News Summary

Just days before it was set to take effect, Canada has canceled its Digital Services Tax (DST), which was designed to tax big tech firms profiting from Canadian users without contributing to the Canadian economy. The tax was expected to generate $2 billion by June 30. However, the United States halted trade negotiations, claiming the DST was an attack on its businesses. The move raises questions about the profitability of Canada’s decision to appease US concerns.