U.S. President Donald Trump made a post about the issue on his Truth Social account.
In his post, he stated that Canada has been imposing a 400% customs duty on American farmers for years, and said that trading with Canada is "very difficult."
Trump said they had learned that Canada would impose a digital services tax on U.S. tech companies, arguing that this was a "direct and blatant attack" on the country.
Suggesting that Canada might be copying the European Union, with whom trade negotiations are underway, Trump said, "Based on this terrible tax, we are immediately terminating all trade talks with Canada. Within the next seven days, we will notify Canada of the tariff they will have to pay to do business with the United States."
"We are in the process of making trade agreements with other countries"
Trump noted that in addition to the agreement signed with China, they are also in the process of signing trade deals with other countries, and that within the next one or two weeks they would send "tariff letters" to those nations.
When asked during a press conference at the White House which countries were close to finalizing trade deals, Trump responded, "We made a deal with China, probably with four or five other countries, and we're in the process of making more."
He added that there are over 200 countries and it's not possible to make agreements with all of them, but that in the coming one or two weeks, they would send letters to these countries informing them of the tariff rates they would need to pay to do business with the U.S.
Trump said they were also close to reaching an agreement with India, emphasizing that they wanted all trade barriers in that country to be completely lifted.
"We are doing great things and maintaining good relations with countries, but some will be disappointed because they will have to pay tariffs," he said.
When asked whether the end date of the 90-day tariff deferral period was definite, Trump responded, "We can do whatever we want. We can extend it or shorten it. I’d prefer to shorten it. I’d just like to send a letter to everyone saying, 'Congratulations, you’re paying 25%.'"
When reminded of U.S. Treasury Secretary Scott Bessent's comments that he hoped to complete trade deals with the country’s major trading partners by Labor Day in September, Trump avoided giving a clear answer.
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