“Elbows up” and knees bent. As expected given the nature of their dependency, the Canadian government has rescinded the digital services tax against U.S. tech companies.

The June 30th collection is halted and the Canadian government led by Mark Carney will be bringing legislation to rescind the tax entirely.

CANADA – […] Minister of Finance and National Revenue, the Honourable François-Philippe Champagne, announced today that Canada would rescind the Digital Services Tax (DST) in anticipation of a mutually beneficial comprehensive trade arrangement with the United States. Consistent with this action, Prime Minister Carney and President Trump have agreed that parties will resume negotiations with a view towards agreeing on a deal by July 21, 2025.

The DST was announced in 2020 to address the fact that many large technology companies operating in Canada may not otherwise pay tax on revenues generated from Canadians. Canada’s preference has always been a multilateral agreement related to digital services taxation. While Canada was working with international partners, including the United States, on a multilateral agreement that would replace national digital services taxes, the DST was enacted to address the aforementioned taxation gap.

The June 30, 2025 collection will be halted, and Minister Champagne will soon bring forward legislation to rescind the Digital Services Tax Act. (LINK)

In the bigger picture Canada has a serious problem.

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CTH has continually said that almost no one in Canada has any grasp of what is about to happen within their economy, specifically because only a handful of people realize what President Trump intends to do.

This interview with Kevin O’Leary is a case study in what I have been warning about.  If you have any financial affiliation with O’Leary Ventures or ancillary investments that touch on a dependency therein, be forewarned.

O’Leary is only a few months away from exploding against President Trump in a manner that will make the Elon Musk statements about Epstein and Trump seem small by comparison.  As yet another Canadian financial voice that just doesn’t get it, O’Leary has no idea the USMCA is about to end. And when it does, oh boy… he will go bananas.

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[BACKGOUND STORY]

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I was unaware until this interview the July 1st digital services tax that Canada is going to apply to U.S. tech companies is retroactive in application. Over a billion dollars will be due on Monday as a result of Canada’s targeting.  Duplicitous Snow Mexicans.

Treasury Secretary Scott Bessent outlines the details of what Canada did and why President Trump is responding so forcefully. Bessent also explains that the EU doesn’t have a digital services tax, but some European countries do. President Trump is factoring in those targeted tariffs against our tech industry as he seeks to execute new trade agreements with the EU. WATCH:

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As we have noted from the beginning, the overwhelming majority of the Canadian people genuinely have no idea what the final goal is for President Trump; this includes Prime Minister Mark Carney. A few Canadians can see the big picture, but only a very few.

Today, President Trump announces that all trade negotiations with Canada are halted, effective immediately, because Mark Carney and his team are trying to target the USA with a Digital Services Tax. When you know the end-game for Trump, you can clearly see how this positioning from Canada once again plays directly into his hands.

PRESIDENT TRUMP – “We have just been informed that Canada, a very difficult Country to TRADE with, including the fact that they have charged our Farmers as much as 400% Tariffs, for years, on Dairy Products, has just announced that they are putting a Digital Services Tax on our American Technology Companies, which is a direct and blatant attack on our Country. They are obviously copying the European Union, which has done the same thing, and is currently under discussion with us, also.

Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately. We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period. Thank you for your attention to this matter!

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President Trump and Secretary of State/Nat Sec Advisor Marco Rubio left the G7 in Canada late last night following dinner with the G7 leaders.  When asked by reporters about his early departure President Trump said, “for obvious reasons.”

President Trump is quickly assembling his national security, defense and intelligence apparatus to work throughout the day Tuesday from the situation room of the White House where real-time video feeds and interfaces with regional players are immediate.   President Trump announces his departure during the G7 group photo session.

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President Trump left behind Treasury Secretary Scott Bessent to represent our U.S. interests as the G7 completes without him.

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Canadian Prime Minister Mark Carney welcomes President Donald Trump at the beginning of the working sessions for the G7 assembly in Canada.

During the press availability President Trump notes the G7 used to be the G8, however following the Crimea referendum and President Putin’s response to accept the outcome of the vote, the NATO alliance led by President Barack Obama took Russia out of the group.  President Trump says he “agreed” with Putin’s reaction to the decision.

The G7 speak about Russia consistently at almost every meeting, without a willingness to listen to the voice or opinion of Russia in context to their protestations.  Quite simply it is easier for Italy, Canada, the U.K, France, Germany, Japan and the USA to exist inside an echo-chamber without having their multilateral arguments challenged.  President Trump does not fear the debate of ideas with Russia present in the room, another point of distinction between Trump and the assembly.

Wrong is wrong even if everybody does it; and right is right even if nobody does it. It takes strong confidence to assert a position counter to popular opinion, this is what makes President Donald Trump a transformative political influence.

In the background, President Vladimir Putin is undoubtedly paying attention.

Also, read carefully what President of the European Council António Costa said today:

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The current Canadian Prime Minister is genuinely a walking meme of a Canadian Prime Minister parody.

During his remarks to parliament today, Prime Minister Carney waxed gleefully about the U.S. federal trade court ruling against President Trump’s tariffs, just moments before the federal appeals court stayed the opinion of the lower court.  It’s a little funny.

PM Carney doesn’t seem to recognize the reality of the economic landscape before him.  He complains about blocked access to the U.S. consumer base with a level of entitlement that’s genuinely humorous.  Meanwhile, the Canadian economy around him is collapsing.  WATCH:

♦ BACKGROUND – Following the 2024 presidential election, Prime Minister Justin Trudeau traveled to Mar-a-Lago and said if President Trump was to make the Canadian government face reciprocal tariffs, open the USMCA trade agreements to force reciprocity, and/or balance economic relations on non-tariff issues, then Canada would collapse upon itself economically and cease to exist.  In essence, in addition to the NATO defense shortfall, Canada cannot survive as a free and independent north American nation, without receiving all the one-way benefits from the U.S. economy.

To wit, President Trump then said, if Canada cannot survive in a balanced rules environment, including putting together their own military and defenses and meeting their NATO obligations, then Canada should become the 51st U.S state.  It was following this meeting that President Trump started emphasizing this point and shocking everyone in the process.  However, in the emotional reaction to Trump’s statements, no-one looked at the core issues outlined by Trudeau that framed President Trump’s opinion.

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I’m sorry, but when I finally got around to review the appearance of King Charles in the Canadian Parliament, I could not get past the optics on display.

My background thoughts are HERE, but boy howdy does this picture encapsulate the dynamic.

[VIDEO IS HERE]

And yes, King Charles waxed eloquently in both French and English about the terrible issue that Canadian sovereignty is facing.

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King Charles is arriving in Canada today in advance of an opening speech he will deliver to the Canadian Parliament.   Canadian Prime Minister Mark Carney invited King Charles to attend, and while the media portray the visit as mostly symbolic there is no doubt the substantive issue for Canada is the economic dependency on the USA and how the U.K can bolster the position of Canada against that threat.

Everything is always about the money of the thing, this dynamic between the U.K and Canada is no different.  What we would call the ‘western’ global financial system is contingent upon all U.S. allies retaining the United States as their consumer base and stable currency center.  President Trump has exposed the vulnerability of Canada as he confronts the parasitic relationship {GO DEEP}.

In advance of the U.K positioning itself as the skirt behind which Canada can hide from the horrible Trump, British Prime Minister Keir Starmer extended an invitation for President Trump to attend a state visit in his honor later this year.  The effusive praise from Starmer during the White House meeting was keenly strategic, so too was their urgency in creating the first new-era free trade agreement with the USA.

Perhaps President Trump’s embrace of Qatar, the UAE and Saudi Arabia should be viewed through this financial prism where the EU, U.K and Canada will ultimately go to war (together) against the efforts of President Trump.  Within the partnership of the UK, EU and Canada, the Snow Mexicans are the weakest link, the most vulnerable to collapse from Trump’s economic policy.

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I have watched it so many times and each time I have to pause it to stop laughing.  When you consider everything in the lead up to this event, this really is the best press availability ever.

At 29:37 of the video below, President Trump is asked:

MEDIA: “Is there anything the Prime Minister can say to you today to change your mind on tariffing Canada?” … “Is there anything he can say to you, in the course of your meeting today, that could get you to lift tariffs on Canada?”

TRUMP: “No.”

MEDIA: “Why not?”

TRUMP: “Just the way it is.”

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The last five minutes are so funny, so brutally honest, so genuinely instructive of the baseline from which all of the future trade aspects will take place, that it just makes you laugh at the simplicity of the problem that Canada faces. “We don’t really want cars from Canada,” in reality we don’t want anything from Canada…  lolol.

“Look, this is all friendly.” Carney is just sitting there, like a doofus.

Best President Ever!

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