Suspended

The White House suspended trade talks with Canada in response to its digital services taxes, which go into effect today.

The new 3% tax applies to tech companies (domestic and foreign) that engage with online users in Canada. It also applies retroactively, leaving major U.S. tech companies like Amazon, Google, and Meta with a $2 billion bill due to the Great White North by the end of the month.

President Trump called the northern neighbors “foolish” for following through with the tax, promising retaliatory tariffs.

Meanwhile, a long-awaited trade agreement with China was announced with little fanfare and few details. Late Thursday, Trump announced a deal was signed “the other day,” and China’s Commerce Ministry confirmed the framework includes rare earth exports from China to the U.S. and the easing of U.S. tech restrictions on China.

ETERNAL PERSPECTIVE
Our goal is to keep the big things big and the small things small. It’s not that U.S.-Canada trade negotiations aren’t important, they’re just not God-of-the-Universe important. Stay focused on eternity; it changes everything.

“The life of every living thing is in his hand, as well as the breath of all humanity.” 
Job 12:10 (CSB) (read full passage)