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Trump ends all U.S. trade talks with Canada over digital services tax​

  • President Donald Trump said the United States is immediately “terminating ALL discussions on Trade with Canada.”
  • Trump said on Truth Social that he made the decision in response to Ottawa imposing a digital services tax on U.S. tech firms.
  • “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,” Trump added.
President Donald Trump on Friday said the United States is immediately “terminating ALL discussions on Trade with Canada” in response to Ottawa’s decision to impose a digital services tax on American tech firms.

Trump’s surprise announcement on Truth Social accused Canada of “copying the European Union” with the “egregious” tax.

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S&P 500 closes at a record Friday, overcoming even more trade angst: Live updates​

The S&P 500 hit fresh records on Friday as traders managed to look past new comments from President Donald Trump tied to U.S.-Canada tariffs. The broad market index’s rise to new highs marks a sharp turnaround from the lows seen in April during the height of trade policy tensions.

The benchmark added 0.52% and closed at a record of 6,173.07. Earlier in the session, the S&P 500 rose as much as 0.76% to a high of 6,187.68, taking out its previous record of 6,147.43. The Nasdaq Composite, which also hit an all-time high and closed at a record, rose 0.52% to 20,273.46. The Dow Jones Industrial Average added 432.43 points, or 1%, settling at 43,819.27.

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