08:20:57 EDT Tue 01 Jul 2025
Enter Symbol
or Name
USA
CA



Amazon.com CDRs (CAD Hedged)
Symbol AMZN
Shares Issued 25,050,000
Close 2024-09-03 C$ 21.05
Market Cap C$ 527,302,500
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Globe says Meta, rivals see U.S. seek talks under USMCA

2024-09-03 07:23 ET - In the News

See In the News (C-META) Meta CDR (CAD Hedged)

The Globe and Mail reports in its Saturday edition that the U.S. is taking trade action against Canada over its new digital services tax. The Globe's Bill Curry writes that U.S. Trade Representative Katherine Tai has requested dispute-settlement consultations with Canada under the United States-Mexico-Canada Agreement. Ms. Tai stated, "The United States opposes digital service taxes that discriminate against U.S. companies," and her office "is addressing Canada's discriminatory practices." Canada signalled plans for a digital services tax in 2020 but delayed implementation to observe global tax reform negotiations. The aim was to reach a deal on taxing global tech giants, many of which are U.S.-based, such as Amazon, Meta's Facebook and Alphabet's Google. Canada has not reached a deal, so Finance Minister Chrystia Freeland announced that Canada will implement a retroactive digital services tax at 3 per cent on revenues from specific digital services. This tax applies to multinational tech companies earning at least $20-million a year in digital services revenue in Canada with global revenue exceeding $1.1-billion. The tax is expected to generate $2.3-billion this fiscal year and $900-million annually afterward.

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