The Globe and Mail reports in its Tuesday edition that Canadian investors holding U.S.-listed securities could see a sudden spike in the amount of tax they owe under a recent U.S. bill that has been tabled as a retaliatory measure against what it calls "discriminatory taxes" of foreign countries, including Canada's digital services tax. The Globe's Clare O'Hara writes that if passed, the proposed legislation would add five percentage points to the withholding tax rate each year for four years on certain types of U.S. income for anyone living in a country that imposes a tax that the U.S. considers discriminatory or extraterritorial for U.S. citizens or corporations. The additional 20-per-cent withholding tax would remain in place as long as the other country's disputed tax is in effect. Canada's DST was enacted in 2024. The proposal means that Canadians who own U.S. securities that pay dividends or interest, or have realized gains, could see a large tax increase. Canada's DST requires tech giants such as Amazon, Google and Meta to pay a 3-per-cent levy on revenue they generate from Canadian users. Other countries such as Britain, Spain, Italy and France have imposed a DST for years without any retaliation from the U.S.