
28/06/2025
SEC. BESSENT SAYS THAT CANADA APPLIED A 2 BILLION $ RETROACTIVE DIGITAL SERVICES TAX
ON THE AMERICANS! ....During negotiations!
...causing Trump to DROP THE HAMMER!
U.S. NOW OPENING A 301 INVESTIGATION ON CANADA!
Bessent: "Well, we knew it was coming. We hoped they wouldnโt do it. Canada has this ๐๐ข๐ ๐ข๐ญ๐๐ฅ ๐ฌ๐๐ซ๐ฏ๐ข๐๐๐ฌ ๐ญ๐๐ฑ and several other countries do too.
We just disagree, and we think that they ๐ฅ๐ช๐ด๐ค๐ณ๐ช๐ฎ๐ช๐ฏ๐ข๐ต๐ฆ against ๐.๐. ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ. But what Canada did here โ as of Monday โ they're going to implement a ๐ซ๐๐ญ๐ซ๐จ๐๐๐ญ๐ข๐ฏ๐ ๐ญ๐๐ฑ, and we think that... we don't like the taxes, and obviously we think it's ๐ฉ๐๐ญ๐๐ง๐ญ๐ฅ๐ฒ ๐ฎ๐ง๐๐๐ข๐ซ to do it retroactive.
This was something from the Trudeau years, so we were hoping โ as a sign of goodwill โ that the new ๐๐๐ซ๐ง๐๐ฒ ๐๐๐ฆ๐ข๐ง๐ข๐ฌ๐ญ๐ซ๐๐ญ๐ข๐จ๐ง would at least put a brake on that during the trade talks. They seem not to have.
๐๐ซ๐๐ฌ๐ข๐๐๐ง๐ญ ๐๐ซ๐ฎ๐ฆ๐ฉ has responded, and my inclination is that ๐๐ฆ๐๐๐ฌ๐ฌ๐๐๐จ๐ซ ๐๐ซ๐๐๐ซ over at USTR will be starting a ๐๐๐ ๐ข๐ง๐ฏ๐๐ฌ๐ญ๐ข๐ ๐๐ญ๐ข๐จ๐ง into the digital services taxes to determine the amount of harm to ๐.๐. ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ and the ๐.๐. ๐๐๐จ๐ง๐จ๐ฆ๐ฒ in general."
Reporter: "Why is a section 301 investigation the way to go, and what could that outcome potentially yield? Would that be broad-based โ looking at Canada and the possibility of tariffs โ or very targeted on certain industries?"
Bessent: "Well, no. The president can impose tariffs based on ๐๐๐๐, which is an ๐๐ฎ๐ฆ๐ณ๐จ๐ฆ๐ฏ๐ค๐บ ๐๐ค๐ฐ๐ฏ๐ฐ๐ฎ๐ช๐ค ๐๐ฐ๐ธ๐ฆ๐ณ๐ด ๐๐ค๐ต.
The 301 is more ๐๐ฎ๐ซ๐๐๐ฅ๐ and could ๐ฅ๐๐ฌ๐ญ ๐ฅ๐จ๐ง๐ ๐๐ซ."
Reporter: "So in terms of 301 being more durable and lasting longer โ would this be more broad-based, looking across trade of goods and services with Canada more broadly, or would it be more targeted to certain industries?"
Bessent: "No, it would be ๐ญ๐๐ซ๐ ๐๐ญ๐๐ across tariffs on ๐๐๐ง๐๐๐ข๐๐ง ๐ฉ๐ซ๐จ๐๐ฎ๐๐ญ๐ฌ. And you know, again, weโll have to see. We know the amount.
I think itโs about ๐ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐๐จ๐ฅ๐ฅ๐๐ซ๐ฌ of retroactive digital taxes โ which seem ๐ฉ๐๐ญ๐๐ง๐ญ๐ฅ๐ฒ ๐ฎ๐ง๐๐๐ข๐ซ. We had been talking to the administration in Ottawa about this, and they decided to go ahead with it."
Video link: https://x.com/Tablesalt13/status/1938731961222136268