Navdeep Bains chooses his words carefully when asked what a Biden administration could mean for Canada’s approach to big tech regulation.
Surely Canada would have a freer hand under President Joe Biden to regulate and tax multinational internet giants, without Donald Trump threatening trade sanctions and tariffs?
“I would say there’s a broader understanding that protectionism is on the rise in the U.S.,” Bains, Canada’s industry minister, told the Star in an interview this week.
“Even with the current administration, the future administration, we need to be mindful of those challenges that exist.”
Source: The Toronto Star
Date: November 23rd, 2020
- ” For years, the Liberal government has talked about the influence the FAANGs — Facebook, Apple, Amazon, Netflix and Google — have on the Canadian economy and citizens. ” What sort of influence are we talking about here?
2. “When France imposed a ….tax [on tech giant’s overseas advertising revenues] , Trump threatened to levy $2.4 billion (U.S.) in tariffs on French goods — including champagne and cheese. French President Emmanuel Macron eventually agreed to delay the tax plans.” ” A promised tax on tech giants’ advertising revenues and profits from Canadian user data has yet to materialize, but is still on the plate. ” Why shouldn’t the Canadian government be able to tax an American companies advertising revenues that are generated in Canada?