Several Democratic lawmakers have said that they will not vote to pass crypto regulations if potential conflicts of interest are not addressed. US President Donald Trump didn’t answer a reporter’s question on whether he would divest from his family’s crypto ventures in order to ensure passage of key cryptocurrency legislation, saying only that if the US didn’t have crypto, China or other countries would. "Many Democrats have said that they are not going to support crypto bills in Congress only because of you and your family's personal crypto ventures," a reporter said to Trump during press briefing at the White House on Friday. Asked whether he would consider divesting from his crypto ventures to ease political pressure on digital asset bills on Congress, Trump responded: Read more
United States President Donald Trump said on Friday that he is calling off trade negotiations with Canada in retaliation for taxes impacting major US tech firms, adding that Ottawa will learn of their tariff rate within a week. “Based on this egregious tax, we are hereby terminating all discussions on trade with Canada, effective immediately,” Trump said in a post on his Truth Social platform. He added that Canada will soon find out the levy it needs to pay to do business in the United States, calling his country’s northern neighbour “very difficult” to trade with. Washington has previously taken issue with Canada’s digital services tax, requesting dispute settlement talks last year over the matter. While Canada’s digital services tax is not new — it was enacted last year — US service providers are “on the hook for a multi-billion dollar payment in Canada” by June 30, noted the Computer and Communications Industry Association. While Canada has been spared from some of Trump’s most sweeping duties, such as a 1...
United States President Donald Trump said on Tuesday that China can continue to purchase Iranian oil after Israel and Iran agreed to a ceasefire, a move that the White House clarified did not indicate a relaxation of US sanctions. “China can now continue to purchase oil from Iran. Hopefully, they will be purchasing plenty from the US, also,” Trump said in a post on Truth Social, just days after he ordered US bombings of three Iranian nuclear sites. Trump was drawing attention to no attempts by Iran so far to close the Strait of Hormuz to oil tankers, as a closure would have been hard for China, the world’s top importer of Iranian oil, a senior White House official told Reuters. “The president continues to call on China and all countries to import our state-of-the-art oil rather than import Iranian oil in violation of US sanctions,” the official said. After the ceasefire announcement, Trump’s comments on China were another bearish signal for oil prices, which fell nearly 6 per cent on Tuesday. Any relaxation o...