Monday Jul 24, 2023
[Weekly News Roundup] Digital Services Taxes, Human Rights Sanctions, and Inflation Outlook
This week's trade news roundup talking about three news events for the week. First up is Canada refusing to extend a freeze on digital services taxes, the second about a proposed US bill to sanction companies enabling human rights violations in China, and the third about inflation outlook and consumer sentiment.
Main Points
- Canada is refusing to join an agreement to extend a freeze on digital services taxes, which would allow Canada to tax digital services like online shopping, streaming, banking, etc. This could negatively impact e-commerce but generate revenue for Canada.
- The proposed US bill would sanction foreign companies that enable human rights violations against Uighurs in China. Andy and Lalo believe the bill will likely pass due to political pressure.
- Andy believes the article claiming inflation outlook is brightening is misleading, as inflation and prices are still significantly higher than normal.
- Trade volumes will likely continue to rise overall but have shifted away from China to other countries due to forced labor concerns
Enjoy the show.
Host: Annik Sobing: https://www.linkedin.com/in/annik-sobing-mba-b226251a2/
Host: Andy Shiles: https://www.linkedin.com/in/andyshiles/
Host/Producer: Lalo Solorzano: https://www.linkedin.com/in/lalosolorzano/
Co-Producer: Mara Marquez: https://www.linkedin.com/in/mara-marquez-a00a111a8/
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