WASHINGTON DC – National Foreign Trade Council (NFTC) Vice President for Global Trade Policy Tiffany Smith today issued a statement follow the announcement that the Canadian Radio-Television and Telecommunications Commission (CRTC) will impose a five percent levy on Canadian revenue from online streaming companies:
“Today’s action by Canada once again raises serious questions about their commitment to the fair treatment of companies headquartered in its closest trading partner and ally as well as its adherence to both the spirit and the letter of the U.S.-Mexico-Canada Agreement (USMCA).”
“This action by the CRTC will compel U.S. streaming services and social media platforms to pay an estimated $200 million per year to fund Canadian content on their platforms.
“This new fee will hurt U.S. creative professionals and related workers and ignores the already significant investments U.S. streaming companies have made in Canada as well as the benefits these global platforms provide.”
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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.
