President Donald Trump said on Friday that the U.S. is terminating all trade discussions with Canada.

Trump cited Canada’s digital services tax on American tech companies as the reason for ending trade talks.

"They are obviously copying the European Union, which has done the same thing, and is currently under discussion with us, also. Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately."

Trump said the administration will inform Canada within the "next seven day period" of what tariff it will pay to do business with the U.S.

This is a developing story. Please check back for updates.