Senate begins debate on Trump's 'big, beautiful bill'

Trump wrote on his social media platform Friday afternoon that he is terminating all discussions on trade with Canada immediately.

Trump said he came to the decision after learning Canada announced they are putting a digital service tax on U.S. technology companies, which he calls a "direct and blatant attack" on the U.S.

"They are obviously copying the European Union, which has done the same thing, and is currently under discussion with us," he claimed.

Trump also wrote that the White House will let Canada know the tariff they'll be paying in the next seven days.

The White House didn't immediately comment.

-ABC News' Hannah Demissie

Asked if he is open to temporarily pulling away from his personal crypto ventures as a bill that aims to regulate cryptocurrencies faces some criticism due to conflict-of-interest concerns raised by the president's dealings in stablecoins, Trump said he is a "fan of crypto" and called it a "very powerful industry" that the U.S. has "dominated."

"I'm president. And what I did do there is build an industry that's very important," he said. "If we didn't have it, China would."

In recent years, China's government has imposed stringent restrictions on trading crypto.

House Speaker Mike Johnson suggested the self-imposed July Fourth deadline to pass the One Big Beautiful Bill Act could slide.

"It's possible," he said. "I don't even accept that as an option right now."

Johnson said the House can't make any final decisions until the bill passes in the Senate and hopes the final product is like what the House passed.

"I'm going to give all of my members plenty of time to digest that we're not -- the House will not be jammed by anything," he said.

The speaker said he'll bring the House back next week to "get this done as soon as it is possible."

"So, I still want to get this done by July Fourth," he said.

-ABC News' Lauren Peller

When Trump was asked if his July Fourth deadline for his megabill were important, he appeared not to be committed to the date.

"It's important, it's not the end all," he said. "It can go longer, but we'd like to get it done by that time if possible."