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National Post
National Post
15 Jan 2025


NextImg:Despite Trump's claims, U.S. doesn't really have a trade deficit with Canada. Here's why

Donald Trump has been complaining about the United States’ “trade deficit” with Canada.

The president-elect has claimed the U.S. is subsidizing Canada to the tune of $200 billion per year, through a combination of the trade deficit, military protection and other measures. He has threatened to implement a 25-per-cent tariff on Canadian goods when he is inaugurated on Jan. 20, which has thrown Canada’s governments into chaos, as premiers and federal politicians attempt to find a way to placate the incoming U.S. president and, if tariffs can’t be avoided, somehow fight back.