https://edition.cnn.com/2025/03/06/politics/us-trade-tariffs-trump-fact-check/index.html
President Donald Trump has for years wildly exaggerated the size of US trade deficits with various other countries. Now, as Trump cites those trade deficits as a key justification for his tariff policies, newly released federal statistics show just how wrong Trump’s numbers are.
Trump, who on Tuesday imposed 25% tariffs on almost all imports from Canada (10% on energy), has repeatedly said this year that the US has a “$200 billion” trade deficit with Canada – sometimes making the claim explicitly and sometimes using vaguer language about a supposed $200 billion subsidy or loss to Canada.
Trump’s number is not even close to correct. The new federal statistics show the 2024 deficit with Canada in goods and services trade was $35.7 billion, down from $40.6 billion in 2023.
You oversee that much trade with Canada involves non-physical items (like banking)
ReplyDeleteBy the way, Canadians do not allow money near and chicken. Yet we're always buying Marvid (Canadian chicken.)
Also, Canadian dollar fell precipitously during the time you mention, so the physical per item is much greater.
Canada engages in protectionism of its dairy and egg industries which has always annoyed the US but it's understandable. Given the small size of Canada, allowing dairy and eggs in from America would quickly wipe out the uncompetitive homegrown farms.
ReplyDeleteBut that's not really what this is about. This is about how Justin, thinking Trump wasn't listening, insulted him after they first met. Trump is a vengeful guy. This is about destroying Canada because he hates Justin.