Trump wildly exaggerates trade deficits with Canada, Mexico, China and the EU

 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.