Trump's Trade War with Canada: A Bitter Dispute Over Oil and Dairy

The United States and Canada are engaged in a bitter trade dispute, with President Donald Trump accusing his northern neighbor of unfair trade practices. Despite Canada being one of the largest markets for U.S. exports, Trump claims that America has been 'ripped off' by Canada for decades.

Critics point out that the U.S. runs a significant trade deficit with Canada, which is largely due to the country's reliance on Canadian oil imports. According to Leonard Polzin, a specialist in dairy markets at the University of Wisconsin, if Canada were to open its market completely to American dairy exports, 'we would dump so much product there's no way they could remain as a viable industry.'

Canada does protect certain domestic industries, including its dairy sector. The country's supply management system imposes tariffs of over 200% on most dairy products once they've exceeded a quota.

The trade dispute has created uncertainty for businesses in Alaska, which relies heavily on Canadian imports. However, experts say that there is still time for the two countries to reach an agreement and avoid further escalation.