Trump Slams Canada Dollar Gap as 'Unacceptable'
US President Donald Trump has expressed his discontent with the exchange-rate gap between the Canadian dollar and the US dollar, calling it 'unacceptable'. In a post on Truth Social, Trump stated that the imbalance has been ongoing for years but will no longer be tolerated.
The Canadian dollar has been weaker than its US counterpart for most of the past 15 years, with an average exchange rate of around 1.24 CAD per $1 USD. Currently, it is trading at approximately 1.38 CAD per $1 USD, or about 72 cents per Canadian dollar.
A weaker Canadian dollar makes Canadian-made products more competitive in the US market, while increasing the burden on US consumers who purchase these goods. This has been a point of contention between the two countries, with Trump repeatedly voicing his concerns over the trade balance gap.