Trump Slams Canada's Currency Imbalance Ahead of Tariff Deadline

President Donald Trump has taken aim at Canada's currency imbalance with the US dollar, labeling it 'unacceptable'.

In a post on Truth Social, Trump stated that the exchange rate between the two currencies has been a problem for years, but no longer. Currently, one Canadian dollar buys about 72 US cents.

The trade dispute between the two countries is escalating, with Canada's retaliatory tariffs set to take effect on Tuesday. These tariffs will target $20 billion worth of US goods, including steel, aluminum, furniture, clothing, appliances, and electronics.

Canada has posted a trade surplus of $769 million in July, while the US ran a goods trade deficit with Canada of over $48 billion last year.