Trump Slams 'Unacceptable' Canadian Exchange Rate, Threatens Economic Fallout
U.S. President Donald Trump has criticized Canada's exchange rate, saying it is 'unacceptable' and that his country is losing money due to the weak Canadian dollar. The current exchange rate between the U.S. and Canada is C$1.38 (CAD) per U.S. dollar (USD).
This is not the first time Trump has taken issue with a country's exchange rate, as he has previously criticized countries such as China, Japan, and South Korea for having large surpluses with the U.S.
In May last year, Trump imposed tariffs on Canadian imports worth $20 billion, leading to a retaliatory response from Canadian Prime Minister Mark Carney. The two leaders have continued to exchange harsh words, with Trump calling Carney's actions 'unacceptable' and warning that the economy will collapse if he continues down this path.
It remains to be seen how this latest development will affect trade relations between the two countries, but observers say it is likely that the U.S. will continue to pressure Canada to appreciate its currency.