Trump Targets Canada's Currency Imbalance

President Trump has taken aim at Canada's currency imbalance with the US, calling it 'unacceptable' and stating that it will no longer be tolerated. According to data from Statistics Canada, one Canadian dollar is currently equivalent to roughly 72 cents, giving Canada a trade surplus of $769 million in July.

This imbalance has been a long-standing issue between the two countries, with Canadian businesses consistently exporting more to their American counterparts than vice versa.

Trump's comments come as Canada prepares to impose tariffs on a slew of American goods, starting from Monday. The president's statement is part of a larger effort by his administration to influence the Federal Reserve's decision on interest rates, which is set for consideration in ten days' time.