Trump's Trade War Threatens to Fuel American Economy
US President Donald Trump claims his country doesn't need Canada, but numbers tell a different story. Each day, around 4 million barrels of Canadian crude oil flow south to fuel American cars and industry, making up nearly 20% of total U.S. petroleum consumption. The two countries exchanged $872 billion in goods and services last year, with energy at the heart of their relationship.
Trump has imposed a 50% tariff on Canadian aluminum, while acknowledging this week that the US badly needs it. 'This country desperately needs aluminum,' he said. 'We don't have it. We get it all from Canada for the most part, and we need it badly.'
Critics argue Trump's trade war could harm both economies if more of their energy, materials, and supply chains are affected.