Trump's Trade War Threats Exposed by Canada's Crucial Role in US Economy
US President Donald Trump claims his country doesn't need Canada, but trade data and experts say otherwise.
Roughly four million barrels of Canadian crude oil flow into the US every day to fuel American cars, trucks, airplanes, and supply industry needs. This is just one part of a $872 billion goods and services exchange between the two countries in 2023, with Canada being the second-largest trading partner after Mexico.
Trump has imposed a 50% tariff on Canadian aluminum while acknowledging that the US badly needs it for industries like auto manufacturing. Energy expert Daniel Béland from McGill University agrees that Trump's claim is 'absolutely false,' citing US reliance on Canadian oil and natural gas, as well as integrated industries like autos.
The trade deficit between the two countries stands at around $48.3 billion, with energy accounting for most of it. However, without energy imports, the US would run a trade surplus.