Forex
Trump's 'We Don't Need Canada' Claim Collides with Economic Reality
US President Donald Trump's claim that his country doesn't need Canada is at odds with the economic reality. Every day, around 4 million barrels of Canadian crude oil flow south to fuel American cars, trucks, and airplanes.
The two countries have a deeply intertwined economy, with Canada being the second-largest US trading partner after Mexico. In 2026, they exchanged about $872 billion in goods and services.
Canadian crude imports account for nearly 20% of total US petroleum consumption, according to the US Energy Information Administration. The relationship is not just limited to energy; Canada also supplies aluminum, potash, and parts for the auto industry built on both sides of the border.