The U.S. actually ran a sizable surplus with Canada if oil and gas are excluded. The U.S. posted a $94 billion deficit with Canada last year in oil and gas. ⬇️
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it must be getting ripped off. In this view, America’s relatively slim trade deficit with Canada is a “massive subsidy” that must be eliminated. Tariffs are just the tool for the job.
Economists think about trade deficits very differently. ⬇️
Far from being a scorecard of economic strength or weakness, the bilateral trade balance between two countries means little from an economic standpoint. ⬇️
Trump has repeatedly claimed the United States is 'subsidizing' Canada 'to the tune of $100B.' Where does that number come from? And is Canada really getting a free ride from the U.S.? The math, the money and the politics to uncover how much if any of what Trump says is actually true.⬇️
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Economists think about trade deficits very differently. ⬇️