Trump calls Canada currency imbalance unacceptable before 50% tariffs

  • President Trump criticized the U.S.-Canada currency imbalance before Canadian tariffs begin.
  • $769 million was Canada’s trade surplus in July, while the U.S. deficit exceeded $48 billion last year.
  • Canadian tariffs begin Tuesday, roughly two weeks after Trump’s 50% levies took effect.

President Trump said the U.S.-Canada dollar imbalance is unacceptable, days before Canadian retaliatory tariffs on selected American goods take effect. One Canadian dollar is worth roughly 72 U.S. cents, while Canada recorded a $769 million trade surplus in July. U.S. Census Bureau data show the U.S. trade deficit with Canada exceeded $48 billion last year. Canada’s dollar-for-dollar import taxes will begin Tuesday, about two weeks after Trump’s 50% levies on $27.6 billion of Canadian products became official. The measures cover about 5% of goods imported from Canada, the United States’ second-largest trading partner behind Mexico, and target steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics. Trump has also criticized Canadian Prime Minister Mark Carney and has repeatedly argued during his second term that the United States should annex Canada. Later Sunday, he broadened his criticism to foreign net exporters, alleging they use eight economic tactics, including weakening their currencies, selling below market value, copying U.S. goods and reclaiming export proceeds.

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