Trump called for renegotiation of terms of cooperation with Canada
US President Donald Trump called relations with Canada in the field of trade deficit of about $200-250 billion and promised to change the situation. He made the corresponding statement on January 23 during a speech at the World Economic Forum in Davos.
"We have a huge deficit with Canada. We will not have it again," he said.
According to Trump, the U.S. does not need to import any goods from Canada, including oil. At the same time, he added that the neighboring country could avoid imposing 25% tariffs if it joined the United States.
In addition, the head of state urged other countries to produce in the United States. The benefit he offers is expressed in the reduction of taxes to a minimum level, otherwise Trump promised to impose a duty.
On the same day, the Al Jazeera TV station reported that experts in Canada spoke about the consequences for trade due to the threats of the US President on tariffs. According to economists, Trump's promise to steer the country on a protectionist course creates serious problems for whoever succeeds Prime Minister Justin Trudeau.
Earlier, on December 11, 2024, Canadian Finance Minister Chrystia Freeland said the Canadian government was prepared to defend the national interest over Trump's claims that the country could become an "American state."
On Nov. 26, Trump said he would impose additional 10% duties on goods from China and 25% duties on all products from Mexico and Canada. He said China has failed to fulfill a promise to impose the death penalty on fentanyl traffickers, causing "drugs to flood" into the U.S. - mostly through Mexico - on an unprecedented scale.
