Amid rising trade tensions, Trump vowed to end the currency disparity that makes Canadian goods cheaper in the U.S., linking it to a $48 billion goods deficit in 2025. The U.S. has hit Canadian imports with 50% tariffs after talks failed, and Canada plans matching retaliation on September 8.
While supporters praised the firm stance, critics and analysts note market-driven exchange rates and U.S. benefits from Canadian energy imports, with the overall trade picture including American surpluses in services and non-energy goods.