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Donald Trump Claims US ‘Subsidizes’ Canada, But Trade Data Tells a Different Story
['News Writer', 'Senior Editor']
Inquisitr News
View this post on Instagram A post shared by voteinorout (@voteinorout)Meanwhile, Donald Trump has repeatedly claimed that the United States “subsidizes” Canada, suggesting the economic relationship has largely benefited Canada.
His claims are based on the U.S. trade deficit with Canada.
But economists say a trade deficit is not the same as a subsidy.
Moreover, the U.S. also imported $412.7 billion in goods from Canada, while exporting $349.4 billion, resulting in a trade deficit of about $63.3 billion.
Ercolao and Foran noted that nearly the entire U.S. trade deficit with Canada is driven by energy imports.