- TD Economics Newletter January 25th, 2025 https://economics.td.com/ca-canada-us-trade-balance
- With respect to Trump’s assertion that the U.S. subsidizes Canada to the tune of US$200 billion per year, it’s unclear where this number is derived. In any event, rather than a subsidy, the U.S. trade deficit is a by-product of U.S. economic outperformance relative to other countries.
Mugsy Margarit
March 21st, 2025 - According to data published by US Customs & Border Protection, the number of travelers driving from Canada to the United States in February decreased by nearly 500,000 compared to January.
Total number of crossings (Canada to USA):
December 2024 - 3.5 million
January 2025 - 2.7 million
February 2025 - 2.2 million
March 21st, 2025 PT II - When asked again about possible annexation of Canada, Trump states "We don't need anything from Canada and yet it costs $200B in subsidy to keep Canada afloat. So when I say they should be a state, I really mean that. Some people don't have the cards.'
The $200B figure has been thoroughly debunked, but this is notable because it's the first time he has used the cards metaphor in regard to Canada - the same metaphor he uses with Ukraine. It's a subtle escalation, but expect to hear it more now.
March 21st, 2025 PT III - Denmark, UK, Germany, and Finland issue advisories about travel to the US. Canada informally advises its' citizens to 'reconsider' U.S. travel.
Canadian lawmaker Charlie Angus warns against travelling to the US, citing reports of Canadian citizens being detained by ICE agents.
"We have seen too many stories of citizens being pulled out of airport lines, and being fingerprinted and deported, as if they were criminals. Citizens being kidnapped to illegal detention by ICE…this is not the actions of a Democratic nation."
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