President Trump boasted at a fund-raising event on Wednesday that he fabricated a trade deficit between Canada and the United States during a meeting with Prime Minister Justin Trudeau.
On Thursday morning, Mr. Trump doubled down, writing on Twitter: “We do have a Trade Deficit with Canada, as we do with almost all countries (some of them massive). P.M. Justin Trudeau of Canada, a very good guy, doesn’t like saying that Canada has a Surplus vs. the U.S. (negotiating), but they do … they almost all do … and that’s how I know!”
Determining trade balances is not straightforward. According to the United States trade office, the United States had a $12.1 deficit in the trade in goods with Canada in 2016. But that was more than offset by a $24.6 billion surplus in the United States’ favor in trade in services. Read more at NY TIMES.