U.S. President Donald Trump has imposed stiff tariffs on goods from Canada, Mexico, and China, citing an 'extraordinary threat' posed by illegal aliens and drugs, including fentanyl. Trump agreed to a 30-day pause on tariffs against Canada and Mexico after both countries pledged to strengthen border security. The White House claims the U.S. faces massive trade deficits and Canada benefits from unfair subsidies, but economic analysts dispute these claims.
OTTAWA — To justify his executive order imposing stiff tariffs on goods from Canada , Mexico and China, U.S. President Donald Trump cited an"extraordinary threat posed by illegal aliens and drugs, including deadly fentanyl."
Trump has claimed the U.S. can no longer suffer the massive trade deficits and subsidies that he says Canada needs to stay afloat. He also has claimed his country is losing $200 billion a year to its northern neighbour. Citing U.S. Census Bureau figures, the TD analysis says America was on track to record an even lower trade deficit with Canada of about US$45 billion in 2024, or $65 billion in Canadian dollars."In any event, a trade deficit is not a subsidy," the analysis says."That would ring true, if for example, the U.S. government transferred US$45 billion annually to Canadian companies out of goodwill, but Americans are receiving value for the dollars spent in the form of goods and services.
The Fintrac alert released in January says that before 2020, North America was primarily a consumer and destination continent for illicit-market opioids, specifically fentanyl, which was largely imported from China.
TRUMP TARIFFS CANADA MEXICO CHINA TRADE BORDER SECURITY FENTANYL
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