The United States of America (USA) has a trade shortfall with the North American nation; Canada President Donald Trump was quoted by the Anadolu.
However, a claim Canadians fear may interfere with negotiations on a new North American Free Trade Agreement (NAFTA).
“We do have a Trade Deficit with Canada, as we do with almost all countries (some of them massive). Trump said.
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!” Trump posted on his Twitter account.
Canadian officials say President Trump is wrong and that the U.S. has a trade surplus with its northern neighbor.
Even the Office of the U.S. Trade Representative contradicts Trump, confirming that “the U.S. goods and services trade surplus with Canada was $12.5 billion in 2016,” Canadian foreign affairs spokesperson Adam Austen said yesterday in response to Trump’s tweet.
Canadian Transport Minister Marc Garneau, who chairs the cabinet committee on Canada-U.S. relations, backed up Austen’s statement while talking to Newsmen in Montreal.
“At this point, it’s very important to point out that there is over $2 billion a day of trade between our two countries and overall annually the United States has a small surplus with Canada,” Garneau said.
“So we can talk about balanced trade between the two countries, huge amounts of trade, and this is something we want to carry on to improve as we negotiate the NAFTA accord.”
Canada, the United States, and Mexico are renegotiating the decades-old free trade agreement, but progress has been plodding, with the eighth round of talks set for Washington in coming few days.
Trump has repeatedly said the U.S. got the short end of the stick with NAFTA and he has demanded a better deal for the U.S. with Canada and Mexico.
White House Press Secretary Sarah Huckabee Sanders backed Trump’s claim during a press briefing Thursday, saying that when “energy and timber” are included in the trade figures, there is a trade deficit with Canada.