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2023: U.S. Faces $64.3B Trade Deficit with Canada

3/10/2025

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Summary

Story summary

The Fulcrum champions impartial journalism, showcasing a variety of perspectives backed by in-depth research. Historically, Canada levied steep tariffs on U.S. dairy and poultry, while the U.S. retaliated with tariffs on steel and aluminum. In a surprising turn, 2023 saw the U.S. importing more from Canada than exporting, leading to a staggering trade deficit of $64.3 billion.

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Story summary

The Fulcrum champions impartial journalism, showcasing a variety of perspectives backed by in-depth research. Historically, Canada levied steep tariffs on U.S. dairy and poultry, while the U.S. retaliated with tariffs on steel and aluminum. In a surprising turn, 2023 saw the U.S. importing more from Canada than exporting, leading to a staggering trade deficit of $64.3 billion.