Despite 'elbows up,' Canada on track to be net lender to U.S. for the ninth straight year

Despite 'elbows up,' Canada on track to be net lender to U.S. for the ninth straight year

Despite trade tensions and the rise of the “elbows up” movement, Canada remained a net lender to the United States for the ninth straight year in 2025, according to a report Monday from Toronto-Dominion (TD) Bank.

Canada-U.S. Financial Ties Strong, Portfolio Flows Hit New Highs in 2025

The financial flows between the United States and Canada have long been a critical barometer of the economic relationship between the two nations. As we delve into the data through the third quarter of 2025, a clear picture emerges: despite some shifts, the fundamental dynamics of this relationship remain robust, albeit with notable nuances. Canadian investment in the U.S. has continued unabated… Source