Get access to our best features
Get access to our best features
Published

With tariffs and trade in the spotlight, what Trump means when he says America is ‘losing’ billions to Canada, others

  • President-Elect Donald Trump claimed that the United States was losing $200 billion a year to Canada, citing a trade deficit of $67.9 billion in 2023 with the country.
  • The overall US trade deficit was $945 billion in 2022, which narrowed to $785 billion in 2023, but was expected to widen again in 2024 due to economic factors.
  • Economists noted that imports can lower costs for consumers and spur economic growth, while foreign investment can lead to jobs and technology advancement.
  • Some economists warn that viewing trade deficits as losses is misleading, arguing it does not reflect the benefits of trade for the US economy.
Insights by Ground AI
Does this summary seem wrong?
Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/yearSubscribe

Bias Distribution

  • 86% of the sources are Center
86% Center
Factuality

To view factuality data please Upgrade to Premium

Ownership

To view ownership data please Upgrade to Vantage

Sources are mostly out of (0)