Overview

• During the May 6 meeting, Trump repeated two false claims: a $200 billion U.S. trade deficit with Canada and the assertion that Canada accounts for only 4% of U.S. trade.
• Official U.S. data shows the actual trade deficit with Canada in 2024 was $35.7 billion, far below Trump’s exaggerated figure.
• Canada remains the largest buyer of U.S. exports, accounting for approximately 17% of U.S. goods exports in early 2025, contrary to Trump’s claim of minimal trade significance.
• Fact-checkers have systematically debunked numerous falsehoods from Trump regarding Canada’s defense spending, tariffs, and banking regulations earlier this year.
• Prime Minister Carney has consistently refuted Trump’s inaccuracies, emphasizing the strength and importance of the U.S.-Canada economic partnership.