President Donald Trump inaccurately downplayed the significance of the US trade relationship with Canada during a meeting with Canadian Prime Minister Mark Carney. Trump claimed that the US does not conduct much business with Canada, stating a figure of 4%, which is incorrect. Official US data reveals that Canada purchased approximately 17% of US goods exports in February and March, making it the largest buyer of US goods. In January, Canada accounted for about 16% of US goods exports, second only to Mexico.

Contrary to Trump’s assertion, Canada is a significant client of the United States, with official data showing that Canada bought around $440 billion worth of US goods and services in 2024, the highest among all countries. Additionally, Canada was identified as the top destination for US exports in 2024 and the third-largest source of US imports. Trump also repeated his claim that the US is subsidizing Canada by approximately $200 billion annually, primarily referring to the trade deficit. However, official statistics indicate that the 2024 trade deficit with Canada was around $36 billion in goods and services, or about $71 billion when considering only goods trade.

Overall, Trump’s assertions regarding the US trade relationship with Canada and the alleged subsidy to Canada lack factual basis and misrepresent the significant trade ties between the two countries.