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The trade relationship of the United States with Canada is the largest in the world.. In 2023, the goods and services trade between the two countries totaled $923 billion. U.S. exports were $441 billion, while imports were $482 billion, resulting in a United States $41 billion trade deficit with Canada. [1]
A trade war began between the United States, Canada, and Mexico on February 1, 2025, when U.S. president Donald Trump signed orders imposing near-universal tariffs on goods from the two countries to take effect on February 4.
Balance of trade with the United States. The 30 largest trade partners of the United States represent 87.9 percent of U.S. exports, and 87.4 percent of U.S. imports as of 2021. These figures do not include services or foreign direct investment. In 2023, Canada is the largest trading partner of the United States, followed by Mexico. [1]
Trudeau has warned Canadians that tough times are ahead amid the simmering trade war with the US. Canada was the America’s biggest overall trading partner in 2023, with more than $900 billion in ...
When asked what Canada and Mexico must do to lift the 25% tariffs that Trump announced on Saturday, the president told reporters on Sunday they "have to balance out their trade, number one."
Canada is America's largest foreign supplier of crude oil. According to the most recent official trade figures, 61% of oil imported into the US between January and November last year came from Canada.
After the Wars, trade with Asia began to expand, especially China. After the opening of Canada–People's Republic of China relations in 1970, trade with China has expanded rapidly. The 20 largest trade partners of Canada represent 94.0% of Canada's exports, and 91.9% of Canada's imports as of December 2016. [4]
The 9,000-km (5,600-mile) U.S.-Canada border handles over $2.5 billion in trade a day, especially in energy and manufacturing, according to Canadian government data from 2023.