Clearly Classical
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clearlyclassical.bsky.social
Clearly Classical
@clearlyclassical.bsky.social
Politics account. Independent. Advocate for traditional progressive conservative values: Freedom, equality, empathy. En français: «Liberté, egalité, fraternité»
That $41b still isn't a rip-off by Canada. Any economist could tell you that the money from a trade deficits gets returned to the US as surplus foreign investment, every last penny.
aei.org/carpe-diem/w...
December 28, 2024 at 6:28 AM
For 2023, the goods and services exchanged totaled $923 billion. US exports were $441 billion, while imports were $482 billion, leaving a $41 billion trade deficit with Canada. This imbalance relatively small, only about 4.4% of the total value of trade.
crsreports.congress.gov/product/pdf/...
December 28, 2024 at 6:28 AM
I'm getting really sick of the talking point that Canada is somehow "ripping off" the US because there's a trade deficit. This is objectively false, and also ignores how Canada actually makes an over-sized contribution to the trade balance. 🧵
December 28, 2024 at 6:28 AM