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»
This is Canada's out-sized contribution to the trade balance. On a per capita basis, we import much more from the US than they do from us, nearly 8 times as much (1.43 vs 10.99). If Canadians bought per capita like Americans do, the trade deficit would be several hundred billion.
December 28, 2024 at 6:28 AM
It makes sense that the US buys more than Canada does in absolute numbers, they have roughly an order of magnitude more people. The surprise here isn't that there's a deficit, but that it's so small (just 4.4%) while the disparity in population is so large.
December 28, 2024 at 6:28 AM
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
The plain fact is the trade relationship between the US and Canada is the largest in the world. More than Mexico, more than China, more than the entire EU. Anyone saying "Canada needs trade with the US more than the US needs trade with Canada" is missing the forest for the trees
December 28, 2024 at 6:28 AM