President Donald Trump has cast doubts on the renewal of the U.S.-Mexico-Canada Agreement (USMCA), citing trade deficits with both countries.
We Don’t Need Canadian Goods
Trump, during a press briefing on Wednesday, criticized the USMCA, sharing that the U.S. had trade deficits with Canada and Mexico instead of surpluses.
“We don’t need anything that Canada has,” Trump said during the briefing, adding that the U.S. needed to be treated better by Mexico and Canada.
GasBuddy Analyst Refutes Trump’s Comments
GasBuddy Analyst Patrick De Haan refuted Trump’s comments via a post on X. “Canadian oil makes up ***62%*** of the amount of oil the U.S. imports,” De Haan said, adding that over 25% of the total oil barrels going into U.S. refineries originate from Canada.
“How’s that for “energy independence”? let that sink in,” De Haan said in the post, illustrating Canada’s role as a key supplier for U.S.’s oil needs.
The USMCA Under Spotlight
Trump’s comments come as U.S. Trade Representative Jamieson Greer had previously said that tariffs imposed on Mexico‘s auto and steel sectors would remain in effect despite renegotiations in the U.S.-Mexico-Canada agreement, slated to end July 1st this year.
During December, Greer had hinted at the possibility that the Trump administration was mulling withdrawing from the USMCA altogether in 2026, but no official announcements have been made regarding such a move.
The Gordie Howe Bridge To Open
Meanwhile, the Gordie Howe International Bridge, a six-lane span bridge that connects Ontario with Michigan, is set to open its doors this Friday despite opposition from Trump.
Trump had earlier threatened to block the opening of the bridge, saying that Canada had treated the U.S. “very unfairly for decades.”
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