Venezuela oil ‘gift’ to refill American reserves; Canadian businesses ‘pour into’ US: Trump

On Canada

Trump also stated that Canadian businesses are rapidly relocating to the US as trade hostilities between the two neighbouring nations intensify.

“Canadian businesses are pouring into the United States. We want to make our own cars, etc. That’s what’s going to happen,” Trump wrote on Truth Social.

He asserted that Canada has been “ripping us off for years” and vowed that the current economic relationship would be fundamentally altered.

It remains unknown exactly which Canadian firms have initiated relocation plans or how much capital is moving across the border.

The US president’s remarks follow the imposition of 50 percent US tariffs on $20 billion worth of Canadian goods on August 22 and his recent directive to impose a 50 percent tariff on all Canadian cars, trucks, and steel starting Jan. 1, 2027.

Trump maintains that these measures are necessary to address a trade deficit exceeding $60 billion. He has repeatedly urged manufacturers to move their operations to American soil to secure “zero tariffs”.

Canadian Prime Minister Mark Carney has rejected the US approach, labelling the new levies a “miscalculation” and an attempt to “hurt and divide” Canada. Carney recently stated that the country is “at war” over trade and announced that Ottawa will implement reciprocal tariffs on $20 billion worth of US imports beginning September 8.