The trade deficit with Canada that’s upset Trump so much is due to oil the U.S. buys at a discount

President Trump has expressed frustration over the U.S. trade deficit with Canada, which sits at $27.3 billion, largely driven by Canadian oil exports. In 2025, Canada shipped more than $85 billion of crude oil to the United States, a product that U.S. refineries need because it is heavy sour oil from Alberta’s oil sands. The Canadian oil sells at a discount to U.S. benchmarks. That imbalance, combined with tariff disputes over dairy and other goods, has sparked recent trade tensions between the two neighbors.

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