What did Donald Trump claim about the economy on 31 Jan 2025? "As you know, we have about a $200 billion deficit with…"
Donald Trump, President of the United States ·
As you know, we have about a $200 billion deficit with Canada—getting close to $200 billion.
Not close. The U.S. goods trade deficit with Canada was $61.2 billion in 2024 and $63.6 billion in 2023, under a third of the $200 billion he cited.
The Census Bureau records a U.S. goods trade deficit with Canada of $63.6 billion in 2023 and $61.2 billion in 2024, under a third of the figure Trump gave (U.S. Census Bureau, Trade in Goods with Canada).
Claim vs. the record · Economy
Added · Updated
The claim
- Date
- Where
- Exchange with reporters after signing an executive order on deregulation, in the Oval Office.
The record
Primary source (agency data)