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US Canada Trade Deficit is not $100 billion Donnie!

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    US Canada Trade Deficit is not $100 billion Donnie!

    So why does the liar in chief keep repeating the lie about his trade deficit with Canada which is primarily because of oil?

    "In 2023 the US imported $482 billion in goods and services from Canada, while exporting $441 billion, resulting in a $41 billion trade deficit.

    In 2023, the value of Canadian crude oil exports to the United States was $124 billion, which was 16% of Canada's total export value. The United States is the primary destination for Canadian crude oil, receiving about 97% of Canada's total exports."

    I don't have the breakdown of other goods and services trade but why does Trump say the US is subsidizing Canada?

    That's BS and he knows it.

    How is he planning to reduce that trade deficit? Is he going to punish oil imports by driving up US supply? I doubt it especially when he talks about needing Keystone XL.

    We likely have a big trade deficit with the US in autos and auto parts. $77 billion exports vs 117 billion in imports from all countries but the US would be the largest share.

    “Long gone are the days when Canada maintained healthy trade surpluses in automotive,” said Andrew King, Managing Partner at DAC, in a statement. “EVs are bringing changes throughout the entire automotive ecosystem, and trade is no exception, as production systems restructure, new players emerge, and trade tensions rise to the fore.”

    "For 2023, Canadian exports of auto parts came in at $23.5 billion, while exports of light vehicles totalled $53.5 billion. Imports totalled $47.5 and $70.4 billion, respectively. In both cases, DAC said the United States remains its largest trading partner, accounting for 95.3% of Canada’s total auto exports and 57.7% of its overall auto imports.

    In comparison, Mexico accounts for 2.5% of auto exports and 14.5% of auto imports."

    [url]https://canadianautodealer.ca/2024/06/canadas-auto-trade-surpasses-2b-u-s-remains-largest-trade-partner/[/url]








    #2
    It could also be argued that US refineries run on heavy sour crude from Alberta tar sands, an inexpensive oil compared to the light sweet shale formation oil the US ships offshore for a much higher price.

    Without Alberta oil, the US would have to source elsewhere to keep its refineries going, or be forced to retool to handle their shale production. Both would be expensive options. That argument should narrow the trade deficit with the US. It would never cross Trump's mind because that is only the means to his end.

    This is more about Trump having to be in the news everyday than trade deficits, immigration, or fentanyl. If it wasn't those excuses, it would be three others to keep the limelight going.

    Comment


      #3
      Is the crack not more favorable on the Canadian crude?
      More diesel that is always short in areas with light sweet?

      Comment


        #4
        Maybe someone will tell Mr Trump that running a trade deficit is a feature of maintaining the world's reserve currency status, not a bug.

        But that wouldn't make for a very good tweet.

        Comment


          #5
          Originally posted by shtferbrains View Post
          Is the crack not more favorable on the Canadian crude?
          More diesel that is always short in areas with light sweet?
          Certainly. More goodies in heavy sour than light. Not only more diesel and jet fuel but also every other petrochemical which are precursors to a host of a lot of products. Light oil is easy to refine into gasoline but that’s its best strength.

          Comment


            #6
            it's highly amusing how one of the trolls starts these threads thinking it's going to be contentious. Then it backfires when intelligent posters with actual technical knowledge of the topics come along and redirect the thread into a civil informed discussion.

            Comment


              #7
              Originally posted by AlbertaFarmer5 View Post
              it's highly amusing how one of the trolls starts these threads thinking it's going to be contentious. Then it backfires when intelligent posters with actual technical knowledge of the topics come along and redirect the thread into a civil informed discussion.
              It is the most productive and positive ways to make this stain on humanity irrelevant.

              Comment


                #8
                Seen in another thread how Chuck was saying no one would agree with him on Trumps trade deficit nonsense but appears we are. Have backed off giving Chuck a hard time and been the bigger person. Even have agreed with some of his posts but the reaction is “screw you, you’re all assholes!” We all go through tough shit out of our control and of our own design. Some humility and self searching goes a long ways or you can get in such a dark place cause you can’t walk yourself back and the only option is the ultimate price. Seen too many close people get that far and I do not wish that upon anyone.

                Comment


                  #9
                  I wonder how incredibly bad our Canadian budget deficit is going to be ?????
                  I am not to concerned with the rhetoric of Trump , but terrified of of Canadas financial situation for my kid’s future

                  Comment


                    #10
                    Sorry for being disagreeable but, unless I'm reading a couple of posters wrong in their definition of crack products from heavy crude and light crude, heavy crude refines to grade 3 and higher fuel oils and heavy marine fuel, and byproducts like asphalt, lubricant oils and waxes. Light crude refines to high value products such as gasoline, diesel fuel and jet fuel.

                    Comment


                      #11
                      Originally posted by checking View Post
                      Sorry for being disagreeable but, unless I'm reading a couple of posters wrong in their definition of crack products from heavy crude and light crude, heavy crude refines to grade 3 and higher fuel oils and heavy marine fuel, and byproducts like asphalt, lubricant oils and waxes. Light crude refines to high value products such as gasoline, diesel fuel and jet fuel.
                      Local heavy crude here is known for its low wax content which makes some of the best diesel and jet fuel. As well as asphalt. Every oil deposit can vary in the petrochemical fractions it contains. Cracking the heavy also has other byproducts such as coke and sulfur used for a host of industrial purposes. Every time I drive by the local upgrader and see the massive tanks labelled diesel, naphtha, butane, jet fuel, and every fuel distributor’s semis lined up filling up with locally produced number1 and number 2 diesel I know it isn’t junk. To say it’s no better than bunker fuel and stove oil you are not well informed.
                      Last edited by WiltonRanch; Dec 16, 2024, 02:17.

                      Comment


                        #12
                        I guess the industry will have to redefine heavy crude as described in WR territory.

                        Question: More diesel that is always short in areas with light sweet? sfb

                        Answer: Certainly. More goodies in heavy sour than light. Not even more diesel and jet fuel but...

                        Did say, sorry. Should have said, is that described, "typical".

                        Comment


                          #13
                          Nobody's wrong.
                          Seems sometimes the value of heavy crude is trashed in order to get more favorable royalty bargains?

                          Comment


                            #14
                            Glad to see some of the trolls from Alberta agree that Donnie is off his rocker on a lot of things!

                            He can't get the numbers right and he is about to increase the cost of everything with a 25% tariff.

                            So where will Dumpster get 4 million barrels a day if not from Alberta?

                            Looks like they need us as much as we need them. There will be no winners if Trump forges ahead with his stupid ideas!

                            And you still think this guy is fit to lead the USA? LOL

                            Comment


                              #15
                              77.2 million seen Trump as the best option , and i don't think they care about your opinion cc

                              Comment

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