Trump Warns He Cannot Accept Imbalance in Canadian Dollar Exchange Rate Ahead of Retaliatory Tariffs

[Financial News]  United States President Donald Trump has strongly criticized the value of the Canadian dollar and the trade imbalance between the two countries, two days before Canada is set to impose retaliatory tariffs.
The Hill reported on the 7th (local time) that President Donald Trump said on his social media platform Truth Social, "The imbalance between the Canadian dollar and the United States dollar is unacceptable," adding, "I will no longer tolerate this situation, which has continued for years."
One Canadian dollar currently trades for about 72 United States cents. This weak currency has long been cited as a major factor boosting Canada’s export competitiveness in the United States. According to the United States Census Bureau, the United States’ trade deficit with Canada exceeded $48 billion (approximately 65 trillion won) last year.
According to Canadian statistical authorities, Canada recorded a trade surplus of $769 million (approximately 1.0349 trillion won) with the United States in July.
Trump’s remarks came just before the Canadian government was set to impose retaliatory tariffs on major imports from the United States, including steel, dairy products, home appliances, farm equipment, pulp and paper, and electronic products, in response to the United States’ high tariffs. After the United States imposed 50% tariffs on $27.6 billion worth of Canadian products, Canada announced that equivalent import duties would take effect on the 9th.
Since the start of his second administration last year, President Donald Trump has targeted Canadian Prime Minister Mark Carney amid the trade conflict, saying, "Canada wants to enjoy the benefits without becoming a state of the United States." He has also continued to mention the possibility of annexing Canada.
President Donald Trump also raised the pressure on major exporters to the United States, saying they were gaining economic advantages through eight forms of "unfair practices," including currency devaluation, below-market dumping, unauthorized copying of United States products, and export rebates.

[email protected] Yoon Jae-jun Reporter