There was a cumulative $370 billion trade deficit going back to 2007, and a nearly $800 billion trade deficit back to year 2000. There has been a trade deficit with Canada every year the past 30+ years, including so far in 2018. [1]
How would Canada like to run a $800 billion trade deficit with the US over the next 17 years? You know, just to make things fair over time. Didn't think so.
On the upside, the trade deficit has narrowed from a common $30 billion five years ago, to more like $10 to $15 billion. That's a pretty happy result if you're the US, given it's a consumption engine (lower domestic savings at the median, higher consumption rate, which pushes up demand for imports in most cases).
Funnily enough, the US numbers show a trade deficit with Canada, and the Canadian numbers show a trade deficit with the US. Who knew - it turns out that how you compute these things gives you the ability to wiggle a bit.
What is generally accepted though, is that internationally speaking the US and Canada are one of the most balanced know of, over long periods, and for major trading partners.
Pretending otherwise is just serving partisan politics at this point.
How would Canada like to run a $800 billion trade deficit with the US over the next 17 years? You know, just to make things fair over time. Didn't think so.
On the upside, the trade deficit has narrowed from a common $30 billion five years ago, to more like $10 to $15 billion. That's a pretty happy result if you're the US, given it's a consumption engine (lower domestic savings at the median, higher consumption rate, which pushes up demand for imports in most cases).
[1] https://www.census.gov/foreign-trade/balance/c1220.html