Genius!
Trump has said the tariffs are necessary to remedy an expansive trade deficit with Canada. (The country exports more to the U.S. than it imports.)
However, America’s decline in international tourism has helped fuel a travel trade deficit, as more Americans are travelling abroad than international tourists are visiting the U.S.
The U.S. has historically enjoyed a travel trade surplus. But for 2025, the Travel Association forecasts a deficit of nearly $70 billion US.
Canadians are big mad and kind of broke. So it’s probably a bit of both causing the decline.
Yeah, probably. StatsCan reports:
Would be interesting to see the number who left and did not return. I understand that number has been growing steadily over the past decade, especially for the top 10% of earners.
We drove the US in May and I have to admit the border was an absolute breeze both ways. I doubt it keeps up though. I mean the elbows up thing lasted all of two months.