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Canadian Economy and Markets

U.S. President Donald Trump is threatening tariffs starting Feb. 1 on Canada and Mexico because he says both countries are allowing a “vast number” of people and fentanyl to come into the United States.

Here are some figures on border encounters, drug seizures and trade into America. Figures are from October 2023 to September 2024 unless stated otherwise.

Fentanyl seizures at U.S.-Canada border: 20 kilograms

Fentanyl seizures at all U.S. borders: 9,930 kilograms

Apprehensions and expulsions at U.S.-Canada border: 198,929

Apprehensions and expulsions at all U.S. borders: 2,901,142

Daily trade across Canada-U.S. border: US$2.5 billion

U.S. jobs tied to Canada trade: 8 million

U.S. merchandise trade deficit with Canada in 2023: US$64.3 billion

U.S. energy trade deficit with Canada in 2023: US$92.9 billion

Sources: Border and migration figures by U.S. Customs and Border Protection. Trade and jobs figures by the Government of Canada

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