Former U.S. President Donald Trump has criticized Canada’s banking rules, claiming they unfairly block American banks from operating in the country. Meanwhile, he says, Canadian banks have full access to the U.S. market.
Trump shared his thoughts on Truth Social, writing, “Canada doesn’t allow American banks to do business in Canada, but their banks flood the American market. Oh, that seems fair to me, doesn’t it?”
His statement comes at a time of rising trade tensions between the U.S. and Canada. Trump recently announced new tariffs—25% on all imports from Canada and Mexico and 10% on Canadian energy. These tariffs are set to take effect early Tuesday morning.
In response, Canada announced its own counter-tariffs on U.S. products. Prime Minister Justin Trudeau confirmed that Canada will impose 25% tariffs on $155 billion worth of American goods.
The situation is escalating as both nations prepare for the impact of these trade measures. The banking dispute adds another layer of tension to an already strained relationship between the two neighbors.