Business news from Ukraine

Business news from Ukraine

Trump calls Canadian leadership “clowns” and threatens harsher economic consequences

U.S. President Donald Trump has sharply stepped up pressure on Canada amid an escalating trade conflict between the two countries, calling Canadian leaders “clowns” and warning of significantly harsher economic consequences if Ottawa does not change its position.

Trump published the statement on Truth Social on August 24, 2026, following a new exchange of accusations with Canadian Prime Minister Mark Carney and Ontario Premier Doug Ford.

“America has carried Canada on its back for decades, but that will no longer happen,” the U.S. president wrote. At the end of his message, he called for the Canadian leadership to be made to “fall in line,” otherwise the consequences for the country would be “much worse.”

Trump spoke particularly harshly about Doug Ford, who had previously threatened to use electricity and critical mineral supplies to the United States as a retaliatory measure against U.S. tariffs.

The U.S. president also said that Canada was economically dependent on the United States and noted that a significant share of the electricity, oil and gas received by the country was transported through U.S. territory.

Official statistics, however, show a more complex picture. The two countries’ energy systems are indeed extremely closely interconnected, but Canada remains a major net exporter of energy resources to the United States.

According to the Canada Energy Regulator, in 2025 Canada exported CAD157.5 billion worth of oil, petroleum products, natural gas and gas condensate to the United States, while importing only CAD34.4 billion worth of similar products from the United States.

About 90.8% of Canadian hydrocarbon exports were sent specifically to the United States. In particular, Canada exported 4.3 million barrels of oil per day, of which about 3.9 million barrels went to the U.S. market.

In the opposite direction, Canada imported about 0.5 million barrels of oil per day, with approximately 76% of these supplies coming from the United States. Canada is also a major net exporter of natural gas: in 2025, it supplied about 8.6 billion cubic feet of gas per day, almost entirely to the United States, while simultaneously importing 2.5 billion cubic feet per day, predominantly from the United States.

The two countries’ electricity systems are also integrated. In 2025, Canada exported 32.7 TWh of electricity to the United States and imported 22.1 TWh. At the same time, all of Canada’s international electricity trade is conducted with the United States.

Thus, Trump’s statements have some basis in terms of the Canadian economy’s high dependence on U.S. transportation and energy infrastructure. At the same time, however, Canada is one of the most important suppliers of energy resources to the United States itself. In 2025, it accounted for 63.4% of U.S. crude oil imports, almost 100% of natural gas imports and 81.3% of electricity imported by the United States.

Trump’s statements followed the collapse of U.S.-Canadian trade negotiations.

The United States has already imposed 50% tariffs on approximately $20 billion worth of Canadian goods, while on August 24 Trump additionally threatened to raise tariffs on all cars, trucks and automotive components imported from Canada to 50% beginning January 1, 2027.

Washington had previously proposed reducing duties on Canadian passenger cars and light trucks from 25% to 15% and on steel and aluminum from 50% to 25% as part of an agreement. The negotiations collapsed, however, because of several disagreements.

Canada is preparing retaliatory measures. Ottawa announced that it would impose retaliatory tariffs on U.S. goods beginning September 8, while provincial authorities have not ruled out using energy and critical minerals as additional instruments of pressure.

Ontario Premier Doug Ford said that, in the event of further escalation, “everything is on the table,” including restrictions on supplies of electricity and strategic raw materials. According to him, electricity from Ontario supplies about 1.5 million homes and businesses in the United States.

Canadian Prime Minister Mark Carney, in turn, said that Ottawa was prepared to return to negotiations only if Canada was treated as a sovereign partner rather than as a territory dependent on the United States.

Trade relations between the two countries remain among the largest in the world. In 2025, trade in goods and services between the United States and Canada amounted to approximately $872.3 billion, with about three-quarters of Canadian merchandise exports going to the U.S. market.

Another claim made in Trump’s message is not supported by official statistics. The U.S. president said that unemployment in Canada had reached 10%, while the latest data from Statistics Canada showed that it stood at 6.4% in July 2026 — its lowest level in two years.

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