United States President Donald Trump has criticized Canada’s banking regulations, alleging that American banks are barred from operating in the country while Canadian banks enjoy access to the U.S. market.
Trump made this claim in a post on Truth Social on Tuesday, 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 comments come amid escalating trade tensions between the two nations. Trump has vowed to impose 25% tariffs on all imports from Canada and Mexico, alongside a 10% tariff on Canadian energy. The tariffs are set to take effect at 12:01 a.m. EST (0501 GMT) on Tuesday.
In response, the Canadian government has announced a sweeping package of counter-tariffs targeting U.S.-made products.
Prime Minister Justin Trudeau, in a statement late Monday, confirmed that Canada will impose 25% tariffs on $155 billion worth of American goods.
The escalating trade dispute is expected to strain economic relations between the two North American allies.
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