Trump Responds to Concerns About Canada Trade War Raising U.S. Prices

President Donald Trump brushed off affordability concerns related to his trade war with Canada in response to a question from the Daily Signal on Thursday.

Earlier this week, Trump announced he will impose tariffs on Canadian cars amid his trade war with our neighbor to the north. He has called Canada “one of the worst countries in the world to deal with.”

Canada retaliated against new U.S.-imposed tariffs, announcing it will impose a set of tariffs on over 700 American goods and doubling its duties on U.S. Steel and aluminum matching the U.S. rates on Canadian steel and aluminum.

When asked by the Daily Signal how this dispute will impact affordability ahead of the November 2026 midterm elections, Trump said what is he doing will be good for the country.

“Ultimately, it’s going to be very good for us because we’re losing,” he told the Daily Signal. “When you talk about affordability, we’re losing $62 billion a year on average with Canada, and if you really look at it, we’re losing more than that.”

“It’s too much. It’s too much. We can’t lose it. We don’t want to lose it. We don’t want to lose it anymore.”

He addressed affordability concerns after renaming Lake Ontario to Lake America by executive order, effective immediately.

“The lake change in the Lake of America was something I’ve been thinking about for a long time,” he said. “Actually, as you know, we took something called the Gulf of Mexico. We changed it, and now it’s very routinely the Gulf of America. So if you think about it, we have a Gulf and we have a lake.”

“Now all we need is an ocean,” he joked. “So maybe we’ll have to change the name of the Atlantic and/or the Pacific.”

Trump posted on Truth Social Tuesday that Canada has been “Ripping Off” America for decades.

“They have been charging our Farmers 400% Tariffs, and more,” he said. “They have driven many wonderful U.S. companies out of business. For 10 years they wouldn’t certify Gulfstream Jets, until I got involved. They wanted 100% of the market for Gulfstream’s Canadian competitor.”