The U.S. ended 2024 with the second-largest trade deficit on record — and China and Mexico were the countries that benefited most from sending goods to America. Canada? Not so much.

President Trump agreed to delay tariffs on Mexico and Canada for a month after both countries pledged to do more to block drugs and migrants.

In the hours before Canadian Prime Minister Justin Trudeau announced a 30-day pause on US President Donald Trump’s threatened 25% tariff on Canadian goods, the co-founder of one of Canada’s largest auto parts manufacturers was bewildered.