Quote:
Originally Posted by SebC
Population is kind of relevant. Our imports are more tied to our population than our exports, as our exports are partially driven by land (and therefore resources). With a higher population we would both consume more of our resources internally and have higher demand for foreign goods. Not that would necessarily be a net positive thing for the USA.
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It's about the relative amount of imports/exports. Even with their natural resources, Canada had a trade deficit with the US as recently as 2016 to 2020.
The recent surplus is all about energy. Pipeline expansion and the US refinery capabilities are two of the big reasons. Honestly though, not hard to see a world where this could change. Just not because of tariffs though.