Fact Check: U.S. goods trade with Canada totaled $762 billion last year

Fact Check: "U.S. goods trade with Canada totaled $762 billion last year"

What We Know

The claim that "U.S. goods trade with Canada totaled $762 billion last year" is supported by data from the United States Trade Representative, which states that U.S. total goods trade with Canada was an estimated $762.1 billion in 2024. This figure includes U.S. goods exports to Canada amounting to $349.4 billion and goods imports from Canada totaling $412.7 billion. The data indicates a slight decrease in both exports and imports compared to 2023, but the overall trade figure remains consistent with the claim.

Additionally, the Census Bureau confirms similar statistics, reinforcing the reliability of the $762 billion figure for total goods trade between the U.S. and Canada.

Analysis

The claim is corroborated by multiple credible sources, including the U.S. Trade Representative and the Census Bureau. Both sources provide detailed breakdowns of trade statistics, showing that the total goods trade figure of $762.1 billion is accurate for the year 2024.

The U.S. Trade Representative's data is particularly reliable as it is a government agency responsible for developing and recommending U.S. trade policy, making it a primary source for trade statistics. The Census Bureau also provides official trade data, which is regularly updated and verified, further supporting the accuracy of the claim.

Moreover, reports from reputable news outlets, such as CNBC, echo this figure, indicating that it is widely accepted in the media and economic analysis circles.

While the claim is straightforward and supported by reliable data, it is important to note that trade figures can be subject to revisions and updates as new data becomes available. However, as of the current reporting, the figure stands firm.

Conclusion

Verdict: True
The claim that "U.S. goods trade with Canada totaled $762 billion last year" is accurate based on multiple reliable sources, including government data from the U.S. Trade Representative and the Census Bureau. The consistency across these sources confirms the validity of the figure for 2024.