‘We don’t need them’: Trump revives grievances with Canada over banking, aviation

As trade tensions continue to rise between Canada and the United States, U.S. President Donald Trump took aim at Canada again with a list of grievances to support his claim that their northern neighbour has been “ripping off” the U.S. for decades.

In a press conference on Wednesday, Trump claimed that Canada has been taking advantage of the United States by imposing what he called “tremendous tariffs” on American farmers. He also accused Canada of taking advantage of U.S. tourists and airlines.

Trump also voiced frustration over the lack of U.S. banks operating in Canada, saying it’s “sort of emblematic of the way they treat us,” a complaint he has repeatedly raised throughout the trade dispute.

“Canada has all of its major banks here and we’re their biggest source of income, far bigger than they are in Canada. They basically don’t allow banks of America to be in Canada,” he told reporters in the Oval Office.

“So, they have their banks here, Bank of Canada, all of them, big banks, big, beautiful banks. I think they have six or seven major banks here. We don’t have our banks there. You know why? They don’t allow it” he said.

However, the association representing bankers in Canada pushed back against Trump’s claims in 2025 when it confirmed that half of all foreign bank assets in the country are U.S. subsidiaries and branches.

Trump also revisited a longstanding grievance over aviation certification, claiming Canada has unfairly blocked sales of U.S.-made jets in the country.

He pointed to his January threat to impose steep tariffs on Canadian-made Bombardier aircraft unless Canada approved Gulfstream jets manufactured in the United States.

“Gulfstream is the best private jet, considered the best of the best, and they won’t certify it in Canada because they make a competitor, Bombardier Global Express, and so their competitor didn’t want them to have competition. So, for approximately nine years, this has been going on,” he said.

Though the federal government has yet to certify the Gulfstream G700 or G800 models due to manufacturing concerns, Transport Canada certified two models of the Gulfstream jets a month after Trump’s threats.

‘We don’t need them’: Trump on Canada

Referencing Prime Minister Mark Carney’s decision to walk away from a trade deal and impose dollar-for-dollar counter-tariffs starting on Sept. 8, Trump told reporters that “Canada has felt emboldened.”

He suggested the United States should reduce its reliance on the country, arguing the U.S. has better oil, gas and timber resources of its own.

“They need us. We don’t need them. They’ve taken advantage of us for years, and it’s time to stop” he said.

“We can’t lose (between) $60 to $100 billion a year for the privilege of allowing them to make cars. We don’t want their cars.”

A week after signing an executive order to rename Lake Ontario “Lake America,” a move that’s been met with condemnation from both Canadian and American politicians and companies, Trump defended the action saying “America and people in this country love it.”

“We do things like that because we’re fighting for our country. Canada has taken advantage of us,” he added.