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The trade deficit with Canada that’s upset Trump so much is due to crude the U.S. buys at a discount for the Midwest. ‘It’s the only oil they can use’

Written and edited by the WorldPing NewsdeskPublished Updated Original reporting: Fortune
The trade deficit with Canada that’s upset Trump so much is due to crude the U.S. buys at a discount for the Midwest. ‘It’s the only oil they can use’WorldPing
Image via Fortune.

What happened

“They can’t use Texas crude.

They can’t use Venezuelan crude.

They’re not set up for it.

It would take years and billions of dollars to shift over.’’…

Key facts

  • It would take years and billions of dollars to shift over.’’…
  • Reported by Fortune and published Sat, 12 Sep 2026 20:36:36 UTC.

Why it matters

Economic releases and corporate results feed directly into rate expectations, currency moves and equity pricing, so the detail here often matters more to markets than the headline itself.

What to watch next

  • Revisions to the initial figures once fuller data is released
  • How rate expectations and index futures respond
  • Guidance or commentary from the companies and policymakers involved

Coverage timeline

When each newsroom published on this story, oldest first — all times UTC.

  1. GM plans U.S. battery development as Trump's DOT attacks Ford for China ties

  2. After attack on Saudi pipeline, Trump says Houthis don’t want the U.S. involved — ‘everything’s going to work out fine and dandy’

  3. The trade deficit with Canada that’s upset Trump so much is due to crude the U.S. buys at a discount for the Midwest. ‘It’s the only oil they can use’

  4. Trump’s childhood home sells for $1.9 million after prior owner bought it for $835,000 last year, when it was a mold-ridden den of feral cats

Sources

The original report was published by Fortune. WorldPing does not claim that reporting — this page summarises and contextualises it.

Read the full report at Fortune

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