Trudeau Forced to Fact-Check Trump’s Weird Post on Canada’s Banks
During a press conference on tariffs, Canadian Prime Minister Justin Trudeau corrected Donald Trump’s blatant lie about banking in Canada.

Amid the turmoil over his crazy decision to slap tariffs on Canada, Mexico, and China, President Trump saw fit to post a bizarre lie about banks in Canada—forcing Canadian Prime Minister Justin Trudeau to correct him publicly.
“Canada doesn’t allow American Banks to do business in Canada, but their banks flood the American Market. Oh, that seems fair to me, doesn’t it?” Trump posted Tuesday morning. But this isn’t true, and Trudeau made sure Trump knew it.
Hours later, while speaking to the press, Trudeau called out the president for “not really being able to see what it is that he wants.”
“I heard he talked about banking again this morning in a tweet, which doesn’t make any sense because 16 American banks [are] currently active in Canada, holding about $113 billion worth of assets in this country, so American banks are alive and well and prospering in Canada,” Trudeau said.
“What he wants is to see a total collapse of the Canadian economy, because that’ll make it easier to annex us,” Trudeau added, alluding to Trump’s threats to annex Canada as the “fifty-first state.”
Trudeau: "I heard he talked about banking again this morning in a tweet, which doesn't make any sense because 16 banks are currently active in Canada holding about $113b worth of assets in this country, so American banks are alive and well and prospering in Canada. It's an… pic.twitter.com/9Sexw914j1
— Aaron Rupar (@atrupar) March 4, 2025
In a move usually made by U.S. presidents toward people living under autocratic rule, Trudeau made a direct plea to the American public, telling them Canada was forced to enact retaliatory tariffs against the U.S.
“We don’t want this. We want to work with you as a friend and ally. And we don’t want to see you hurt, either, but your government has chosen to do this to you,” Trudeau said.
“Your government has chosen to put American jobs at risk at the thousands of workplaces that succeed because of materials from Canada, or because of consumers in Canada, or both,” Trudeau added.
Trump is not going to take kindly to Trudeau correcting him, and he’ll never admit that he was wrong. He may even be lying on purpose to stir up the MAGA base. But he’ll have to come up with a better way to spin the economic fallout from his plan, which promises to hike prices on all kinds of goods in the U.S. and cause untold damage to the economy.