Canadians Load Up on US Stocks Despite Donald Trump’s Trade War

US President Donald Trump’s tariffs, threats of annexation and assorted insults have infuriated Canadians, leading them to sell off American real estate and boycott products. The nation’s investors seemingly never got the memo.

Canadian investors have injected C$124 billion ($89.7 billion) into US stocks in 2025, even as Trump’s trade war disrupted the two countries’ longstanding, largely tariff-free relationship, according to data compiled by Warren Lovely at National Bank of Canada Financial Markets. That’s on track for the largest yearly inflow since at least the 1990s.