Trump Renames Lake Ontario as Lake America, Says Canada Is Ripping Off the US

Watch on YouTube ↗  |  August 27, 2026 at 18:02  |  3:12  |  Bloomberg Markets
Speakers
Donald Trump — President of the United States

Summary

President Trump signs an executive order renaming Lake Ontario to Lake America, citing US territorial volume. He then turns to trade, accusing Canada of ripping off the US and claiming the US loses about $60 billion a year carrying Canada. Trump announces substantial tariffs on Canadian cars and possibly other products to force production into the United States. He also muses about renaming the Atlantic or Pacific.

  • Trump signs an order renaming Lake Ontario to Lake America effective immediately.
  • The Interior Department is directed to update the Geographic Names Information Service.
  • Trump claims Canada rips off the US on trade and defense, costing about $60 billion a year.
  • Trump announces substantial tariffs on Canadian cars.
  • The policy goal is to shift car production to the United States.
  • Trump says many other products may face tariffs.
  • Trump references the Gulf of America rename and possible future ocean renames.
Ideas
Donald Trump President of the United States 1:24
Canada trade relationship turns confrontational
Trump argues Canada has exploited the US on trade and defense, costing the US about $60 billion a year over 15 years, and says the US will no longer carry Canada, signaling further tariffs beyond autos and a more confrontational trade stance toward Canada.
Donald Trump President of the United States 2:20
Tariffs favor US automakers over Canadian imports
Trump says the US will impose substantial tariffs on Canadian cars because Canada has been ripping off the US on trade and the US wants cars made domestically; the policy is intended to shift production away from Canadian auto imports and toward US auto manufacturing.
Donald Trump President of the United States 2:20
Tariffs favor US automakers over Canadian imports
Trump says the US will impose substantial tariffs on Canadian cars because Canada has been ripping off the US on trade and the US wants cars made domestically; the policy is intended to shift production away from Canadian auto imports and toward US auto manufacturing.
Up Next

This Bloomberg Markets video, published August 27, 2026, features Donald Trump discussing EWC, XLY, Canadian auto exports. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Donald Trump  · Tickers: EWC, XLY, Canadian auto exports