It represents the trade deficit the USA has with Canada. To believe that this is a problem as a result of Canada's nefarious actions is to believe that Canada is preventing its citizens from purchasing American product.

Which is a common refrain with respect to our supply management system for dairy; but to believe this you have to ignore that the USA has _never once_ managed to export enough dairy products to Canada to meet or exceed the import quotas set by the supply management regime.

The truth is that Canadians simply don't seem all that interested in purchasing American dairy products.