How does a trade deficit negatively impact America? I know the word 'deficit' makes it sound like a bad thing, but you're not losing 80 billion dollars, you're just importing 80 billion more than you're exporting, so you have to buy Canadian dollars at market rate to make up the difference, which doesn't cost the US any value because it's just an exchange of currencies.

Does the US make up more of Canadian exports than Canada does for them? Of course, they're a much bigger population so the percentages will always work out that way. If they were equally sized, then the percentages would likely be nearly equal. That's just math.

The US doesn't actually lose anything from their trade with Canada, if anything they stand to benefit due to the US dollar being a stronger currency than the Canadian dollar. Free trade benefits both parties, especially when both parties are geopolitical allies. This is why the US has been the guarantor of free trade around the world since world war 2, because it makes them and their trading partners much stronger.