According to the ‘fitness‐suitability' hypothesis, ongoing changes in climate are expected to affect habitat suitability and hence species' fitness. In trees, differences in fitness may manifest as changes in growth rates, which will alter carbon uptake. Using tree‐ring data, we calculated > 1.5 million annual stem growth rate estimates (standardized for tree size) for 15 677 trees representing 37 species from 558 populations throughout eastern North America. We used collections data and species distribution models to estimate each population's climatic suitability from 1900 to 2010. We then assessed the relationships between growth, suitability and time using linear mixed‐effects models. We found that stem growth rates decreased significantly through time independent of changes in climate suitability and that relationships between growth rates and climate suitability were highly variable across species. Contrary to expectations, we found that growth rates were negatively correlated with species' climate suitability, a relationship that was consistent over time for gymnosperms and became more negative through time for angiosperms. These results may suggest that stem growth rates are not a good proxy for fitness and/or that unidentified factors may be slowing tree growth and outweighing any potential benefits of climate change and increasing atmospheric CO2 concentrations. Regardless of the cause, this finding indicates that we should not count on the increased growth of eastern North American trees to help offset anthropogenic carbon emissions.