Particle.news
Download on the App Store
10 ARTICLES
·
3d ago

Canada’s Trade Deficit Narrows to C$5.9 Billion as Exports to U.S. Hit Four-Year Low

A spike in U.K.-bound gold shipments has buoyed total exports ahead of trade talks with President Trump

A drone view shows shipping containers and transport trucks at the Port of Montreal in Montreal, Quebec, Canada April 14, 2025. REUTERS/Carlos Osorio/File Photo
Shipping containers are seen at the port of Oakland, as trade tensions continued over U.S. tariffs with China, in Oakland, California, U.S., May 12, 2025. REUTERS/Carlos Barria/File Photo
An aerial view shows a ship sailing past the Port of Montreal in Montreal on Thursday, Nov.14, 2024. THE CANADIAN PRESS/Christinne Muschi
The US trade deficit widens in May but both imports and exports declined, government data showed

Overview

  • Canada’s merchandise trade deficit shrank to C$5.9 billion in May from a revised C$7.6 billion in April, Statistics Canada reported.
  • Exports to the United States fell 0.9% for the fourth consecutive month, reaching their lowest level since 2020 under 25% auto and 50% steel and aluminum tariffs.
  • Overall exports rose 1.1% to C$60.8 billion, driven by a 30.1% surge in unwrought gold exports to a record C$5.9 billion.
  • Shipments to non-U.S. markets climbed 5.7% to an all-time high but did not fully offset declines to the U.S. and China.
  • Ottawa and the White House are working to finalize a trade agreement by July 21 to secure renewed tariff relief under the continental free-trade framework.