3 days ago
Canada Trade Deficit Hits Record as US Tariffs Crush Exports
By
Updated on
Save
Canadian exports plunged by the most in nearly 17 years outside of the pandemic, widening the country's merchandise trade deficit to the largest on record.
With demand from the US cratering due to the Trump administration's tariffs, Canada's trade deficit reached C$7.1 billion ($5.2 billion) in April, from C$2.3 billion, according to Statistics Canada data Thursday. The deficit far exceeded even the most pessimistic projection in a Bloomberg survey of economists.
