Latest news with #CanadaTrade
CBC
29-05-2025
- Business
- CBC
U.S. court blocking tariffs gives Canada ‘a better position' to negotiate with Trump: Bloc leader
Bloc Québécois Leader Yves-François Blanchet said Thursday that a U.S. court's decision to overturn some of the Trump tariffs is good for Canada's trade negotiations. But he noted it doesn't affect tariffs on Canadian metals.
CTV News
11-05-2025
- Business
- CTV News
China-U.S. trade talks seen as 'a positive sign' for economy
Watch CTV U.S. political analyst Eric Ham weighs in on Trump's China tariff talks and their potential impact on future Canada trade negotiations.
CTV News
09-05-2025
- Business
- CTV News
CTV National News: What the U.S.-U.K. trade deal mean for Canada
CTV National News: What the U.S.-U.K. trade deal mean for Canada Vassy Kapelos says Canadian officials are taking the U.S.-U.K. trade deal as a 'somewhat positive sign' for their own trade negotiations.
CNN
06-05-2025
- Business
- CNN
Fact check: Trump claimed the US doesn't do ‘much business with Canada.' Canada is the world's top buyer of US exports
Washington CNN — During his Tuesday meeting with Canadian Prime Minister Mark Carney, President Donald Trump falsely minimized the importance of the US trade relationship with Canada. 'We don't do much business with Canada from our standpoint. They do a lot of business with us. We're at like 4%,' Trump said. That '4%' figure is wrong. Official US data shows that Canada bought about 17% of US goods exports in February and March, the last month for which data is available – more than any other country. Canada bought about 16% of US goods exports in January, second only to Mexico. Trump's 'we don't do much business with Canada from our standpoint' claim is too subjective to render a definitive fact-check verdict, but Carney's remark that 'we are the largest client of the United States' is confirmed by the US government itself. Official US data shows that Canada bought about $440 billion worth of US goods and services in 2024, more than any other country, and the Office of the US Trade Representative notes on its website that 'in 2024, Canada was the top destination for U.S. exports' as well as 'the third-largest source of U.S. imports.' Trump also repeated his frequent claim that the US is 'subsidizing Canada to the tune of maybe $200 billion per year.' Trump has previously made clear that he is speaking about the US trade deficit with Canada, but that is not even close to $200 billion. Official US statistics show the 2024 deficit with Canada in goods and services trade was about $36 billion. Even if you only count trade in goods and ignore the services trade at which the US excels, the deficit was about $71 billion. And even if he was this time using the word 'subsidizing' to describe unspecified other things in addition to the trade deficit, there is no basis for the claim.
Reuters
06-05-2025
- Business
- Reuters
Canada's trade deficit narrows more than expected in March as imports fall
Summary OTTAWA, May 6 (Reuters) - Canada's trade deficit narrowed to C$506 million ($366.34 million) in March, beating expectations as imports fell at a faster rate than the drop in exports, data showed on Tuesday. Imports of goods dropped 1.5% in March driven by a 2.9% slump in imports from the U.S. after Canada imposed retaliatory tariffs on its neighbor following President Donald Trump's 25% tariff on Canadian steel and aluminum from March 12. Exports to the U.S. also dropped by 6.6% but was almost compensated by an increase in exports to the rest of the world, Statistics Canada said. Analysts polled by Reuters had estimated total trade deficit to widen to C$1.56 billion in March, up from a revised C$1.41 billion in February. Trump's tariff threats end of last year and this year beginning had pushed Canadian firms to advance supplies south of the border boosting trade surpluses in December and January. But as tariffs took hold, shipments to the U.S. have squeezed. U.S. is Canada's biggest trading partner and Trump's tariffs have hurt trade, investments and jobs on both sides of the border. Canada's Prime Minister Mark Carney will be meeting Trump on Tuesday to start talks on a comprehensive trade and security deal, which experts have said could eventually lead to reducing the burden of tariffs on Canada. Canada's overall exports for March was at C$69.9 billion down from C$70.04 billion in February, led by the U.S. This was the second month in a row when exports fell. "Despite the two consecutive monthly declines, export levels remained relatively high in March, posting a 10.2% increase compared with the same month a year earlier," Statscan said, adding lower prices primarily led to the drop. In volume terms, exports were up 1.8% in March, it said. However, import fell in both value and volume terms. They dropped for the first time in five months with the largest contributors being metal and non-metallic mineral products by 15.8% and energy products by 18.8%. In volume terms, total imports edged down 0.1% in March. Imports in March were at C$70.40 billion, down from C$71.44 billion.
