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Canada July trade surplus shrinks, weeks before new U.S. tariffs
Statistics Canada said exports fell 2.3% and imports rose 2.2%, leaving a C$769 million surplus and signaling pressure from U.S. tariffs.
- Statistics Canada reported on Thursday that Canada's trade surplus narrowed sharply to C$769 million in July, down from a four-year high of C$4.2 billion in June.
- The decline resulted from a 2.3% drop in exports led by energy and metal shipments, while imports rose 2.2% driven by an 11.4% surge in motor vehicle parts.
- Total exports fell to C$76.14 billion, though aircraft and transportation equipment shipments surged 34.9%, partially offsetting broader sectoral weakness across commodity markets.
- Canada's trade surplus with the United States shrank by more than 40% to C$5.9 billion as exports to the country dropped 6.6% while imports increased 1.8%.
- Washington's 50% new tariffs imposed last month will provide a tougher test for exporters in coming months, threatening to further pressure trade flows already strained by sectoral volatility.
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Canada July trade surplus shrinks, weeks before new US tariffs
Canada's trade surplus narrowed sharply in July as exports of energy and metal products shrank while imports rose, just weeks before Washington's new 50% tariffs begin to show up in statistics, posing a stiffer test for Canadian exporters.
·London, United Kingdom
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Total News Sources14
Leaning Left6Leaning Right1Center5Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 42%
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