US EditionCanadian trade with U.S. picked up in June despite tariffs: StatCan
CANADA, AUG 5 – Canadian exports to the U.S. rose 3.1% in June despite tariffs, supported by higher prices and high-value shipments, though export volumes remain down 12.5% year-on-year, Statistics Canada said.
- Statistics Canada said in June, Canadian exports to the U.S. rose 3.1% in June, expanding the trade surplus to $3.9 billion despite tariffs.
- By exempting most shipments, USMCA protected goods from Donald Trump’s 35% fentanyl tariffs, and 92% of Canadian exports entered duty free in June.
- Statistics Canada reported the trade deficit widened to $5.9 billion in June, with services exports rising one per cent to $18 billion, excluding a $2.1 billion equipment import surge.
- As a result, U.S. manufacturers face sector-specific U.S. duties, with Ford Motor Co. paying $800 million in tariff costs in Q2.
- Trade experts say in the recent report, analysts warn that trade uncertainty is expected to weigh heavily on the Canadian economy, as Q2 export volumes plunged 31.4%.
14 Articles
14 Articles
Exports to the United States increased by 3.1% in June, but were still down year-on-year.
Canadian trade with U.S. picked up in June despite tariffs: StatCan
Canadian exporters did more business with the United States in June even as tariffs ramped up, Statistics Canada said Tuesday. The agency said exports to the U.S. rose 3.1 per cent in June compared with the prior month, but were still down 12.5 per cent on a year-over-year basis. Canada’s trade surplus with the U.S. expanded to $3.9 billion in June from $3.6 billion in May as imports rose less than exports. Overall, Canada’s merchandise trade de…
Canadian trade with U.S. picked up in June despite tariffs: StatCan (Business)
Canadian exporters did more business with the United States in June even as tariffs ramped up, Statistics Canada said Tuesday. The agency said exports to the U.S. rose 3.1 per cent in June compared with the prior month, but were still down 12.5 per cent on a year-over-year basis. Canada's trade surp...
The U.S. administration's tariff rate on Canadian products reached 2.4% in June, up from 1.9% in May.
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