US Edition
Canada's exports to U.S. shrink to smallest share since 1997: Statistics Canada
- Statistics Canada reported on July 3, 2025, that Canadian exports to the U.S. fell 0.9% in May, dropping to 68.3% of total exports, a near-record low since 1997 excluding the pandemic years.
- This decline occurred amid a protracted trade war starting in February 2025, with U.S. tariffs, including steel and aluminum doubled to 50%, weighing heavily on bilateral trade.
- Meanwhile, total Canadian exports rose 0.7% in May, primarily driven by higher gold shipments, while exports to non-U.S. countries surged 5.7% to reach a record high.
- Economist Alexandra Brown of Capital Economics described the rise in shipments to countries outside the U.S. as “a small consolation” and noted in a report to investors that export prospects remain poor.
- Canada’s merchandise trade deficit decreased to $5.9 billion in May from a record $7.6 billion in April, influenced by declining imports and continued tariff challenges that hinder export growth.
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Canada's trade deficit narrows in May, US exports drop to lowest since pandemic
Canada's trade deficit in May narrowed after a record-breaking deficit in April as total exports rose and imports fell even as the impact of U.S. tariffs dented shipments south of the border, data showed on Thursday.
·United Kingdom
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Canada’s Finance Minister Sees Path to Avoid Baseline US Tariff
Canada’s finance minister said the country can negotiate a better trade deal with the Trump administration than other nations have received, pushing back on the idea that it may have to settle for a new baseline tariff on all exports to the US.
·United States
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Canada's Trade Deficit in May Narrows, Exports to the U.S ...
·New York, United States
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Coverage Details
Total News Sources57
Leaning Left15Leaning Right5Center14Last UpdatedBias Distribution44% Left
Bias Distribution
- 44% of the sources lean Left
44% Left
L 44%
C 41%
15%
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