Canada's April Trade Deficit Widens to Historic High as Tariffs Cripple Exports
Canada's trade deficit in April widened to an all-time high of a whopping C$7.1 billion ($5.2 billion), data showed on Thursday, as tariffs imposed by President Donald Trump sucked out demand for Canadian goods from the United States.
Its exports to the rest of the world rose, but could not compensate for the drop in exports to the U.S., data from Statistics Canada showed.
Exports to the U.S. shrank by 15.7%, a third consecutive monthly decline, Statscan said, adding that exports south of the border have fallen by over 26% since the peak seen in January...
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