U.S. trade dries up in May but Canada’s exports to other nations rise: StatCan

News Snapshot:

OTTAWA — Canadian exports heading to the United States continued to dry up in May as trade picked up with other nations, Statistics Canada said Thursday. The agency said Canada's merchandise trade deficit narrowed to $5.9 billion in May as gold exports climbed higher. The result compares with a trade deficit of $7.6 billion seen in April — a record high, which StatCan said Thursday was revised up from initial estimates of $7.1 billion. Canadian exports got a boost in the early part of 2025 as businesses rushed to get ahead of U.S. tariffs, but that pull-forward has left weaker...