Canada begins to diversify its trade, but U.S. tariffs still a ‘heavy weight’

OTTAWA — Canada’s efforts to broaden trade beyond the United States appear to be bearing fruit, but economists warn it will be a long road before Canadian exporters settle at a new status quo. Statistics Canada said Thursday that the country’s merchandise trade deficit — the difference between how much we ship out and how much we bring in — 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…