- Jun 19, 2020
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Recent trade numbers from Statistics Canada regarding trade between the US and Canada.
Just as China since the last Trump trade war actively reduced dependency on US exports, other countries will actively do the same. Yes, America has great demand for foreign products and this trade war is not going to change that. However, countries like businesses need consistency. And you can't get that if American voters put in charge of trade a administration led by a convicted con man who regularly had to file for bankruptcy who has no clue how trade works.
Exports to the United States fall
With the implementation of the new tariffs in March, exports to the United States decreased 6.6%, a second consecutive monthly decline following the strong ramp up in exports to the United States that led to a record in January. Despite the recent decreases, Canadian exports to the United States were 2.5% higher in March 2025 compared with November 2024. Meanwhile, imports from the United States fell 2.9% in March. Canada's merchandise trade surplus with the United States went from $10.8 billion in February to $8.4 billion in March.
Meanwhile, exports to countries other than the United States jump
Following a 12.4% decrease in February, exports to countries other than the United States rose 24.8% in March, representing the second-largest percentage increase on record. Exports to the United Kingdom (unwrought gold), the Netherlands (crude oil), Hong Kong (crude oil) and Germany (various products) increased the most for the month. Meanwhile, imports from countries other than the United States were up 1.0% in March. Canada's trade deficit with countries other than the United States narrowed from a record $12.2 billion in February to $9.0 billion in March.
Just as China since the last Trump trade war actively reduced dependency on US exports, other countries will actively do the same. Yes, America has great demand for foreign products and this trade war is not going to change that. However, countries like businesses need consistency. And you can't get that if American voters put in charge of trade a administration led by a convicted con man who regularly had to file for bankruptcy who has no clue how trade works.
