Trade surplus widens to $4.2-billion in August as exporters rush to beat U.S. tariffs
Canada's trade surplus widened to $4.2 billion in August as businesses accelerated exports to the U.S. to avoid impending 50% tariffs. Despite the surge, trade talks between the two nations ultimately failed.
Why it matters
The data illustrates how geopolitical trade tensions and tariff threats can cause significant short-term fluctuations in national trade balances and supply chain behavior.
Containers are unloaded from a container ship at Deltaport, at Roberts Bank, in Delta, B.C., in July. Canada's exports to the U.S. surged 8.1 per cent, marking the sixth monthly trade surplus in a row. DARRYL DYCK/The Canadian Press
Exports to the United States surged in August as Canadian businesses rushed to get ahead of looming U.S. tariffs.
Statistics Canada said Tuesday the country’s merchandise trade surplus increased to $4.2-billion in August, up from a surplus of $787-million in July. August marked the sixth monthly trade surplus in a row.
Total exports increased 2.5 per cent to total $77.9-billion for the month, helped by a 4.7 per cent rise in exports of energy products, the first increase for the category since April.
Excluding energy products, exports were up 1.8 per cent.
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