Cargo containers stacked at the Port of Vancouver Centerm container terminal on Oct. 14, 2022. Canada’s trade deficit ballooned to $7.1-billion in April from $2.3-billion the prior month, far above analyst expectations.
DARRYL DYCK/THE CANADIAN PRESS
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Canadian exports cratered in April and the trade deficit soared to a record high, as U.S. tariffs hammered demand for Canadian goods and companies pulled back after rushing products across the border.
The value of exports to the U.S. fell a stunning 15.7 per cent, compared to the previous month, Statistics Canada reported Thursday. The decline was broad-based, led by a sharp pullback in autos, consumer goods and crude oil exports. Imports from the U.S. dropped 10.8 per cent.
