Canada’s trade surplus with U.S. widens to most since 2008

[mentalfloss]

Good economic news.

Thanks Trump Tariffs! :lol:


Canada’s trade surplus with U.S. widens to most since 2008

OTTAWA—Canada’s merchandise trade deficit with the world shrank to $114 million in July, the smallest since a surplus in December 2016, as its trade surplus with the United States grew to the biggest in a decade, Statistics Canada reported Wednesday.

The federal agency reported that merchandise exports to the United States rose 3.3 per cent in July to $38.4 billion, while imports of American goods edged down 0.1 per cent to $33.1 billion in July.

As a result, Canada’s merchandise trade surplus with the United States widened to $5.3 billion in July, from $4.1 billion in June — the biggest monthly trade surplus with its largest trading partner since October 2008.

President Donald Trump has claimed that the United States needs to eliminate large trade deficits with Canada, but a report from the U.S. Trade Representative says a 2017 deficit in goods (US$17.1 billion, C$22.6 billion) was outweighed by a US$25 billion ($C33 billion) surplus in services sold to Canada.

Statistics Canada noted that July was the first month that Canada charged retaliatory tariffs on imported American steel and aluminum and the second month of U.S. tariffs on Canadian steel and aluminum.

https://www.thestar.com/amp/busines...urplus-with-us-widens-to-most-since-2008.html

 

[Twin_Moose]

Good for our country shitty for NAFTA negotiations gives Trump camp extra ammunition to use against us in the final push of an agreement

 

[Hoid]

It shows who is under pressure.

We seem to be doing fine.

 

[Bar Sinister]

Guess we better blame that on Trudeau.

 

[White_Unifier]

Good economic news.
Thanks Trump Tariffs! :lol:
Canada’s trade surplus with U.S. widens to most since 2008
OTTAWA—Canada’s merchandise trade deficit with the world shrank to $114 million in July, the smallest since a surplus in December 2016, as its trade surplus with the United States grew to the biggest in a decade, Statistics Canada reported Wednesday.
The federal agency reported that merchandise exports to the United States rose 3.3 per cent in July to $38.4 billion, while imports of American goods edged down 0.1 per cent to $33.1 billion in July.
As a result, Canada’s merchandise trade surplus with the United States widened to $5.3 billion in July, from $4.1 billion in June — the biggest monthly trade surplus with its largest trading partner since October 2008.
President Donald Trump has claimed that the United States needs to eliminate large trade deficits with Canada, but a report from the U.S. Trade Representative says a 2017 deficit in goods (US$17.1 billion, C$22.6 billion) was outweighed by a US$25 billion ($C33 billion) surplus in services sold to Canada.
Statistics Canada noted that July was the first month that Canada charged retaliatory tariffs on imported American steel and aluminum and the second month of U.S. tariffs on Canadian steel and aluminum.
https://www.thestar.com/amp/busines...urplus-with-us-widens-to-most-since-2008.html

It's part of a self-fulfilling prophecy. Trump threatens to tear up NAFTA. That causes the CAD to drop in value. Any surprise that Canadian exports to the US are rising? Trump's talk caused exactly what he didn't want, the incompetent fool... either that or he's smarter than we thought and hoped for just that to happen?