OTTAWA — The country’s merchandise trade balance fell to a deficit of $1.5 billion in February as exports fell, Statistics Canada said Thursday.
The federal agency said the result compared with a surplus of $3.1 billion in January.
CIBC senior economist Katherine Judge said a tariff front-running boost to exports reversed sharply in February, causing Canada’s trade balance to swing to a deficit.
The trade report came a day after U.S. President Donald Trump announced new reciprocal tariffs on many countries around the world, sparking concerns of a global recession.
“Looking ahead, although USMCA goods were exempt from tariffs in March, U.S. businesses appear to have accumulated enough inventory
→ Continue reading at BIV