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Canada's Trade Deficit Soars to Record $7.1 Billion

6/5/2025

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Summary

Story summary

Canada's trade deficit hit a staggering $7.1 billion in April, a record high fueled by a sharp 10.8% decline in exports, particularly to the U.S., which saw a 15.7% drop. This downturn severely affected vital industries like automobiles, while U.S. imports also fell by 20%, underscoring the escalating trade tensions.

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Story summary

Canada's trade deficit hit a staggering $7.1 billion in April, a record high fueled by a sharp 10.8% decline in exports, particularly to the U.S., which saw a 15.7% drop. This downturn severely affected vital industries like automobiles, while U.S. imports also fell by 20%, underscoring the escalating trade tensions.