Canada trade surplus reaches four-year high in August
Canada trade surplus widens as exporters rush shipments before U.S. tariffs See how August exports, imports and tariff pressure pushed the surplus to $4.2B
Canada's trade surplus widened to $4.2 billion in August, the largest in more than four years, according to Statistics Canada.
The increase came as exporters accelerated shipments to the United States ahead of new 50% tariffs from the Trump administration, which took effect on Aug. 22. Exports to the U.S. rose 8.1% in the month, while imports from the U.S. fell 2.5%, pushing Canada's surplus with its largest trading partner to $11.2 billion.
Overall exports climbed 2.5% to $77.91 billion, led by energy products, consumer goods, machinery and electronics. Imports fell 2% to $73.71 billion, and Canada’s trade deficit with countries outside the U.S. widened in August.