Canada's exports to its biggest customer, the US, and other countries fell sharply in February, and the Trump administration's tariff threats and implementation began to change global trade flows. Statistics Canada said on Thursday that in February, Canada unexpectedly had a deficit of 1.5 billion Canadian dollars in global merchandise trade. In January, there was a surplus of 3.1 billion Canadian dollars, and the median estimate of the economists surveyed was a surplus of 3.5 billion Canadian dollars. Canada's trade surplus with the US narrowed to 10.6 billion Canadian dollars in February, before reaching a record high of 13.7 billion US dollars in January. The reason for the narrowing was the decline in exports. Previously, companies rushed ahead of schedule in anticipation of the US-Canada tariff war, and exports to the US reached a record high in January. Canada's exports to other countries also fell. Overall exports fell 5.5% in February, while imports increased by 0.8%.

Canada's exports to its biggest customer, the US, and other countries fell sharply in February, and the Trump administration's tariff threats and implementation began to change global trade flows. Statistics Canada said on Thursday that in February, Canada unexpectedly had a deficit of 1.5 billion Canadian dollars in global merchandise trade. In January, there was a surplus of 3.1 billion Canadian dollars, and the median estimate of the economists surveyed was a surplus of 3.5 billion Canadian dollars. Canada's trade surplus with the US narrowed to 10.6 billion Canadian dollars in February, before reaching a record high of 13.7 billion US dollars in January. The reason for the narrowing was the decline in exports. Previously, companies rushed ahead of schedule in anticipation of the US-Canada tariff war, and exports to the US reached a record high in January. Canada's exports to other countries also fell. Overall exports fell 5.5% in February, while imports increased by 0.8%.