Andrew Grantham of the Canadian Imperial Bank of Commerce Capital Market said that the newly released Canadian commodity trade data was better than expected, but the country still faces obstacles such as ongoing US tariffs and the upcoming renegotiation of the North American Trade Agreement. Canada unexpectedly achieved a small trade surplus in September, for the first time in eight months. Grantham pointed out that the rebound in exports in the third quarter was partly due to second-quarter trade flows falling below potential trend levels after rushing tariffs in the first quarter. Therefore, he won't be surprised if exports weaken again in the fourth quarter and a more sustained recovery only occurs later next year.

Andrew Grantham of the Canadian Imperial Bank of Commerce Capital Market said that the newly released Canadian commodity trade data was better than expected, but the country still faces obstacles such as ongoing US tariffs and the upcoming renegotiation of the North American Trade Agreement. Canada unexpectedly achieved a small trade surplus in September, for the first time in eight months. Grantham pointed out that the rebound in exports in the third quarter was partly due to second-quarter trade flows falling below potential trend levels after rushing tariffs in the first quarter. Therefore, he won't be surprised if exports weaken again in the fourth quarter and a more sustained recovery only occurs later next year.