Canada’s trade surplus fell sharply to approximately C$769 million in July from C$4.2 billion in June, driven by a significant drop in exports to the United States. Exports to the US declined by 6.6%, the sharpest fall since April 2025, while imports increased by 2.2%. Exports to non-US countries hit a record high of C$25.6 billion, up 7.4%. This occurs amid looming tariff implementations in August 2026, raising concerns about the integrated North American auto supply chain.
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