Canada’s trade surplus with U.S. hits highest level in three years
OTTAWA — Canada’s trade deficit fell in April and its surplus with the United States ballooned to its largest in three years, boosted by shipments of cars, natural gas and softwood lumber, Statistics Canada said Friday.
The country’s trade surplus with the U.S. hit $5.0 billion for the month, up from $3.4 billion in March, at a time when the Canadian dollar slipped 0.3 cents US compared to the greenback, the federal agency said.
The data could provide ammunition for U.S. President Donald Trump, who has pointed to what he says is America’s trade imbalance with Canada as a rationale for sweeping changes to U.S. trade policies, including revamping NAFTA.
Canadian exports south of the border rose 5.4 per cent to a record high $36.1 billion in April. Imports from Canada’s largest trading partner were up 1.1 per cent to $31.1 billion.