OTTAWA — Canada posted a merchandise trade surplus of $769 million in July as exports fell for the first time in six months, Statistics Canada said Thursday.
The result, which compared with a surplus of $4.2 billion in June, came ahead of new U.S. tariffs in August and the Canadian counter-tariffs that will come into effect next week.
“The July trade figures, while disappointing, are largely a look in the rearview mirror as the trade landscape shifted, again, in the following months,” BMO senior economist Shelly Kaushik wrote in a report.
“The new tariffs likely mean net exports will be a drag on growth in the third quarter. Some
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