OTTAWA — Canada posted its largest merchandise trade deficit on record in April at $7.1 billion as exports fell sharply in the face of U.S. President Donald Trump’s tariffs.
Statistics Canada said Thursday the result, which followed a deficit of $2.3 billion in March, came as a plunge in exports to the U.S. more than offset a gain in shipments to other destinations around the world.
Katherine Judge, executive director and senior economist at CIBC Capital Markets, called the numbers “really bad.”
“Essentially trade has totally collapsed,” Judge said in an interview.
“Obviously the U.S. is our biggest trading partner, so it didn’t really matter that trade with
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