{"id":847432,"date":"2026-08-05T21:42:09","date_gmt":"2026-08-05T21:42:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/847432\/"},"modified":"2026-08-05T21:42:09","modified_gmt":"2026-08-05T21:42:09","slug":"canada-u-s-trade-drops-almost-2-billion-since-early-2024-data-show","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/847432\/","title":{"rendered":"Canada-U.S. trade drops almost $2-billion since early 2024, data show"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

The U.S. is ramping up pressure on Canada ahead of formal talks on USMCA.Adrian Wyld\/The Canadian Press<\/p>\n

The value of Canada\u2019s trade with the U.S.<\/a> dropped by almost $2-billion between the first quarter of 2024 and the first three months of 2026.<\/p>\n

Rachael Dolan, a spokesperson for Global Affairs Canada, said total trade in goods and services with the U.S. was 0.6 per cent \u2014 or $1.9-billion \u2014 lower in the first quarter of 2026 than in the same period of 2024.<\/p>\n

Total Canada-U.S. trade in goods and services in the first three months of 2026 hit $322.8-billion. That sum includes $169.6-billion in exports and $153.1-billion in imports.<\/p>\n

While Canadian exports to the U.S. declined by 1.6 per cent, or $2.8-billion, imports during that quarter increased by 0.6 per cent, or $935-million.<\/p>\n

Dolan said precious stones and metals saw the largest percentage increase in total bilateral trade over the two years, rising by $2.8-billion. There was also a 52 per cent increase in two-way trade in cocoa and related products and a 15.5 per cent increase in aircraft and parts.<\/p>\n

Opinion: The dairy sector is lobbying hard in USMCA talks. The government didn\u2019t want you to know<\/a><\/p>\n

On the export side, the largest gains were also in cocoa and related products, up 58.8 per cent, as well as electronics \u2014 which saw a 9.2 per cent increase \u2014 and salts, sulphur, earth, stone and cement, which went up 57.9 per cent.<\/p>\n

The largest decline in two-way trade was in motor vehicles and parts, which fell by 18.9 per cent, or $6.7-billion.<\/p>\n

Dolan said other notable declines in total bilateral merchandise trade were in iron and steel, which was down 43.5 per cent, and mineral fuels and oils, which was down 3.3 per cent.<\/p>\n

The U.S. is ramping up pressure on Canada ahead of formal talks on CUSMA, the Canada-U.S.-Mexico agreement on trade, and U.S. President Donald Trump has also threatened to slap new tariffs on Canadian goods.<\/p>\n

The new round of 50 per cent tariffs on a range of Canadian goods is set to take effect on Aug. 19. Unlike most of Trump\u2019s other tariffs, these tariffs would have no exemptions for goods compliant under CUSMA.<\/p>\n

United States Trade Representative Jamieson Greer has said the tariffs are a response to provincial bans on U.S. liquor, Canada\u2019s supply managed dairy system and quotas on certain U.S. vehicles.<\/p>\n

Speaking to reporters at a housing announcement in Toronto on Wednesday, Carney said Canada is \u201cin the middle of negotiations\u201d with the U.S. When asked about the likelihood of Canada fending off the tariffs, the prime minister said: \u201cWe\u2019ll see.\u201d<\/p>\n

Carney said Canada-U.S. Trade Minister Dominic LeBlanc, Canada\u2019s Chief Trade Negotiator Janice Charette and Canadian Ambassador to the United States Mark Wiseman are taking part in \u201ca series of meetings\u201d in Washington this week.<\/p>\n

LeBlanc and Charette had a meeting with the National Association of Manufacturers\u2019 president and CEO Jay Timmons on Tuesday afternoon.<\/p>\n

They both had meetings with Republican Senators Kevin Cramer and Bill Hagerty on Wednesday.<\/p>\n

Exports of goods and services to the U.S. totalled $709.6-billion in 2024 and $683.3-billion in 2025. Imports totalled $618.3-billion in 2024 and $604.1-billion in 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: The U.S. is ramping up pressure on Canada ahead of formal talks on…\n","protected":false},"author":2,"featured_media":847433,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[901,888,902,879,877,903,45,49,48,876,895,896,891,878,875,46,549,295,894,887,914,880,881,893,889,890,884,904,885,909,910,912,907,911,905,908,882,898,899,714,897,906,865,61,900,892,886,883,913],"class_list":["post-847432","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-alberta","tag-arts-news","tag-bc","tag-breaking-news","tag-breaking-news-video","tag-british-columbia","tag-business","tag-ca","tag-canada","tag-canada-news","tag-canada-sports","tag-canada-sports-news","tag-canada-trafficcanada-weather","tag-canadian-breaking-news","tag-canadian-news","tag-economy","tag-education","tag-environment","tag-federal-government","tag-foreign-news","tag-globe-and-mail","tag-globe-and-mail-breaking-news","tag-globe-and-mail-canada-news","tag-government","tag-life-news","tag-lifestyle","tag-local-news","tag-manitoba","tag-national-news","tag-new-brunswick","tag-newfoundland-and-labrador","tag-northwest-territories","tag-nova-scotia","tag-nunavut","tag-ontario","tag-pei","tag-photos","tag-political-news","tag-political-opinion","tag-politics","tag-politics-news","tag-quebec","tag-sports-news","tag-technology","tag-travel","tag-trudeau","tag-us-news","tag-world-news","tag-yukon"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/847432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=847432"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/847432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/847433"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=847432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=847432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=847432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}