The value of Canada’s trade with the U.S. declined by almost CAD 2 (USD 1.42) billion between the 1st quarter of ’24 & the 1st 3 months of ’26.
A spokesperson for Global Affairs Canada, Rachael Dolan, said that the total trade in goods & services with the U.S. was 0.6%, or CAD 1.9 (USD 1.349) billion lower during the 1st quarter of ’26 when compared with the same period 2 years back of ’24.
Total Canada-U.S. trade in goods & services in the 1st 3 months of ’26 hit CAD 322.8 (USD 229.19) billion. That sum includes CAD 169.6 (USD 120.42) billion in exports besides CAD 153.1 (USD 108.70) billion in imports.
Canadian exports to the U.S. decreased by 1.6%, or CAD (USD 1.99), 2.8 billion. Meanwhile, imports during that quarter increased by 0.6%, or CAD 935 (USD 663.85) million.
Dolan added that precious stones & metals witnessed the largest percentage increase in total bilateral trade over the 2 years, rising by CAD 2.8 (USD 1.99) billion. There was also a 52% increase in two-way trade in cocoa and related products, a 15.5% increase in aircraft trade involving cocoa and related products, a 15.5% increase in aircraft, and a 15.5% increase in aircraft & parts.
On the export side, the biggest gains were also in cocoa and related products, which were up 58.8%. This is besides electronics, which witnessed a 9.2% increase. There was also a 57.9% increase in the export of salts, sulfur, earth, stone, and cement.
The biggest decline in 2-way trade was in motor vehicles & parts. It fell by 18.9%, or CAD 6.7 (USD 4.76) billion.
Dolan further added that other notable declines in total bilateral merchandise trade were in iron & steel. It was down 43.5%. Meantime, mineral fuels besides oils were down 3.3%.
The U.S. is ramping up pressure on Canada ahead of formal talks on the Canada-U.S.-Mexico (CUSMA) agreement on trade. The U.S. President, Donald Trump, has also threatened to slap new tariffs on Canadian goods.
Exports of goods as well as services to the U.S. totaled CAD 709.6 (USD 503.82) billion in ’24, decreasing to CAD 683.3 (USD 485.14) billion a year later in ’25.
Imports totaled CAD 618.3 (USD 438.99) billion in ’24, declining to CAD 604.1 (USD 428.91) billion a year later in ’25.
