Previously, Canadian imports outside the U.S.-Mexico-Canada Agreement (USMCA) faced 25% tariffs, while energy imports were subjected to 10%. Canada is the United States' second-largest trading partner,

Canada's trade deficit in May narrowed after a record-breaking deficit in April as total exports rose and imports fell even as the impact of U.S. tariffs dented shipments south of the border, data showed on Thursday.

The U.S. is one of the largest trading nations in the world. Mexico, China, Canada, Germany, and Japan are its largest sources of goods from overseas.

Canada’s share of exports destined for the U.S. shrank to the smallest proportion since at least 1997, excluding the COVID pandemic. Shipments to other countries reached a new high.

U.S. imports to Manitoba hit roughly $10.97 billion in January through May — an eight per cent increase from the same time in 2024. Meanwhile, imports from China jumped 6.9 per cent year-over-year, totalling $684 million.

Canada’s share of exports destined for the United States shrank to the smallest proportion since at least 1997, excluding the COVID pandemic. Shipments to other countries reached a new high, led by gold exports.

A record surge in gold exports helped lift Canada’s trade numbers in May, but the country’s export share to the United States fell to one of its lowest levels on record—just 68.3 percent—according to Statistics Canada.