Exporters Navigate Shifting Sand
Weaker global demand combined with U.S. trade policy uncertainty will continue to cloud the outlook for Canada’s export sector in the near term. Merchandise imports will be largely driven by domestic demand and movements in business inventories.
Will rising inflation down south and the growing American dissent against U.S. tariffs put some pressure on the Trump administration to renegotiate CUSMA? With the U.S. mid-term elections upcoming in November, will a trade deal be worked out by the end of the year that will see tariffs being lifted or reduced on some industries? Will an increase in energy exports this year help Canada’s total exports of goods and services? And what is anticipated to prop up import growth in 2026?
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