Canada’s export patterns have evolved amid efforts to diversify trade partners. Despite the decline in flows to the U.S., CUSMA continues to cover most U.S.-bound goods exports, providing duty free access. Meanwhile, product categories covered by industry-specific Section 232 tariffs, like steel and aluminium, are feeling the strain with significantly decreased flows. Looking beyond the U.S., we’ve seen a heavy rotation towards commodities and precious metals. The changing composition of exports has benefitted commodity producing provinces, adding a regional element to the trade outlook. Through November, Canada’s ... (full story)