Trade War Pushes Canada’s Current Account Deficit to Record
A boat sails past a container terminal on Vancouver Harbour in British Columbia.
Photographer: James MacDonald/BloombergCanada’s current account deficit reached the widest on record in the second quarter as the country’s exports to the US dropped because of the trade dispute.
The shortfall rose to C$21.16 billion ($15.4 billion) in the second quarter, Statistics Canada reported Thursday. That’s the largest since at least the early 1980s, and significantly deeper than the C$1.32 billion deficit recorded in the first three months of this year, when Canadian exporters benefited from US companies building inventories to get ahead of tariffs.