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

Canada’s share of exports destined for the US shrank to the smallest proportion since at least 1997, excluding the Covid pandemic, while shipments to other countries reached a new high.

Canada's merchandise trade deficit narrowed to $5.9 billion in May, according to data from Statistics Canada, after hitting a record high in April. Add some “good” to your morning and evening. Your weekly look at what’s happening in the worlds of economics,

President Donald Trump said he is not considering delaying his July 9 deadline for higher tariffs to resume and renewed his threat to cut off talks and impose duty rates on several nations, including Japan.

In return, Vietnam will face a 20 percent tariff on all its imports, plus a 40 percent tariff “on any transshipping.” That refers to a charge for goods made in another country

An analysis finds a critical group of U.S. employers would face a direct cost of $82.3 billion from Trump’s current tariff plans.