Canada's trade surplus surprisingly widens to over four-year high in August

Canada’s trade surplus widened sharply in August to C$4.2 billion (US$2.94 billion), its highest level in about 19 months, data released Tuesday showed. Reuters economists had expected a far smaller rise to C$1.55 billion from an upwardly revised C$787 million. The jump was driven by exporters rushing to the United States ahead of President Donald Trump’s tariffs, which took effect Aug. 22. Canada’s exports to the U.S. rose 8.1% in August, while imports fell 2.5%. The surplus with the U.S. reached C$11.2 billion and nearly 70% of exports went to the U.S., first time since September 2025.