Canada and US Trade Report for June 2026

This document is a report detailing the trade dynamics between Canada and the United States for June 2026. It outlines the performance of Canadian exports and imports, highlighting a record increase in exports, primarily driven by a significant rise in gold exports, which saw a 28% month-over-month increase. The report notes that while total imports increased slightly, there was a notable decline in energy product exports due to lower prices. It also discusses the impact of U.S. sectoral tariffs on Canadian exports, particularly in steel, aluminum, and forestry sectors, which have experienced substantial decreases. Furthermore, the report examines the shifting share of Canadian exports going to the U.S., which has decreased over recent years, while exports to non-U.S. markets, especially Europe, have grown. The document also addresses the implications of U.S. tariffs on inflation and trade negotiations, indicating potential volatility in future trade relations.