Canada's merchandise trade deficit with the rest of the world nearly vanished in June as exports grew dramatically, Statistics Canada reported today.
The trade deficit came in at $476 million...
Exports increased 6.3 per cent to $44.3 billion in June, while imports dropped 0.6 per cent to $45.1 billion. That's the best month-over-month increase in exports since December 2006.
Canada and Mexico are joining forces to try to break a major logjam over Japanese autos at the Trans-Pacific Partnership talks, working to come up with a solution that preserves their respective vehicle assemblers and parts makers should a deal open North America to greater Asian imports.
Since September 11, 2001, it has become more expensive to move goods by truck across the Canada-US border, according to a study released by StatsCan on July 24.
International Trade Minister Ed Fast and Finance Minister Joe Oliver applauded the announcement by Prime Minister Stephen Harper and Israeli Prime Minister Benjamin Netanyahu that negotiations toward an expanded and modernized Canada-Israel Free Trade Agreement (CIFTA) have concluded.
Dozens of countries have agreed to abolish duties on more than 200 technology products — from advanced computer chips to GPS devices, printer cartridges and video-game consoles.
The agreement announced Friday marks the World Trade Organization's first tariff-killing deal in 18 years.
