OTTAWA — The value of Canada’s trade with the U.S. dropped by almost $2 billion between the first quarter of 2024 and the first three months of 2026.
Rachael Dolan, a spokesperson for Global Affairs Canada, says total trade in goods and services with the U.S. was 0.6 per cent, or $1.9 billion, lower in the first quarter of 2026 than in the same period of 2024.
Total Canada-U.S. trade in goods and services in the first three months of 2026 hit $322.8 billion, which includes $169.6 billion in exports and $153.1 billion in imports.
While Canadian exports to the U.S. declined by 1.6 per cent, or $2.8 billion, imports during that quarter increased by 0.6 per cent, or $935 million.
Dolan says precious stones and metals saw the largest percentage increase in total bilateral trade between the two years, rising by $2.8 billion, while the largest decline was in motor vehicles and parts, which fell by 18.9 per cent, or $6.7 billion.
The U.S. is ramping up pressure on Canada ahead of formal talks on CUSMA, the Canada-U.S.-Mexico agreement on trade, and U.S. President Donald Trump has also threatened to slap new tariffs on Canadian goods.
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