FX.co ★ Canadian Imports Drop for 1st Time in 6 Months

In March 2025, Canada's total imports saw a month-over-month decline of 1.5%, reaching CAD 70.4 billion. This marks the first decrease since September 2024, following five consecutive months of growth. The primary factors contributing to this downturn were significant reductions in imports of metal and non-metallic mineral products, which fell by 15.8%, and energy products, which decreased by 18.8%. Additionally, imports from the United States dropped by 2.9%, following Canada's implementation of retaliatory tariffs. These tariffs were a response to the 25% tariff imposed by US President Trump on Canadian steel and aluminum, which came into effect on March 12.