FX.co ★ Canadian Imports Fall for 3rd Month

Canada witnessed a 1.6% decline in total imports for May 2025, reaching CAD 66.66 billion—the third consecutive monthly decrease and the lowest since November 2024. This decline was predominantly driven by a substantial reduction in metallic and non-metallic mineral products, which plummeted by 16.8%, with raw gold, silver, and platinum group metals facing a steep decrease of 43.2%. Additionally, imports of motor vehicles and parts fell by 5.3%. Trade with the United States experienced a 1.2% decrease, following Canada's announcement in early June to delay further retaliatory measures in response to the United States raising tariffs on Canadian steel and aluminum to 50%.