Tariffs have severely impacted exports, and Canada's trade deficit in April expanded to a record high.

On June 5, Statistics Canada data showed that Canada's trade deficit widened to a record C$7.1 billion ($5.2 billion) in April as tariffs imposed by the United States drained demand for Canadian goods. While Canada's exports to the rest of the world have grown, they have not been able to compensate for the decline in exports to the United States. Canada's exports to the U.S. fell 15.7 percent, the third consecutive month of decline. Canadian exports to the U.S. have fallen by more than 26 percent since peaking in January. Statistics Canada said total exports plunged 10.8 per cent to $60.4 billion in April, the lowest level in nearly two years and the third consecutive month of decline, the largest decline in five years. In addition to the decline in exports to the United States, lower crude oil prices and a stronger Canadian dollar are also factors in the widening of Canada's trade deficit.