The Financial Post reports in its Thursday edition that Canada's month-over-month trade surplus with the United States widened to $12.3-billion in September from $12.1-billion, with exports slightly increasing after the implementation of Section 338 tariffs in late August. The Post's Paula Tran writes that exports to the U.S. rose 0.7 per cent in September, mainly due to higher shipments of unwrought gold and crude oil, according to Statistics Canada. Imports from the U.S. increased 0.4 per cent due to higher shipments of processing units. The U.S. tariffs were implemented in late August after trade talks between Canada and the U.S. fell apart due to last-minute demands that Prime Minister Mark Carney said were "uneconomic, unfair and undermined the net benefits to Canada." The levies targeted $27.6-billion worth of Canadian goods, including auto, dairy and alcohol. "Until there is greater policy clarity from the U.S. administration, trade uncertainty will continue to weigh on business confidence, investment, and hiring, posing downside risks to near-term Canadian growth," wrote TD Econimics' Marc Ercolao in a note Wednesday. Meanwhile, Canada reported the largest total trade surplus in four years, at $5.4-billion.
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