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.
This report by The Canadian Press was first published Aug. 6, 2026.
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