Canada’s Trade Surplus With U.S. Hits 2-Year High

Canada’s energy exports to the United States surged in the latter part of 2024, helping the country record its biggest surplus with its main trading partner since 2022. Crude oil exports jumped amid a weakening Canadian dollar as well as traders stockpiling inventories ahead of Trump’s tariffs. The trade surplus widened to C$11.3 billion in December, up from C$8.2 billion previously while crude exports to the U.S. jumped 11.8% in the final quarter. Nearly 76% of all exports by Canada went to the U.S. compared to 62% of all imports coming…