PrintRBC Previews This Week's Merchandise Trade Data in Canada
BY MT Newswires | ECONOMIC | 01/26/26 10:50 AM EST10:50 AM EST, 01/26/2026 (MT Newswires) -- November's international trade balance for Canada on Thursday will be closely watched for implications on Q4 2025 gross domestic product growth, said RBC.
Net trade is currently tracking a significant boost to Canaian GDP growth in Q4, noted the bank.
United States customs duties fell consecutively in November and December, coinciding with an expanded list of products exempted from U.S. tariffs since mid-November, pointed out RBC.
The impact on Canada will be marginal, as the new exemptions overlap with pre-existing CUSMA protections that already position Canada among the lowest tariff rates among major U.S. trading partners, stated the bank.
RBC estimates Canada's international merchandise trade deficit in November to expand to $700 million from the $600 million in October.
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