Global Markets: Canada’s trade deficit grows

By Commodity News Service Canada

July 6 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– Canada’s merchandise trade deficit reached C$1.1 billion in May, up from C$552 million in April. Canada’s trade activity has been strong recently, with imports and exports reaching record highs for a total trade value of C$98.5 billion in May, a 13.8 per cent increase in the same month last year.

– United States President Donald Trump said today the U.S. would confront North Korea “very strongly”. Speaking at a news conference in Warsaw, Poland, Trump said he was considering “severe things” for North Korea, following North Korea’s test of an intercontinental ballistic missile on Tuesday.

– Leading up to tomorrow’s G20 meeting in Hamburg, Germany, Russian President Vladimir Putin called for open trade relations and standards to stimulate global economic growth. In a guest article published in German business news source Handelsblatt, Putin also referred to the use of economic sanctions as protectionism.

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