US tariffs on key Canadian goods and weakening global demand triggered a sharp pullback in exports in the second quarter of 2025, according to new data released by Statistics Canada. Exports dropped 7.5% in Q2 after the US implemented tariffs on key Canadian goods like steel, aluminum, automobiles and other goods not compliant with the Canada-United States-Mexico Agreement. “This was the largest quarterly decline since 2009, excluding the COVID-19 pandemic period,” according to the report released Monday. The slump extended to manufacturing, wholesaling and employment, all of which posted declines or stalled growth. …The report states businesses which engage in cross-border trade with the U.S. are looking for mitigation strategies to deal with the tariff caused disruptions. …The report also states there was no net employment growth from February to August this year.