To recap:

• Canada’s trade balance: The deficit grew nearly fourfold in November compared to October, rising to $2bn. Canada imported more (largely electronics—and particularly cellphones—and cars) and had to sell abroad for cheaper due to falling prices for many of our key exports.
• The U.S.’s trade balance: The U.S. trade deficit also widened (to nearly $49bn, up nearly 16 per cent from October), also largely on the back of strong imports of cars, smartphones and other electronics. Exports inched up by only one per cent, hurt by weak demand from Europe.

What the analysts are saying: Continue…