凯投宏观：加拿大出口将在2025年剩余时间内保持低位

Core Viewpoint - CIBC Macro believes that Canadian exports have reached a peak of weakness, with a potential for rebound in the coming months, but exports are expected to remain low through the remainder of 2025 unless there is a change in U.S. trade policy [1] Trade Data Summary - In April, nominal export values fell by 10.8%, with a seasonally adjusted decline of 9.1% [1] - Out of 11 industries, 10 experienced record declines in exports, with the automotive and industrial machinery sectors seeing the largest drops [1] Economic Impact - The poor trade data from April poses risks to the expectation of a 0.1% quarter-on-quarter GDP growth for Canada [1]