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]

Group 1 - The U.S. Customs and Border Protection has established implementation regulations for vehicles covered under the United States-Mexico-Canada Agreement (USMCA) [1]

Group 1 - The core viewpoint of the article indicates that Daimler's outlook for the fiscal year 2025 is contingent upon the assumption that the company can continue operations under the US-Mexico-Canada Agreement [1]

Group 1 - The core point of the article is that 51% of Mexico's exports are covered by the US-Mexico-Canada Agreement (USMCA), indicating a significant reliance on this trade agreement for export growth [1] - According to the Mexican Finance Minister, exports from Mexico are expected to increase by at least 10% due to the provisions of the USMCA [1]

Group 1 - The core viewpoint expressed by President Trump is that there may be only slight changes in expectations regarding the US-Mexico-Canada Agreement (USMCA) [1]

Core Point - The U.S. Customs and Border Protection has confirmed that North American automotive parts that comply with the USMCA trade rules are exempt from the 25% auto tariff [1] Group 1 - The exemption applies specifically to automotive parts that meet the criteria set forth in the USMCA agreement [1]

Core Viewpoint - Stellantis' Chief Financial Officer stated that approximately 80% of the components in vehicles manufactured in the U.S. comply with the USMCA regulations [1] Group 1 - Stellantis is ensuring compliance with the USMCA by having a significant portion of its vehicle components meet the agreement's standards [1]