Canada’s trade activity improved for a seventh month, by 4%, in April vs. a year earlier. Import growth has continued to outpace exports despite the latter growing at their fastest (3%) since June 2017. The big challenge currently for Canadian trade is political. The trade surplus with the U.S. reached its highest in a year at C$3.6 billion ($3 billion) and may overshadow ongoing NAFTA negotiations alongside the current section 232 metals-and-retaliation spat. Yet, the Canadian government may be in no mood to compromise, particularly in the automotive sector where exports have now fal...