Gantry cranes tower above container ships being unloaded and loaded at port, in Vancouver, on February 10, 2022. Photo by THE CANADIAN PRESS/Darryl Dyck

Canada’s current account deficit reached the widest on record in the second quarter as the country’s exports to the U.S. dropped because of the trade dispute.

The shortfall rose to $21.16 billion in the second quarter, Statistics Canada reported Thursday. That’s the largest since at least the early 1980s, and significantly deeper than the $1.32 billion deficit recorded in the first three months of this year, when Canadian exporters benefited from U.S. companies building inventories to get ahead of tariffs.

The current account deficit was only slightly wider than the $19.3 billion expected by economists in a Bloomberg survey, but c

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