Investing.com -- Canada’s merchandise trade deficit widened significantly to $2.2 billion in November as export growth stalled across key industrial sectors. Higher volumes of crude oil and bitumen fueled this gain, recovering from October’s refinery shutdowns in the United States that had previously stifled flow. Imports from the United States tumbled 5.4%, marking their lowest level since early 2022 as American manufacturing output cooled. While the merchandise deficit expanded, the combined balance of goods and services also shifted into a $2.2 billion hole. Related articlesGold and auto slumps drive Canada’s trade deficit to $2.2 billionTrump criticizes Powell again, says U.S. should have lowest rates in the worldFed keeps rates steady as expected, Powell refuses to discuss DoJ investigation