The Globe and Mail reports in its Friday edition that Canada swung back to a trade deficit in October as imports grew at a faster pace than exports, though early signs suggest that the country is starting to diversify its trade partners, with a heavy assist from soaring gold prices. A Reuters dispatch to The Globe says Canada imported $66.2-billion worth of goods in October, up 3.4 per cent from September, Statistics Canada said Thursday, while exports rose 2.1 per cent to $65.6-billion. The faster growth in imports pushed the trade balance from a $243-million surplus in September to a $563-million deficit in October. Analysts had been expecting a larger deficit of $1.5-billion. Canadian exports have been on a volatile ride, owing to massive U.S. tariffs that have targeted several key industries, including steel, aluminum, cars and lumber. Exports to the United States fell 4.1 per cent in the first 10 months of 2025, compared with a year earlier. "We continue to believe that the peak negative impacts from tariffs are in the rearview mirror especially as consumers and businesses adopt to the new normal," TD Bank economist Marc Ercolao wrote in a client note. "The path forward is still subject to significant risk."