The Globe and Mail reports in its Friday edition that the value of exports to the United States fell a stunning 15.7 per cent compared with the previous month, Statistics Canada said Thursday. The Globe's Mark Rendell and Nojoud Al Mallees write that the decline was broad-based, led by a sharp pullback in autos, consumer goods and crude oil exports. Imports from the U.S. dropped 10.8 per cent. This contraction in trade follows a barrage of tariffs by U.S. President Donald Trump over the past three months. This includes levies on steel, aluminum and cars, as well as on all goods that do not comply with the continental free-trade agreement's rules of origin. Earlier this week, Mr. Trump doubled tariffs on steel and aluminum to 50 per cent. The drop in exports will weigh on Canada's trade-oriented economy, with the Bank of Montreal forecasting a contraction in the second quarter. Economists widely expect the Bank of Canada will have to respond with rate cuts, despite its decision to hold steady this week. BMO senior economist Shelly Kaushik said that while Thursday's numbers were far worse than analysts expected, the decline in exports was not surprising given the slew of U.S. tariffs that took effect in the spring.