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Canadian Imperial Bank of Commerce (CIBC)
Symbol CM
Shares Issued 912,845,429
Close 2026-10-06 C$ 158.65
Market Cap C$ 144,822,927,311
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FP says CIBC's Judge sees trade surplus with U.S. spike

2026-10-07 09:22 ET - In the News

The Financial Post reports in its Wednesday edition that Canada's trade surplus with the United States grew to $11.2-billion in August from $6.1-billion in July, the largest positive monthly change since 1997, as exports surged ahead of the implementation of Section 338 levies. The Post's Paula Tran writes that exports to the U.S. jumped 8.1 per cent in August while imports were down 2.5 per cent, according to Statistics Canada data released Tuesday. President Donald Trump's announcement on July 22 may have influenced trade patterns and prompted American customers to stock up to avoid additional costs. The Section 338 tariffs targeted $27.6-billion worth in Canadian goods including auto, dairy and alcohol. Many items previously exempt from the Section 232 tariffs under the Canada-U.S.-Mexico Agreement, such as plastics, furniture and electronics, were also now subject to 50-per-cent levies. The surge in exports might be temporary. "With the spike in exports tied heavily to U.S. tariff front-running, and some possible counter tariff front-running expected in imports in September, Canada's trade position is likely to deteriorate and exports will remain under pressure in Q4," wrote CIBC senior economist Katherine Judge.

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