Canada’s international trade activity fell 1.8% year over year in June, the first decline since Sept. 2017 after exports slipped 0.9%. That in turn was due to an 11.2% slump in exports of metals despite the end of bilateral tariffs with the United States. When added to the results from seven other countries there was a 3.4% year over year drop in total exports from the Americas in June and a 0.6% slip for 2Q as a whole. Given 23 out of 27 countries that have reported June data have shown a drop in exports, the global trade downturn appears both well established and widespread.