Canada’s international merchandise trade activity fell 0.4% year over year in September as the consequence of a 0.5% reduction in exports. While shipments to the U.S. increased modestly, there was a 5.3% slump in exports to the rest of the world. Trade with China was the main culprit. Exports fell 26.4% due to lower agricultural and energy shipments, which a newly announced resumption of meat exports will only partly address. When added to data for the U.S., Mexico and South America there was a 2.4% year over year slide in exports from the Americas in September. That would suggest the U....