Canada’s trade activity growth was an anemic 0.9% year over year in November following the Canadian Pacific rail strike. Exports to the U.S. generated an expansion with a 3.6% increase driven by a 59.7% surge in refined oil products including jet kerosene and heavy fuel oil. The need to ensure continued export growth provides another reason for Parliament to approve the U.S.-Mexico-Canada Agreement when it returns in late January. Exports to the EU rose 18.0% – possibly buoyed by the CETA trade deal – while political hostilities with China led to a continued 19.2% slide. Nonetheless, Can...