Canadian exports surged 18% on a year earlier to a new high of C$49 billion ($38 billion) in May. That resulted in a trade surplus that was double the level expected by economists. The trade surplus with the U.S. climbed to C$3.5 billion from C$2.3 billion as import growth lagged. The higher surplus may, at first glance, be a concern ahead of NAFTA negotiations which should start in mid-August. However, the expansion is likely due to energy exports which in total jumped 83% on a year earlier. They could easily slow as oil prices stabilize year-on-year. Additionally, growth in forestry pr...