Canada is facing mounting economic challenges as its current account deficit reached a record high in the second quarter, driven largely by declining exports to the United States amid ongoing trade tensions. The deficit expansion reflects the impact of tariffs imposed by the Trump administration and a stronger Canadian dollar. In response, Canadian Industry Minister Melanie Joly indicated that Ottawa is considering tougher measures to counteract foreign steel dumping. Despite efforts, including concessions from Bank of Canada Governor Mark Carney, Canada does not expect the Trump administration to remove all tariffs imposed on Canadian goods. The trade dispute continues to weigh on the country's trade balance and economic outlook.