Sales of vehicles made in Canada plunged by nearly 23 percent in April after President Trump imposed a 25 percent auto tariff.

It was a third straight trade deficit for Canada, and a much bigger shortfall than the C$1.5 billion economists expected.

Canada's trade deficit in April widened to an all-time high of a whopping C$7.1 billion ($5.2 billion), data showed on Thursday, as tariffs imposed by President Donald Trump sucked out demand for Canadian goods from the United States.

Trade-sensitive businesses are telling the Bank of Canada that they’re broadly less worried about their “worst-case tariff scenarios” coming true compared to earlier in the year, a senior central bank official said Thursday (June 5).

Canadian firms and industry associations affected by trade tensions are less worried about a worst-case scenario involving U.S. tariffs but are set to raise prices, the Bank of Canada said on Thursday.