Canadian exports plunged by the most in nearly 17 years outside of the pandemic, widening the country’s merchandise trade deficit to the largest on record.

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

China and the U.S. have agreed to more tariff talks amid a trade standoff and concerns over rare earths, President Donald Trump said Thursday after a call with China's leader. Trump and Chinese leader Xi Jinping spoke on Thursday at a time when stalled tariff negotiations between their two countries have roiled global trade.