21:54:41 EDT Mon 14 Jul 2025
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Bank of Montreal
Symbol BMO
Shares Issued 728,859,458
Close 2025-03-04 C$ 144.18
Market Cap C$ 105,086,956,654
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Globe says BMO's Porter warns economic shock coming

2025-03-05 08:54 ET - In the News

The Globe and Mail reports in its Wednesday edition that Canada is facing a major economic downturn after U.S. President Donald Trump hit his continental neighbours on Tuesday with the largest trade shock in nearly 100 years. The Globe's Mark Rendell and Nojoud Al Mallees write that Mr. Trump's decision to impose 25-per-cent tariffs on imports from Canada and Mexico, with lower 10-per-cent tariffs for energy and critical minerals, shatters decades of North American economic integration. Canada and Mexico will suffer more in the trade war, given their greater reliance on exports compared with the United States, but Mr. Trump's attempt to wrench apart continental supply chains will hammer economic growth, employment and profits in all three countries, while reigniting concerns about inflation. If the U.S. levies are not lifted quickly, the Canadian economy will likely enter a recession in the coming quarters. "It's a very big shock," BMO chief economist Douglas Porter told The Globe. "I don't know that it ranks up there with COVID or the financial crisis of 2008, 2009. But I would rank it probably bigger than the oil price shock we went through in 2015, when oil prices went from about $100 down to $30 pretty quickly."

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