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Bank of Montreal
Symbol BMO
Shares Issued 722,070,767
Close 2025-06-19 C$ 144.27
Market Cap C$ 104,173,149,555
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Globe says BMO's Guatieri sees Canada taking tariff hit

2025-06-20 07:43 ET - In the News

The Globe and Mail reports in its Friday edition that as U.S. President Donald Trump hammers his country's two closest trading partners with tariffs, the blows are landing much harder on Canada than Mexico. The Globe's Jason Kirby writes that the number of commercial trucks entering the U.S. from Canada fell 10.5 per cent in May from the year before, according to new data on border traffic released by U.S. Customs and Border Protection. That was roughly in line with the 11.4-per-cent annual drop in Canada-to-U.S. truck traffic in April, when Mr. Trump's first tariffs on imports from Canada and Mexico came into effect. By comparison, the number of U.S.-bound trucks from Mexico declined by a more modest 2.8 per cent last month, which was a smaller annual decline than the 6.4-per-cent drop in April. A similar pattern has played out in trade flows. In April, U.S. imports from Canada fell 14.4 per cent from the same month in 2024, compared with a 2.7-per-cent decline in imports from Mexico. The pain imbalance likely comes down to the different mix in goods flowing into the United States from the two countries, specifically Canada's dominance of U.S. steel and aluminum imports, said Bank of Montreal economist Sal Guatieri.

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