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Canadian Imperial Bank of Commerce (CIBC)
Symbol CM
Shares Issued 942,396,448
Close 2025-01-22 C$ 91.54
Market Cap C$ 86,266,970,850
Recent Sedar Documents

Globe says CIBC, rivals hear tariffs a risky business

2025-01-23 07:28 ET - In the News

Also In the News (C-BMO) Bank of Montreal
Also In the News (C-BNS) Bank of Nova Scotia
Also In the News (C-NA) National Bank of Canada
Also In the News (C-RY) Royal Bank of Canada
Also In the News (C-TD) Toronto-Dominion Bank

The Globe and Mail reports in its Thursday edition that President Donald Trump has shown no inclination to water down his America First agenda, despite the obvious risks of overreaching and turning voters against him. The Globe's Konrad Yakabuski writes that the extent to which Mr. Trump will attempt to rebalance the global trading system to benefit U.S. interests is highly debated. Analysts note that his top economic appointees generally agree on using tariffs to pressure other countries into changing their trade and defence policies, but they also recognize the potential risks of relying heavily on tariffs. Mr. Trump's picks for Treasury, Scott Bessent, and Commerce, Howard Lutnick, advocate pro-tariff ideas that most economists view as unorthodox. Their proposals could lead to an unprecedented financial experiment with the potential to destabilize the global economy. They seem to view tariffs as a temporary negotiating tool rather than a permanent solution for U.S. trade deficits. Steve Verheul, Canada's former chief trade negotiator, has stated that if Canada does not retaliate, it will not know the true price Mr. Trump is aiming for. It is evident that Trump 2.0 will compel Canada to face tougher choices than before.

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