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Canadian Imperial Bank of Commerce (CIBC)
Symbol CM
Shares Issued 942,396,448
Close 2025-02-20 C$ 87.37
Market Cap C$ 82,337,177,662
Recent Sedar Documents

Globe says CIBC's Tal doubts U.S. tariffs will happen

2025-02-21 08:37 ET - In the News

The Globe and Mail asked CIBC deputy chief economist Benjamin Tal what he thought will occur on or before March 4, when tariffs of 25 per cent are set to be imposed on Canadian goods going into the U.S. in its Friday, Feb. 21, edition. The Globe's Jennifer Dowty writes that Mr. Tal said: "I doubt that will happen. I think it would be way too much damage to the U.S. economy, and I think he's using it as a negotiation tool. And if he is going to impose it, if I'm wrong, it will be for a relatively short period of time. We have to ask ourselves the question, 'What is the ultimate goal?' Now, in my opinion, the ultimate goal is uncertainty and the tool is chaos. I don't think it's a coincidence that he continues to postpone things because by postponing things, you keep the uncertainty going without any cost because you are not imposing tariffs. It's not a coincidence that he's talking about 180 days of studying reciprocal tariffs. That's 180 days of not imposing tariffs but talking about it to add to the uncertainty. Again, you get the benefit of the tariff without the cost of the tariff because you are not really imposing the tariff, but people are trying to compromise with you."

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