0937 ET - Canada's industrial sector will likely take the brunt of the U.S. trade tariffs, TD Cowen's Brian Morrison says. In a report, the analyst notes that in particular, Canada' auto suppliers such as Magna International, Linamar and Martinrea will be dragged through the coals, "due to a large proportion of its manufacturing in Canada/Mexico with the U.S. being the end-market for consumption." BRP is also a name he thinks will suffer due to its powersports segment. While the financial impact will be difficult to assess, Morrison says "tariff exposure for each company is material... and will likely magnify production curtailment near-term that is taking hold to balance inventory at auto/powersports dealers." (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
February 03, 2025 09:37 ET (14:37 GMT)
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