Questions about tariffs?

The situation around tariffs across North America is dynamic. No one knows how long it will last, and the circumstances may change quickly. Because BMO has been doing business in both Canada and the United States since 1818, we know these economies well and have a proven track record of helping clients like you successfully navigate them.

If you’re banking across borders, here are some practical tips that can help:

BMO has several Foreign Exchange (FX) solutions to help mitigate the risk of currency fluctuations:

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  FX spot products convert foreign currency on an as-needed basis at current market rates.

  
  

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  FX hedging solutions, in the form of forwards and options, help you manage foreign currency risk and reduce earnings volatility due to fluctuations in exchange rates.

  
  

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  Multi-Currency accounts can be used to store your foreign currency

  
  

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  Our Wire Payment service helps you take advantage of competitive FX rates and avoid intermediary bank fees.

Assess the diversity of your supply chain and evaluate how your partners’ changing circumstances may result in cashflow and liquidity impacts to your organization. We have liquidity optimization solutions deployed with many of our clients – ask your BMO representative for details.

Times of uncertainty are also times of opportunity. If you’d like to engage in investment strategy conversations, ask your BMO representative to connect you with a specialist today.

We recommend staying in touch with trade associations and relevant industry groups - they are important sources of support and strong advocates for the industry. We also have several resources to help you:

NextGen Treasury: Managing FX and Rate Risk in the Trump Era

We recently hosted a digital event with BMO Capital Markets experts who analyzed what recent U.S. policy moves could mean for the economy. They also discussed practical solutions for managing interest rate swings, foreign exchange exposure, and trade risks. Access the replay here:

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  Canadian site (EN)

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  U.S. site

BMO’s Economics Group has published several informative articles, including:

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  Trade War Impact: First Pass – (2/2/25) By Douglas Porter, Chief Economist and Managing Director

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  The ‘America First Trade Policy’ Plan - (1/31/25) By Michael Gregory, Deputy Chief Economist and Managing Director

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  Canada’s All-Important Tariff Policy Response - (1/31/25) By Robert Kavcic, Senior Economist and Director

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  Ten Tariff Truths - (1/17/25) By Douglas Porter, Chief Economist and Managing Director

If you have any questions or need assistance, please reach out to your BMO representative - we're here to help.