U.S. president-elect Donald Trump recently warned Canada of steep tariffs on all goods entering the United States, raising concerns about the potential economic fallout for many TSX-listed Canadian businesses. In a fiery statement on Truth Social, Trump revealed his intentions to impose a 25% tariff on all products from Canada and Mexico starting January 20, 2025, as one of his first executive actions. While the political implications are still unfolding, this warning has reignited fears of trade tensions, threatening to disrupt cross-border commerce and impact several sectors.
To protect your portfolio from any potential volatility, now could be the right time for Foolish investors to focus on resilient and fundamentally strong TSX stocks that can weather economic uncertainty and trade-related headwinds. In this article, I’ll highlight two Canadian stocks that can continue to thrive even under difficult Canada-U.S. trade circumstances. Even though their yields aren’t the most generous on the TSX, these stocks still reward their investors with dependable quarterly dividend payments.
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goeasy stock
goeasy (TSX:GSY) is the first stock that might not face any major turbulence even if cross-border trade tensions escalate. It primarily focuses on providing financial services to people who may not qualify for traditional bank loans. It operates through its easyhome and easyfinancial segments, offering everything from unsecured loans to home equity loans and automotive financing. This business model makes it an essential lifeline for customers who need access to credit but are underserved by traditional banks.
This Mississauga-headquartered company currently has a market cap of $2.9 billion as its stock trades at $171.70 per share after climbing by nearly 9% year to date. At this market price, it offers a 2.7% annualized dividend yield.
goeasy’s growth trajectory is underpinned by its ability to adapt to market needs while maintaining strong financial discipline. Notably, the company has achieved 93 consecutive quarters of positive net income, reflecting its resilience through economic cycles. With its expanding loan portfolio and a history of dividend increases, goeasy remains a safe choice for investors who want to protect their portfolios from any potential trade-related volatility.
Metro stock
The Montréal-based Metro (TSX:MRU) is another strong stock for navigating U.S. tariffs-related uncertainty. Metro mainly operates within Canada, which makes it largely insulated from cross-border trade disruptions. It focuses on grocery and pharmacy retail segments, offering essential goods and services that remain in demand irrespective of temporary economic slowdowns.
After rallying by 35% year to date, MRU stock currently trades at $92.42 per share with a market cap of $20.5 billion. It offers a yield of 1.4% at this market price, but the company has raised its dividend per share by roughly 68% in the five years ended in September 2024, making it attractive for long-term income-focused investors.
In the latest quarter that ended in September, Metro’s strong same-store sales growth in both food and pharmacy segments reflected the ongoing strength of its core operations, despite some challenges like inflation and labour disputes. With its expanding share buyback program and consistent operational efficiency, Metro continues to be one of the most dependable TSX stocks in uncertain times.
