The TSX Composite Index dipped in December 2024 and March 2025 because of the uncertainty around Trump tariffs. The April 2nd tariffs created a significant sell-off in global stock markets as the United States imposed tariffs on all trade partners. The baseline tariff is 10%, and it goes as high as 50% for some countries.
Investors can still make money in this chaos by investing in growth stocks unaffected by the tariffs. Their secular growth trend remains intact and could ride the recovery rally.
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Three growth stocks to buy and hold for a decade
If you have $3,000 in your Tax-Free Savings Account (TFSA), you could consider buying three growth stocks that could benefit from the tariffs.
Topicus.com
Topicus.com (TSXV: TOI) stock is moving in the opposite direction than the market. It has surged 25% since December 12, 2024, while the TSX Composite Index fell by more than 8%. What is pushing this stock upwards is the certainty in the uncertain market. Topicus.com acquires and manages vertical-specific software companies in Europe that cater to specialized, mission-critical, and high-impact industries. Topicus.com business ensures regular cash flow even in uncertain times.
The dip in the overall market creates an opportunity for Topicus.com to acquire companies at a discount and accelerate its growth rate. In 2024, its revenue grew 15%, slower than 2022 and 2023 revenue growth of 23.4% and 22.7%, respectively. The revenue growth slowed as the stock market recovered in 2024, reducing discounts on acquisition deals. 2025 could help Topicus.com replicate the 2022-2023 growth with good acquisition deals.
Descartes Systems stock
While Topicus.com is swimming against the tide, Descartes Systems (TSX: DSG) is underperforming the market. The supply chain management solutions provider is at the centre of the trade tariffs. After all, the company helps smooth the transit of goods, services, information, and people. Descartes stock fell 21.7% since February, when the first tariff was announced. The stock could see more dips as countries worldwide implement reciprocal tariffs.
However, this trade complexity brings opportunities for Descartes’s Global Trade Intelligence solutions. This tariff war could see a shift in the global supply chain as companies look for alternative trade partners. In the medium term, the stock could recover as demand for its solutions picks up. Buying the dip could create an opportunity to ride the recovery rally.
goeasy stock
goeasy (TSX: GSY) stock dipped almost 25% since January 24 as tariff vows increased fears of a recession. Now that tariffs are implemented, inflation could surge and affect consumer spending. However, the Bank of Canada reduced interest rates to 2.75% in March, and the government enforced a new legislation capping maximum interest rates at 35%, effective January 1, 2025.
Lowering the maximum allowable interest rates and rising inflation could see an increase in loan turnover. Hence, goeasy increased its 2025 guidance for loan receivables by $100 million to $5.4-$5.7 billion. As the maximum interest rates reduce, the lender expects its yield on the loan portfolio to reduce to 31-32.5% from the previous guidance of 31.25-33.25%.
goeasy’s interest proceeds determine dividends, and the rising loan turnover drives the share price. The stock is trading at its 52-week low, creating an opportunity to lock in a 4% yield. As its operations are domestic, there is no direct impact of tariffs, and its secular growth trend of more lending opportunities remains intact.
Investor takeaway
The above three stocks have robust balance sheets and strong profits, which can help them sustain a temporary slowdown in demand. Their long-term demand drivers could boost recovery.
You can identify more such growth stocks by staying updated with the market opportunities.
