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Morningstar reports that Trump plans a 25% tariff on Canadian imports effective February 1, and that Nutrien and Mosaic shares fell on the news. The US buys most of its potash from Canada, which accounts for over 90% of US potash imports.
A tariff on Canadian potash would likely raise US potash prices, though higher costs could reduce application and weigh on demand over time.
morningstar.comSeth Goldstein, CFA, Piotr Swat/SOPA Images via GettyJan 31, 2025Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
