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  5. SHOP: No one knows what Trump will finally do with tariffs. [Shopify Inc. Class A Subordinate Voting Shares]

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Q: No one knows what Trump will finally do with tariffs. Assuming he goes ahead with some, what impact might it have on SHOP? Can you provide assessments on differing levels of tariffs?
Asked on January 21, 2025
5i Research Answer:
As a service provider, SHOP is not likely to be directly impacted by tariffs. But its merchants...
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