Q: Good Morning Peter, Ryan, Chris, and Team:
First off and maybe you have already answered this question previously but how do you think this "Tariff War" might play out after the bluff and bluster has completely settled down ?
Also, how do you think that across the board tariffs would effect PSI, NTR, and SIS in the short and medium term ??
Thank you so much. DL
First off and maybe you have already answered this question previously but how do you think this "Tariff War" might play out after the bluff and bluster has completely settled down ?
Also, how do you think that across the board tariffs would effect PSI, NTR, and SIS in the short and medium term ??
Thank you so much. DL
5i Research Answer:
Ultimately, we think we get some tariffs put in place, perhaps in the 10% range. It may be typical politics: threaten 25% and then people are 'happy' at 10%. The majority of NTR's sales are in the US. SIS has some products that may be exempt. Most of PSI business is Canadian. Overall, we would not expect a huge impact (from that already embedded). We would be surprised if fertilizer was tariffed.