06:55 AM EDT, 07/10/2025 (MT Newswires) -- Tariffs by the United States on Canadian copper add another

potential layer to those already in place for steel and

aluminum, although the impact is lighter, said Bank of Montreal (BMO).

Total Canadian exports of copper to the U.S. ran at $5.7 billion in the 12 months through May, or roughly 0.2% of gross domestic product, noted the bank.

That adds onto $34 billion of steel and aluminum exports, for a combined 1.3% of GDP.

Regionally, Quebec remains in the crosshairs, accounting for

most of Canada's U.S. copper shipments, pointed out BMO. That would leave combined metal exports exposed to high tariffs north of 3% of GDP, or twice the next closest province.

British Columbia is also a major copper producer, but most of those exports go to Asia, added the bank.

Bigger picture, even if a copper tariff would be relatively

contained, it would be another shot that impacts business

confidence more broadly, stated BMO.