08:23 AM EST, 02/11/2025 (MT Newswires) -- With steel and aluminum tariffs now in focus with United States tariffs, Bank of Montreal (BMO) provided some details for Canada.

Total steel and aluminum exports to the U.S. were C$35 billion in the past year, or roughly 1% of gross domestic product.

Tariff coverage might vary, as in 2018, noted the bank. During that episode, Statistic Canada reported that tariffs covered C$16.7 billion versus total category exports of around C$25 billion.

At any rate, BMO drilled further and looked at where steel and

aluminum U.S. export exposure is greatest across the country and, no surprise, that was Quebec and Ontario.

Quebec exported roughly $C14 billion of such product to the U.S.

in the past year -- mostly aluminum -- or just under 2.5% of

GDP. Ontario's slightly larger dollar amount weighed in at just under 1.5% of GDP -- mostly steel.

The direct exposure across the rest of Canada is less pronounced, added the bank.