08:35 AM EST, 11/27/2024 (MT Newswires) -- Doman Building Materials Group ( CWXZF ) on Wednesday said its business is not likely to be materially impacted by the proposed 25% tariffs on goods entering the U.S. from Canada.

DBM noted that although no material details were announced in respect of the proposed US Tariffs, the company's businesses in each country generally operate independently. Accordingly, other than any business already subject to Softwood Lumber duties, the company does not currently expect to be impacted materially by the proposed US Tariffs on goods imported to the United States from Canada.

"Given the magnitude of President-elect Trump's proposed tariffs and given our growing presence in Canada and even more so in the US, we want to ensure that all of our stakeholders are well informed that based on expectations today, our business would not be impacted in a material way," said Amar S. Doman, Chairman and CEO. "Given we run two self-sustaining businesses on both sides of the border, with neither relying materially on the other for products, we don't anticipate an impact to our business based on what has been proposed to date."