09:53 AM EDT, 09/02/2025 (MT Newswires) -- Shares in Hammond Power Solutions Inc. (HPS-A.TO) were at last look Tuesday modestly lower as the company determined that the recently expanded U.S. tariffs on steel and aluminum derivative products apply to certain materials and components included in many of the company's products.

The company in a statement said it expects these tariffs to have a "relatively uniform impact across its industry" and added it will work collaboratively with its customers and suppliers to manage and offset the effect of these additional costs. Although there may be short-term implications arising from these changes, at this time, the company does not anticipate that the tariffs will have a material impact on its business.

"While this change in trade policy brings complexity and cost to the industry, we have confidence in our adaptable team and in our strong relationships with our customers and suppliers to navigate these challenges effectively," said CEO Adrian Thomas. "We remain focused on executing our long-term strategy, which includes the continued growth of our market share in in the United States and select global markets."

The company said it will continue to monitor tariff-related developments closely.

Price: 117.04, Change: -1.28, Percent Change: -1.08