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Investing.com -- Amid the growing trade dispute between the U.S. and Canada, Cascades, a Canadian packaging and tissue products company, has decided to withhold its short-term guidance.
The company’s Chief Executive, Hugues Simon, announced this on Thursday, stating that the company will refrain from sharing short-term projections until there is more clarity on the tariff situation between the two countries.
Simon highlighted that about 11% of the company’s annual sales come from finished products produced in Canada and sold to U.S. customers. However, when considering cross-border inter-company transfers and raw material sourcing, this potential annual exposure to tariffs could increase to about 15% of revenues.
In response to the potential impact of tariffs, the company has begun taking proactive steps. These include altering raw material sourcing strategies, reallocating production to reduce inter-country shipping, and adapting commercial strategies with both customers and suppliers.
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