Jan. 26 at 8:16 AM
$TSLA Just published a short FRAGMENTS note on Canada’s export concentration.
In 2024, 75.9% of Canada’s exports went to the U.S. And for 65.9% of Canadian exporters, the U.S. was the only market. That’s the file.
This piece is straightforward: when the dominant customer starts talking “conditions,” the cost shows up fast in the real world—margins, cash, and investment decisions.
The only way to reduce that risk is to build real optionality through real routes and real contracts.
HERE:https://cundilldeepvalue.substack.com/p/canadas-single-customer-problem-when
$ET $OKE $WMB $PBA
