The Canadian Companies Thriving During Trade Tensions

Trade tensions between Canada and the United States are once again creating uncertainty for businesses and investors in 2026. Recent trade negotiations between the two countries stalled after disagreements over tariffs, autos, steel, and broader economic policies, highlighting how fragile cross-border trade relations remain. Concerns around tariffs, supply chain disruptions, and rising costs have continued to pressure several industries linked closely to North American trade.

As geopolitical and global trade uncertainties continue, long-term investors may want to focus on Canadian companies with diversified operations, strong balance sheets, and resilient business models. In this article, I’ll highlight three top Canadian stocks that could continue to thrive despite ongoing trade tensions.

Barrick Mining stock

Barrick Mining (TSX:ABX) has become one of the biggest beneficiaries of global uncertainty in recent years. The Toronto-based mining giant operates gold and copper mines across 17 countries and remains one of the world’s largest precious metals producers.

ABX stock currently trades at $52.76 per share with a market cap of about $88 billion. Over the last year alone, its shares have surged more than 105%, reflecting strong investor demand for gold-related assets during volatile market conditions. Barrick also offers a dividend yield of 4.3%, with quarterly payouts.

One of the biggest strengths behind Barrick’s performance is its focus on high-quality mining assets and disciplined capital allocation. Gold prices tend to strengthen during periods of geopolitical uncertainty and trade tensions as investors seek safer investments, and Barrick has been well-positioned to benefit from that trend.

The company also continues investing in long-term growth projects aimed at expanding both gold and copper production. With copper expected to play a critical role in global electrification and infrastructure development, Barrick’s diversified metals exposure could support future earnings growth.

Imperial Oil stock

Imperial Oil (TSX:IMO) is another Canadian company showing resilience during uncertain economic conditions. The Calgary-based integrated energy company operates across upstream, downstream, and chemical businesses, helping diversify its revenue streams.

Following a 93% rally over the last year, IMO stock currently trades at $177.65 per share with a market cap of roughly $87 billion. Its recent rally could mainly be attributed to Imperial Oil’s strong operational performance and soaring prices of energy products. At the current market price, the company has a dividend yield of about 2%.

In the first quarter of 2026, Imperial Oil reported a net profit of $940 million despite some production volume declines. Strong commodity pricing and efficient operations helped support profitability. Its upstream production averaged 419,000 gross oil-equivalent barrels per day, with major contributions coming from the Kearl and Cold Lake projects.

Meanwhile, the company’s downstream refinery utilization rate remained solid at 88%, even after temporary operational disruptions. Imperial Oil’s integrated business model helps it navigate commodity price fluctuations more effectively than many standalone energy producers.

Imperial also continues focusing on technological improvements and operational efficiency efforts that could strengthen profitability over the long term, which could help its share prices rally further.

Bird Construction stock

Bird Construction (TSX:BDT) may not receive as much attention as large commodity-linked companies, but it has quietly become one of the strongest-performing Canadian infrastructure stocks on the TSX.

After rallying by 127%, the Etobicoke-based construction and maintenance firm’s stock recently closed at $55.10 per share with a market capitalization of around $3.1 billion. It also offers investors a dividend yield of 1.6%, with monthly payments.

Bird’s recent financial growth has been supported by strong demand across infrastructure, industrial, and institutional construction markets. In the fourth quarter of 2025, the company generated construction revenue of $877 million while maintaining a backlog of $5.1 billion alongside a pending backlog exceeding $6 billion.

As Canada continues investing heavily in infrastructure modernization, energy projects, LNG facilities, and nuclear developments, Bird Construction could remain well-positioned for long-term expansion without being much affected by global trade tensions.

The post The Canadian Companies Thriving During Trade Tensions appeared first on The Motley Fool Canada.

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More reading

• 2 Canadian Energy Stocks I’d Buy and Hold Right Now
• 3 Canadian Stocks to Buy Before Trade Talks Shake the Market
• TSX Today: What to Watch for in Stocks on Tuesday, May 5
• The Canadian Stocks I’d Focus on for Growth Potential in 2026
• 3 Canadian Stocks to Buy if Gold Keeps Climbing

Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.