Trump Tariff Revival: 2 Bets to Help Your TFSA Ride Out the Storm

U.S. President Donald Trump has revived U.S.-Canada trade tensions with a message that caught markets off guard. His recent warning of a potential 100% tariff on Canadian goods raised fresh concerns about trade stability.

Given Canada’s export dependence on the U.S., this uncertainty could quickly spill over into stock prices. That’s one of the key reasons why Tax-Free Savings Account (TFSA) investors may want to focus on businesses that rely less on cross-border trade noise. In this article, I’ll highlight two safe Canadian stocks that could help your TFSA portfolio handle this storm.

Capital Power stock

As tariff risk rises, businesses tied to essential services and long-term contracts like Capital Power (TSX:CPX) start to look even more attractive. If you don’t know it already, the company generates electricity across North America with a growing focus on flexible generation and battery storage. After gaining 9.7% over the last year, CPX stock recently traded near $58 per share, with a market cap of about $9.1 billion. At this market price, it also offers an annualized dividend yield of 4.7%.

In the third quarter of 2025, Capital Power’s financials clearly reflected the underlying strength of its business model. Despite the ongoing macroeconomic uncertainties, the company’s quarterly adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) stood at $477 million. Similarly, its adjusted funds from operations for the quarter were at $369 million, supported by steady plant availability and contract-backed revenue. Interestingly, a new long-term contract for Midland Cogeneration Venture is likely to boost Capital Power’s cash flows through 2040 with improved pricing.

Recently, the company also commissioned 170 megawatts of Ontario battery storage, contracted through 2047, which gives it decades of financial visibility. Overall, with predictable cash flows and essential infrastructure, Capital Power could be a great stock for TFSA investors seeking stability during trade uncertainty.

goeasy stock

It’s very common to see tariff stress trickling down to consumers, which makes stable, credit-focused businesses like goeasy (TSX:GSY) worth considering for TFSA investors. This Mississauga-based firm provides non-prime consumer lending across Canada.

Although GSY stock has seen a decline over the last year, it mainly reflects macro and credit concerns rather than weak demand for its services. As a result, the stock now trades at $129.85 per share with a market cap of roughly $2.1 billion. At this price, it has an annualized dividend yield of 4.5%.

In the third quarter of 2025, goeasy delivered a 13% YoY (year-over-year) increase in its loan originations to $946 million, pushing up its loan portfolio by 24% to $5.4 billion. In the latest quarter, the company’s revenue reached a record $440 million with the help of strong application volumes across lending products.

While the provisions for credit losses rose due to early-stage delinquencies, its net charge-off rate improved to 8.9%. More importantly, goeasy continues to expand secured lending and fund growth through diversified financing. For TFSA investors, this combination of attractive dividends, scale, and long-term demand makes GSY stock really attractive, especially at current levels.

The post Trump Tariff Revival: 2 Bets to Help Your TFSA Ride Out the Storm appeared first on The Motley Fool Canada.

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More reading

• 3 Stocks That Could Turn a $100,000 Portfolio Into $1 Million Sooner Than You Think
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Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool recommends Capital Power. The Motley Fool has a disclosure policy.