Podcast: Trump, Tariffs, and Trade Agreements
What’s next for U.S.-Canada trade? In this episode, ETF and Alternatives Strategist Bipan Rai, and your host, Erika Toth, break down the current and potential implications of reciprocal tariffs and explore key data points to watch. They also share their outlook for the months ahead and portfolio positioning for U.S. and Canadian assets.
Erika Toth is Director, Institutional & Advisory, Eastern Canada at BMO Global Asset Management (BMO GAM). She is joined on the podcast by Bipan Rai, Head of ETF Strategy, Exchange Traded Funds at BMO GAM. The episode was recorded live on Wednesday, August 6, 2025.
Funds mentioned:
- BMO Equal Weight Industrials Index ETF (Ticker: ZIN)
- BMO Canadian Bank Income Index ETF (Ticker: ZBI)
- BMO Short Corporate Bond Index ETF (Ticker: ZCS)
- BMO US Aggregate Bond Index ETF (Ticker: ZUAG)
- BMO Short-Term US Treasury Bond Index ETF (Ticker: ZTS)
- BMO AAA CLO ETF (Ticker: ZAAA)
- BMO Covered Call Technology ETF (Ticker: ZWT)
USMCA: The United States-Mexico-Canada Agreement
Disclaimers:
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This podcast is for information purposes. The viewpoints expressed by the speakers represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.
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CLOs are floating- or fixed-rate debt securities issued in different tranches, with varying degrees of risk, by trusts or other special purpose vehicles (“CLO Issuers”) and backed by an underlying portfolio consisting primarily of below investment grade corporate loans. The BMO ETF pursues its investment objective by investing, under normal circumstances, at least 85% of its net assets in CLOs that, at the time of purchase, are rated AAA or the equivalent by a nationally recognized statistical rating organization.
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