Introduction

U.S. tariffs and President Trump's insults have Canadians fighting back with the rallying cry "Elbows UP!", a phrase that originates with hockey great Gordie Howe.

NHL / @joanne_paulson on X / Via x.com

Howe was known for his toughness using his elbows to defend himself when opposing players crowded him and Canada "Elbows UP!" is being used as a rallying cry - an expression of Canadian patriotism - to stand up against the United States' tariffs.

Canadians Boycotting American Made Grocery Products

Canadian supermarket chains are putting maple leaf tags on shelves and highlighting local items, while shoppers are either forgoing their preferred products or boycotting U.S.-made products entirely to support domestic companies. According to a survey by Spring Financial 80% of Canadians are making a conscious effort to buy more Canadian-made products with many shoppers saying they don’t mind buying products made in Canada by American companies because they still feel they’re supporting Canadian jobs and the domestic economy.

The 8 largest consumer packaged goods (grocery) companies in the U.S. are: Campbell Soup (CPB); General Mills (GIS); McCormick (MKC); Kraft Heinz (KHC); Tyson (TSN); Kellanova (K); Hormel (HRL); and JM Smucker (SJM).

Canadians Also Boycotting American Beer, Wine and Spirits 

Canada was the largest importer of American alcohol - from a total of 35 states - in the world until Trump imposed his 25% tariff on Canadian imports, but not any more! In retaliation to the tariff, Canada’s 10 provinces have removed all U.S. alcohol products from their store shelves (3,600 products in total) and have stated they would not be restocking their shelves, or replenishing their inventories in their provincially-operated stores, until the U.S. withdraws its tariffs.

The 4 largest American liquor exporters to Canada are: Anheuser-Busch InBev (BUD); Constellation Brands (STZ); Brown-Forman (BF-B); and Molson-Coors (TAP).

Conclusion: What Affect Are the Canadian Boycotts Having On the 12 American Stocks?

The Canadian boycotts are being done as an expression of national pride and are NOT intended to necessarily adversely affect the stock prices of the companies mentioned above and, indeed, that is the case with the price of the stocks of the 12 American companies only down 1%, on average, since the end of February.

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