Company: ENBSF
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000950170-25-101102
Chunk: 0

Company: ENBRIDGE INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 1A
Chunk 0
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In addition to the other information set forth in this report, careful consideration should be given to the factors discussed in Part I. Item 1A. Risk Factors of our annual report on Form 10-K for the year ended December 31, 2024, which could materially affect our financial condition or future results. There have been no material modifications to those risk factors, other than as set forth below. 

The effects of US, Canadian and other governments' policies on tariffs and trade relations remain uncertain and could significantly adversely impact our business, operations or financial results.

The announcement and imposition of tariffs by the US, together with potential, announced or implemented retaliatory tariffs by other governments on imports from the US, and other potential measures, including duties, fees, economic sanctions or other trade measures, as well as the potential impacts of these tariffs and trade measures, present significant risks to our business operations and financial results. Tariffs announced by the US (which are in addition to any pre-existing tariffs) include, among others:

•March 4, 2025: 25% tariff on Canadian goods exports and 10% on certain Canadian energy exports that are non-compliant under the United States-Mexico-Canada Agreement (USMCA); 

•March 12, 2025: 25% tariff on Canadian steel and aluminum products; 

•April 2, 2025: 10% tariff on product imports from almost all countries and individualized higher tariffs on imports from dozens of countries;

•June 4, 2025: tariffs on Canadian steel and aluminum products were increased to 50%; and

•July 31, 2025: 35% tariff on most Canadian goods exports, effective August 1, 2025, that are non-compliant under USMCA.