Tidewater Renewables up after Canadian border agency initiates trade remedy investigation

Shares of renewable fuel company Tidewater Renewables LCFS.TO rise 13.7% to $2.16

Company says Canada Border Services Agency has formally initiated a countervailing (anti-subsidy) and anti-dumping duty investigation into imports of renewable diesel from the U.S.

Adds that the investigation follows a complaint filed by LCFS at the end of 2024

Management anticipates provisional duties to be imposed at the Canada-U.S. border within 90 days

Company says neither the complaint nor the investigation is related to the ongoing trade wars between the U.S. and Canada as the complaint was filed prior to President Trump taking office and the imposition of tariffs by each country

"Any countervailing (anti-subsidy) and anti-dumping duties imposed in connection with the investigation would apply in addition to any tariffs imposed by Canada in response to trade actions taken by the U.S." - Tidewater Renewables

Including session's move, stock up 166.7% YTD