Given the U.S. represents nearly two thirds of company revenue, Bombardier (BBD) could be volatile tomorrow - with Trump threatening to decertify and slap a 50% tariff on all Canadian planes…

… until we certify a handful of Gulfstream models. It wouldn’t be the first time BBD is in Trump’s scope, with its C-Series jets getting hit with a 300% tariff in his first term - and with the stock trading at a premium…

… even headline risk could take some air out of the multiple.