The Winnipeg-based bus maker said that about two-thirds of its buses for U.S. customers are completely built in the U.S., while the remainder include cross-border manufacturing and are exposed to potential tariffs. However, CEO Paul Soubry said on an earnings call that its MCI brand is the only motor coach producer qualified for certain Buy America contracts, with its buses beginning production in Canada and finishing in the U.S. (The Logic)

Talking point: NFI’s stock climbed as much as 25 per cent Friday as it outlined several protections against potential tariffs, including contracts letting it pass trade costs to customers. It has also relocated some buses to the U.S. ahead of tariffs and will be able to build buses for Canadian customers entirely on this side of the border by the fourth quarter. The news was a relief to investors who have soured on many automakers due to the sector’s reliance on cross-border manufacturing in the face of U.S. President Donald Trump’s tariffs.