With the clock ticking toward possible U.S. tariffs of up to 50% on many Canadian exports from autos to hockey sticks, customs and trade compliance stocks are suddenly in the spotlight. Investors are watching where cross border friction might create extra demand for specialist services or fresh pressure on certain business models. This article walks through 3 stocks exposed to this news so you can judge where the risk and potential opportunity sit.

The stocks in the article below are just a starting sample, and the full screen surfaced 69 more North American customs and trade-compliance companies with equally compelling narratives that are not covered here. To go broader and identify your own highest conviction tariff and duty recovery ideas, head straight into the North American customs, trade-compliance and tariff-refund service providers screener.

SPS Commerce (SPSC)

Overview: SPS Commerce runs a cloud platform that connects retailers, brands, distributors, manufacturers and logistics providers so order, shipment and invoice data can flow automatically, including for cross border transactions where documentation and compliance are critical. Its Fulfillment and Analytics products sit in the middle of that digital paperwork, helping trading partners manage orders, revenue recovery and sell through data with far less manual effort.

Operations: SPS Commerce generates about US$772 million in revenue from supply chain management solutions, with roughly US$641 million coming from the U.S. and around US$131 million from customers outside the U.S.

Market Cap: US$2.9b

SPS Commerce gives you exposure to the plumbing of retail trade at a time when tariff headlines are forcing retailers and suppliers to rethink how they handle customs and compliance data. Most traffic on its network still relates to domestic flows. Even so, its EDI and onboarding tools are already embedded in processes that touch cross border documentation, supplier diversification and duty sensitive shipments. That creates a mix of potential demand for more automation if tariffs add friction, and risk from customers scrutinising invoices and delaying projects to save cash. With recurring software revenue, AI driven efficiency projects and active buybacks all in play, the story for SPS Commerce is more nuanced than a simple tariff winner or loser.

SPS Commerce’s recurring revenue and cross border workflows could be masking a deeper story about how tariffs reshape its role in retail plumbing. Get the full context in the analysis report for SPS Commerce

Build your own SPS Commerce style tariff and trade workflow shortlist

SPS Commerce and the two other stocks in this list surfaced from the same Simply Wall St screener, and you can run the same kind of search yourself. Use our flexible Screener to mix filters like valuation, balance sheet strength and risks, or jump straight into our curated Investing Ideas for ready made shortlists.

Descartes Systems Group (TSX:DSG)

Overview: Descartes Systems Group provides logistics software that handles customs filings, trade compliance checks and cross border documentation for carriers, freight forwarders, customs brokers and importers or exporters, helping them route, track and bill shipments while keeping up with changing tariff and regulatory rules.

Operations: Descartes Systems Group generates about US$753.9 million from logistics technology solutions, most of it from the United States at US$517.9 million, with additional contributions from Europe, the Middle East and Africa at US$172.5 million, Canada at US$42.9 million and Asia Pacific at US$20.6 million.

Market Cap: CA$9.2b

For investors focused on customs and tariff workflows, Descartes Systems Group is one of the clearest pure plays in this screener. It sits directly in the software stack that importers, exporters and brokers rely on when rules change overnight. Its recurring logistics and compliance tools, including newer AI products like Free Trade Intelligence, aim to help customers manage higher documentation loads and search for duty savings as tariff regimes shift. At the same time, the stock carries a premium P/E and depends heavily on acquisitions, so execution and integration risk matter, especially if trade policy or freight volumes stay choppy. For anyone following the latest U.S. and Canada tariff headlines, Descartes offers a concentrated way to study how software tied to customs and trade compliance can respond to that complexity.

Descartes’ premium P/E and recurring customs workflows suggest growth expectations many investors may not have fully priced in. Before tariff headlines shift again, read the fuller story in the analysis report for Descartes Systems Group

Xometry (XMTR)

Overview: Xometry runs an AI powered manufacturing marketplace that helps buyers source custom parts and assemblies from a global network of suppliers, with instant quotes that factor in process, materials and location. That same platform, including Thomasnet and tools like Workcenter and Teamspace, can play into cross border parts flows where tariffs and customs affect total landed cost, even though trade compliance is not a dedicated product focus.

Operations: Xometry generates about US$807.5 million in revenue from internet software and services, with roughly US$677.2 million from the U.S. and US$130.4 million from international customers.

Market Cap: US$5.5b

Investors looking at customs and tariff themes may view Xometry as an indirect way to gain exposure to shifting supply chains rather than a pure trade compliance stock. Its AI driven marketplace and quoting engine already account for tariff changes and sourcing geographies, and recent earnings report strong revenue growth and improving adjusted EBITDA as larger enterprises use the platform to rebalance domestic and offshore production. At the same time, Xometry is still unprofitable on GAAP metrics, relies on external borrowing, and has seen insider selling alongside a relatively new management team. This combination may increase execution risk as the company scales globally. For investors who expect tariffs to continue influencing manufacturers’ sourcing decisions, the broader Xometry narrative may merit closer examination.

Accelerating tariff driven sourcing shifts put Xometry’s AI marketplace in a curious spot: bigger contracts and global reach on one side, funding needs and execution risk on the other. See how the full analyst forecasts for Xometry could tilt that balance

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.