3 Stocks To Watch As Trade Rules Lift Demand For Customs Software

Trade friction between the US and Canada, higher oil and a more hawkish Federal Reserve are reshaping how money moves through global supply chains. Investors who ignore that shift risk missing where capital and pricing power could concentrate next. This article breaks down three North American trade, logistics and customs stocks with direct exposure to these headlines so you can decide which stories deserve a closer look on your watchlist.

The stocks covered below are only a sample of the opportunity set, with the full screen surfacing 72 more North American trade, logistics and customs services companies that share similarly compelling business stories. To identify and analyze the highest conviction ideas across this broader universe, head straight to the North American Trade-Logistics and Customs Services screener.

Black Diamond Group (TSX:BDI)

Overview: Black Diamond Group rents modular buildings and workforce accommodation across Canada, the United States and Australia, supporting remote projects and logistics hubs tied to cross border trade.

Operations: Black Diamond Group generates about CA$287 million from Workforce Solutions and CA$221 million from Modular Space Solutions, primarily across Canada, the United States and Australia.

Market Cap: CA$1.2 billion

For this North American trade and logistics theme, Black Diamond Group matters because its modular assets and workforce lodgings sit close to the projects and freight corridors reshaping how goods move. Current contract trends may help indicate where pricing power could concentrate next.

"Black Diamond is seeing a significant increase in future contracted rental revenue (up 9% year-over-year) and a pipeline of projects supported by major infrastructure and resource development initiatives, particularly in Canada. These are expected to drive both higher asset utilization and rental rates beginning late 2025 into 2026, supporting future revenue and earnings performance.

The real swing factor for Black Diamond Group is how one less visible pressure on its cost base and balance sheet ultimately flows through to margins.

That cost pressure is exactly where the opportunity could be hiding, and the full narrative for Black Diamond Group examines how those contract dynamics and balance sheet choices might be quietly reshaping Black Diamond Group's upside profile.

Vertex (VERX)

Overview: Vertex provides enterprise tax software and services that automate indirect tax, e-invoicing, and compliance for retailers, wholesalers, manufacturers, and cross border transactions.

Operations: Vertex generates about US$787 million from software and programming, with roughly US$701 million from the United States and US$86 million from other regions.

Market Cap: US$2.2b

Vertex matters to this trade and customs theme because its tax engines sit in the transaction flow, handling indirect tax on cross border orders where rules are shifting fast.

"Significant near-term acceleration is expected as regulatory mandates for e-invoicing begin in major European economies like France and Germany in 2026-2027. This would force multinational enterprises to adopt advanced tax automation solutions, which is seen as a dynamic that could drive robust new customer wins and recurring revenue expansion for Vertex."

The real question for Vertex is how one unresolved pressure on its balance sheet shapes the payoff from that potential surge in demand.

That balance sheet tension is exactly what the full narrative for Vertex unpacks, separating accelerating demand from the risks that could quietly cap Vertex's upside story.

Descartes Systems Group (TSX:DSG)

Overview: Descartes Systems Group provides global logistics software that helps freight forwarders, customs brokers and cross border shippers manage customs, compliance and shipment flows.

Operations: Descartes Systems Group generates about US$753.9 million from logistics technology solutions, with roughly US$517.9 million from the United States and US$215.0 million from Canada, Europe, the Middle East, Africa and Asia Pacific combined.

Market Cap: CA$9.3 billion

When trade rules between the US and Canada keep shifting, Descartes Systems Group becomes a critical plumbing layer for keeping cross border freight moving and paperwork accurate, which is exactly why it sits so close to the center of this trade, logistics and customs screen.

"Heightened global trade complexity and rapid regulatory changes, including new tariffs, elimination of de minimis import exceptions in the US, and shifting international trade agreements, are associated with sustained demand for Descartes' advanced global trade intelligence, customs, and compliance platforms."

What really matters for Descartes Systems Group now is how one quiet shift in customer behavior feeds through to pricing power and long term margins.

That shift in behavior is exactly what the full narrative for Descartes Systems Group unpacks, highlighting where pricing power could be accelerating and which risks may be quietly fading.

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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.

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