Canadian Bank of Montreal (BMO) has listed the steel industry in its list of high-risk industries and also tightened some steel-related industries' lending requirement.

BMO adjusted its policy for individuals operating in industries affected by tariffs, including steel and aluminum. Besides, it reduced the customers' allowable total debt service (TDS) ratio from 44% to 42%, which decreases the maximum mortgage amount they could get. 

BMO is the first Canadian bank to take such a move in response to the trade conflict, while more changes may be on the way.