US-Canada tariff fight ripples through metals and auto supply chains
What's next: Canada's $20 billion in retaliatory tariffs on more than 700 US goods is set to start Sept. 8.
A renewed US-Canada tariff fight is sending fresh uncertainty through metals, manufacturing and auto supply chains on both sides of the border. President Donald Trump imposed 50% tariffs on a broad range of Canadian goods after trade talks with Prime Minister Mark Carney broke down. Canada responded with retaliatory tariffs worth $20 billion, covering more than 700 US products, with rates ranging from 15% to 50%. Steel and materials stocks initially rose, including Nucor, Steel Dynamics, Cleveland-Cliffs and Century Aluminum, before giving back much of those gains later in the week. Analysts said the deeply integrated auto sector is especially exposed because parts often cross the border multiple times during production.