US steel firms rise after 50% tariff on Canadian goods
24/08/2026 12:13
BUZZ-US steel firms rise after 50% tariff on Canadian goods ** Shares of U.S. steel, aluminum companies rise premarket after U.S imposes 50% tariff on Canadian goods
** Nucor NUE.N up 4.06%, Cleveland-Cliffs CLF.N up 1.39%, Steel Dynamics STLD.O up 4.10% and Century Alum CENX.O up 2.48%
** The U.S. imposed 50% tariffs on selected Canadian goods on Saturday after trade talks between the longtime allies broke down, with both sides blaming each other for the failure to reach a deal
** The tariffs add to strains between U.S. President Donald Trump and Canadian Prime Minister Mark Carney, potentially complicating broader efforts to renew the United States-Mexico-Canada Agreement trade pact
** As of last close, S&P 500 Steel index .SPLRCSTEEL rose about 43.9% YTD
(Reporting by Miraanta Lowrance)
Recent news on Cleveland-Cliffs
See all newsCanada gives Cleveland-Cliffs 15 days to reverse planned job cuts
Brief: Canadian Prime Minister Carney Says Cleveland-Cliffs Must Meets Its Obligations
Canada says it could force Cleveland-Cliffs to sell Ontario steel plant
US STOCKS-Nasdaq climbs as chip and AI-linked stocks bounce back
US STOCKS-Nasdaq climbs as chip and AI-linked stocks bounce back