US steelmakers rise after Trump threatens 50% tariff on steel, autos amid Canada trade spat

Steel Dynamics

24/08/2026 15:30

Updates
** Shares of U.S. steel and aluminum companies rise after U.S. President Donald Trump said in a social media post that tariffs on all Canadian cars, trucks, automotive parts and steel will be increased to 50% starting January 1
** Nucor NUE.N up 4.57%, Cleveland-Cliffs CLF.N up 7.19%, Steel Dynamics STLD.O up 4.95% and Century Alum CENX.O up 4.31%
** The two ​countries ⁠failed to reach a trade deal late on Friday, ​with each side blaming the ​other ⁠as Canada readied tariffs on some U.S. goods in retaliation for 50% levies ⁠ordered ​by Trump on ​other Canadian products
  ** Including session's moves, S&P 500 Steel index .SPLRCSTEEL up about 51.02% YTD



 

 (Reporting by Miraanta Lowrance)