Trump tariffs live updates: Ontario says it will suspend US electric surcharge Trump doubles tariffs on Canadian steel, aluminum

With the projected increase in tariffs and potential effects on inflation, companies reliant on imports may face increased costs, impacting profits. However, specific U.S. steel manufacturers are likely to benefit from the tariffs due to reduced competition from imports.

As consumer spending declines due to rising prices from tariffs, companies in consumer goods and industrial sectors, particularly those reliant on imported materials, could see a downturn. Companies such as Newell Brands may experience broad impacts on pricing and demand.

The aerospace industry is likely to be negatively impacted by tariff-induced cost increases leading to reduced outlooks from major carriers, which could affect airline stocks negatively.

Given the potential for reduced spending and the economic uncertainty due to tariffs, major retailers could face headwinds, particularly as prices increase for imported goods.