Trump tariffs live updates: Trump doubles tariffs on Canadian steel, aluminum as Ontario retaliates
Published On Mar 11, 2025, 10:25 AM
President Trump's recent trade policy changes, including increased tariffs on steel and aluminum imports, primarily from Canada, as well as a broader trade conflict with China and the EU, are causing uncertainty in the U.S. economy. Trump's tariffs have raised prices for goods, heightened inflation concerns, and could influence Federal Reserve decisions on interest rates. Economists are worried that these changes will slow economic growth, as indicated by Goldman Sachs lowering its GDP growth forecasts. U.S. manufacturers are facing higher material costs due to tariffs, which may lead to higher prices for consumers.
Stock Forecasts
CAT
Negative
As tariffs drive up costs for manufacturers and create economic uncertainty, companies heavily reliant on imports for materials may struggle. Thus, firms like Caterpillar Inc. (CAT) and Newell Brands (NWL), which depend on imported materials, may see negative impacts on their stock prices due to rising costs and potential decreased consumer spending.
X
Positive
Conversely, domestic producers of steel and aluminum, such as U.S. Steel Corporation (X), may benefit from increased tariffs that limit foreign competition, potentially leading to higher stock prices as demand for domestic products increases.
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