Canada Fires Back At Trump: Up to 50% Tariffs on $20 Billion of US Goods
Canada hit back at Trump with tariffs of up to 50% on $20B of U.S. goods, escalating the trade war ahead of Sept. 8.
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Alcoa shares are trading higher. Argus Research maintained its Buy rating and lowered its price target from $73 to $55 following a White House announcement earlier this week that developers of U.S. smelting capacity will receive a tariff cut to 25% on imported aluminum feedstock.
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Read original at benzingaShares of aluminum-related companies are trading higher as investors expect that the U.S. and Canada will fail to reach a trade agreement ahead of Saturday's deadline. The inability to reach an agreement could expose Canada to a 50% tariff on several key exports, which may benefit U.S.-based producers.
Read original at benzingaShares of steel and aluminum-related companies are trading lower amid expectations for progress on a U.S.-Canada trade agreement before the weekend. A trade framework may lessen investor interest in finished metals producers that would have benefitted from domestic U.S. production under continued tariffs.
Read original at benzinga