Stocks · News reference
Shares of steel-related companies are trading higher after President Trump said in a social media post that tariffs on cars, trucks, automotive parts and steel from Canada will be increased to 50% from January 1, 2027. Steelmakers with U.S. production facilities may benefit from the protectionist import duties.
Reference Details
Connected Markets
Poisar stores the source's headline, summary and market tags for reference. Reporting and full article text remain with the original publisher.
- Source
- benzinga
- Observed
- Checked
- Cadence
- Captured once, then retained as an archive reference
- Status
- fresh
Keep reading
Related Headlines
Wells Fargo Upgrades Cleveland-Cliffs to Overweight, Raises Price Target to $14
Wells Fargo analyst Timna Tanners upgrades Cleveland-Cliffs (NYSE:CLF) from Equal-Weight to Overweight and raises the price target from $12 to $14.
President Trump Says If We Don't Make Steel Ourselves, We Can't Defend Ourselves
https://www.youtube.com/watch?v=TmNee1tFImc
Microsoft To Rally Over 23%? Here Are 10 Top Analyst Forecasts For Monday
Analysts raised targets for INSP, SECZ, CLF and WAT, while cutting targets for CRDO, CL and TTMI; ratings remained unchanged.
Shares of U.S.-traded companies with Brazil exposure are trading higher after the first round of Presidential election balloting showed right-wing candidate Flavio Bolsonaro with a lead over Lula, the current left-wing President. The results may indicate a possible pro-business final election outcome ahead of the October 25 run-off vote, wherein the winning candidate must achieve a majority above 50%.
Shares of steel-related companies are trading lower after the Trump administration released details for a $15 billion steelmaking complex in Iowa that's slated to produce 7.5 million tons per year from 2030, with possible expansion of up to 10 million tons annually. Investors may be concerned about overcapacity in U.S. steel production.