✎ Contributed by Ty Griffin
The United States and Canada continued negotiations as a deadline approached for 50% tariffs on approximately $20 billion of Canadian imports. The duties are scheduled to take effect at 12:01 a.m. ET on Saturday unless officials finalize an agreement to stabilize trade between the two countries.
Existing tariffs on Canadian steel, aluminum and lumber reportedly remain central to the negotiations, while lower duties on automobiles may also be under consideration. President Donald Trump has additionally suggested that a final agreement could revive the proposed Keystone XL oil pipeline between Alberta and Nebraska.
Market Reaction
- General Motors Co. (NYSE: GM): $87.89, up $1.73 (2.01%)
- Ford Motor Co. (NYSE: F): $14.45, up $0.44 (3.18%)
- Cleveland-Cliffs Inc. (NYSE: CLF): $11.54, up $0.81 (7.50%)
- Weyerhaeuser Co. (NYSE: WY): $24.59, down $0.05 (0.18%)
- TC Energy Corp. (NYSE: TRP): $61.88, down $1.15 (1.82%)
Investor Sentiment
Gains among automakers and steel producers indicate optimism that a final agreement could reduce uncertainty while preserving some protections for U.S. manufacturers. Cleveland-Cliffs’ sharp advance suggests investors remain attentive to any outcome affecting North American steel flows and domestic pricing.
The declines in Weyerhaeuser and TC Energy reflect continued uncertainty surrounding lumber duties and the potential revival of Keystone XL. Investors will closely monitor the final terms, implementation timeline and sector-specific concessions to determine how the agreement could affect cross-border supply chains, production costs and capital investment.
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