Trump threatens 50% tariffs on Canadian autos, steel in 2027
President Donald Trump says tariffs on all cars, trucks, automotive parts and steel will rise to 50% on January First, 2027, pressuring industrial and auto supply chains.
S. equities split down the middle at the start of a week loaded with catalysts, as an unwind in memory and optical-component stocks dragged the Nasdaq 100 lower. ” The order landed just days after reports that Washington and Ottawa were closing in on a deal to halve the existing 50% levy on Canadian steel and aluminum — a whiplash that has left investors repricing North American industrial supply chains with almost no notice. The second front is Tehran.
Treasury Secretary Scott Bessent is due to speak on Iran Monday afternoon to unveil what the administration has billed as an economic blockade. Treasuries offered modest relief. 22%. Rate expectations are the week’s live wire.
Fed Chair Kevin Warsh speaks at Jackson Hole on Friday. S. equity markets by midday Monday, the damage was concentrated rather than broad, with two-thirds of S&P 500 sectors higher even as the index itself drifted lower. 34, a gain of roughly 182 points.
54. 85. 2% advance over the past month as investors hedged Wednesday’s inflation print and Friday’s Jackson Hole address. 2% for the session.
1%. 3%. 8%. 5%.
Memory Unwinds While Defensives Do The Heavy Lifting The day’s real laggards were in memory and storage. 9%, Micron Technology Inc. 5%. The trigger was overnight in Seoul, where Samsung Electronics fell 9% after a record shareholder-return plan fell short of expectations.
Marvell Technology Inc. 9%, Advanced Micro Devices Inc. 2%. 2%.
5%, with XLE tracking crude lower. 5% gain and the Health Care Select Sector SPDR Fund (NYSE: XLV ) was roughly flat. S. 5% as cheaper jet fuel offset the risk-off tone.
4% despite bullion’s advance — GDX is still up more than 38% month-to-date. Applied Optoelectronics Inc. 9 million and a 140% jump in data center sales. AST SpaceMobile Inc.
8% as space names sold off across the board with investors pricing execution risk against the White House’s 1,000-launch-by-2030 memo. Tempus AI Inc. 5 billion Personalis acquisition. MongoDB Inc.
5%. On the upside, crypto-linked equities led. Bitmine Immersion Technologies Inc. 9%, extending last week’s move as Bitcoin held near $79,700 after a 22% weekly surge — its best five-day run since March 2024 — driven by Bessent’s expanded Treasury buyback program and a White House push for the CLARITY Act.
Etsy Inc. 73 consensus alongside a $2 billion buyback. Cleveland-Cliffs Inc. 4%, the most direct beneficiary of Trump’s 50% tariff order on Canadian steel and vehicles, and a continuation of Friday’s 7% pop on a $1 billion investment at its Middletown Works plant in Ohio.
The mirror image played out in autos, where Ford