Jun. 20 at 10:20 AM
$CLF $MT $NUE $STLD $X
Canada imposes steel, aluminum tariffs to curb imports, FT reports
Canada's Prime Minister Mark Carney plans to impose measures to counter the oversupply of steel and aluminum imports and may increase tariffs on the U.S., The Financial Times' Ilya Gridneff reports.
Carney says Canada will "adjust" its 25% counter-tariffs on imports of the two metals from the U.S., based on how talks with Washington had progressed by July 21, adding that Canada will also apply new tariffs on any increase beyond 2024 levels in steel imports from countries that do not have a free trade agreement with Canada.
Publicly traded companies in the space include ArcelorMittal (MT), Cleveland-Cliffs (CLF), Nucor (NUE), Steel Dynamics (STLD) and U.S. Steel (X).
