Fresh Tariffs Boost Domestic Steel, Dent Automakers -- WSJ
Dow Jones2026/08/24 16:09By Shradha Dinesh
Trade talks between the U.S. and Canada collapsed in the 11th hour Friday, renewing fears of an all-out trade war as new tariffs went into effect over the weekend.
Ford and Stellantis shares slipped Monday after President Trump announced a 50% tariff on automobiles and auto parts from Canada come January. Ford shares fell about 4% in midday trading, while Stellantis saw a 4.8% decline. General Motors shares were down about 1.7%.
Meanwhile, U.S. steel producers saw modest gains. Cleveland-Cliffs saw the largest move, up 4.8%. Nucor and Steel Dynamics rose about 2%.
Though steel wasn't explicitly named in the initial tariff rollouts, its inclusion in retaliatory lists pushed the U.S. and Canada into the now defunct trade talks. These retaliatory tariffs on steel and aluminum are back on the table.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
August 24, 2026 12:09 ET (16:09 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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