Dofasco steel in Hamilton
Alcoa Aluminum
The markets in Toronto and New York were reeling Thursday after President Trump told supporters he will definitely impose tariffs on steel and aluminum imports to the US. Steel will carry a 25 percent levy and aluminum, ten percent. It is a potential swift kick at Canada’s economy and the market baskets of millions here. At its worst, such tariffs will stagger the economy. But it isn’t clear. Canada is the largest seller of steel and aluminum to the US but there is little flak directed at this country in American rhetoric. Much of the noise is aimed at China, which is a relatively small exporter of steel to the US. The plan is still unknown. In Toronto the TSX was down 48.73 and the Dow plunged 420.22.
