A Montreal Economic Institute report says Trump's tariffs of 25%, later raised to 50%, on steel and aluminum have pushed prices up while barely increasing industry jobs. U.S. steel prices have risen 33.9% since February 2025 and aluminum prices 58%, versus only 1% and 26% in Canada. Over the 19 months, U.S. steel output rose 7.6% and employment 0.7%, while aluminum output fell 0.1%. Lead author Joseph Steinberg says consumers and industries that buy metals have paid the price, while the U.S. government and domestic producers are the only winners. A New Jersey importer has also sued over the 50% tariffs on Canadian goods, after some earlier tariff tranches were ruled illegal by U.S. courts.
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| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/21/2026 | 773.09 |
| Change that session | +0.53% |
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