BNN Bloomberg EN

Tariff-hit industries struggling as trade war drags into second year

From rolled steel to kitchen cabinets, Canadian businesses hit by targeted U.S. tariffs are struggling to respond as the trade war drags into its second year.

Mar 24, 2026 &03552424202631; 14:55 UTC www.bnnbloomberg.ca

Read original on www.bnnbloomberg.ca ↗

↘

Negative for markets

Sentiment score: -35/100

Moderate impact Medium-term (weeks)

WHAT THIS MEANS

Fresh report on Canadian tariff-hit industries struggling in extended U.S. trade war; S&P 500 up 1.15% but VIX elevated at 26.38, signaling underlying market anxiety despite surface gains.

AI CONFIDENCE

62% High

SENTIMENT GAUGE

NEWS POWER SCORE

AFFECTED ASSETS

⇅

S&P 500

^GSPCIndex

High volatility expected

S&P already rallied +1.15% today; conflicting signals (strong equity move vs. elevated VIX 26.38) suggest market uncertainty. Tariff escalation risk not fully priced into volatility premium.

↓

CAD/USD

CAD/USDCurrency

Expected to decline

Canadian exporters (steel, manufacturing) facing sustained tariff pressure; currency weakness likely as trade war drags into year 2 with no resolution in sight.

↓

Oil (WTI Crude)

CL=FCommodity

Expected to decline

Tariff-hit manufacturing slowdown reduces industrial demand; energy sector weakness expected as capex cuts accelerate.

↑

Gold Futures

GC=FCommodity

Expected to rise

Elevated VIX and trade war uncertainty drive safe-haven demand; gold likely to benefit from risk-off sentiment.

PRICE HISTORY

Loading chart...

⚡ SUGGESTED ACTION

Avoid chasing S&P rally; elevated VIX + tariff headwinds suggest downside risk. Consider shorting CAD or tariff-sensitive industrials (materials, manufacturing) on any strength. Gold hedge recommended given uncertainty. [MOVE:1.2%]

KEY SIGNALS

Fresh tariff pain in Canadian exporters (rolled steel, cabinets)Trade war entering year 2 with no resolutionVIX elevated (26.38) despite S&P rally — divergence signals hidden stressMargin compression in tariff-exposed sectors

SECTORS INVOLVED

MaterialsIndustrialsManufacturingSteel & Metals

Analysis generated on Mar 24, 2026 at 11:09 UTC

Disclaimer: This analysis is generated by artificial intelligence for informational purposes only and does not constitute financial advice, investment recommendation, or solicitation. Original reporting by BNN Bloomberg. Always conduct your own research and consult a qualified financial advisor before making investment decisions.

Tariff-hit industries struggling as trade war drags into second year

RELATED INTELLIGENCE