Christopher Liew: How Trump tariffs could affect Canadian stocks and investments
BNN Bloomberg
Personal finance contributor Christopher Liew breaks down how the ongoing Canada–U.S. trade conflict is affecting Canadian stocks, which sectors are most exposed, and what everyday investors can do to protect and position their portfolios.
If you’re a Canadian investor, tariffs have probably dominated your news feed for the past year. Between sweeping duties on steel, aluminum and automobiles, plus threats of even higher levies, it has been difficult to know what it all means for your portfolio.
Below, I’ll break down how the ongoing Canada–U.S. trade conflict is affecting Canadian stocks, which sectors are most exposed, and what everyday investors can do to protect and position their portfolios.
The trade landscape has shifted dramatically since February 2025, when the U.S. first imposed broad 25 per cent tariffs on most Canadian goods under the International Emergency Economic Powers Act (IEEPA).
Since then, sector-specific duties under Section 232 of the U.S. Trade Expansion Act have piled on, targeting steel, aluminum, automobiles, lumber, and furniture. As CTV News recently reported, the list of levies still hitting Canadian industries remains long, even after the U.S. Supreme Court struck down the IEEPA tariffs on February 20, 2026.
That Supreme Court ruling was a watershed moment. In a 6–3 decision, the justices ruled that IEEPA does not authorize the president to impose tariffs. Within hours, U.S. President Donald Trump announced a replacement 10 per cent global tariff under Section 122 of the Trade Act of 1974, effective Feb. 24.
The impact of the Iran war on fuel prices in Canada may encourage more drivers to go electric, some experts say, but others warn the conflict will drive up prices of "pretty much everything."
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
The Trump administration this week stepped up its ambitious effort to replace about US$1.6 trillion in lost tariff revenue that was eliminated by the U.S. Supreme Court’s decision to strike down a range of the president’s import taxes.
The Bank of Canada will be balancing a last-minute flood of economic data with uncertainty around trade and war in the Middle East as it prepares to make its second interest rate decision of 2026 this week.
The Trump administration has expanded its trade investigations to 60 countries, including Canada, in an effort to shore up the president’s tariff policies.
Canada has committed to supplying 23.6 million barrels of oil as part of a larger International Energy Agency plan to help stabilize energy markets as the war in the Middle East continues.
Canada’s energy-heavy index may cushion stocks from oil shocks, but rising crude prices could boost inflation and pressure consumers.
Venture Global will proceed with phase 2 of its CP2 liquefied natural gas project in Louisiana, the company said on Friday.
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
Telus Corp.’s global IT and customer services arm says it’s investigating a breach of its systems.
When Jensen Huang strides onto the stage of a packed hockey arena to kick off Nvidia’s annual developer conference on Monday, he is likely to reveal products and partnerships geared toward keeping the AI chipmaker atop a growing array of competitors.
The current Canada Revenue Agency (CRA) crackdown on Canada’s growing army of gig workers has gone beyond Uber drivers, contractors, consultants, handy-people and freelancers.