What new tariff walls in U.S.-Canada trade war mean for the economy's critical metals

Trucks traverse the Ambassador Bridge, a main trade route linking Canada and the United States in Windsor, Ontario, Canada July 5, 2020.Carlos Osorio | ReutersAs the U.S. and Canada stare down tens of billions of dollars in dueling tariff regimes as a result of President Trump's new trade war against the nation's second-biggest trading partner, companies, economists, and investors are back in the game of attempting to forecast the level of volatility to expect on corporate balance sheets and in stock prices. The U.S. government's 50% tariffs on a wide range of Canadian goods were met with Canada's $20 billion in retaliatory tariffs slated to go into effect on Sept. 8. They encompass more than 700 U.S. goods, meant to mirror the size of Trump's import taxes on Canadian wine, cement, hockey sticks and more. The counter-tariffs, which range from 15% to 50%, target a wide array of U.S. imports into Canada, including dairy, seafood, appliances, wood and paper products, and clothes.There were some real-time market winners as the new trade war dominated headlines last Monday. Consider the reaction in steel and materials stocks, including Nucor, Steel Dynamics, Cleveland-Cliffs and Century...