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Thompson/PostmediaCanadian stocks flipped between gains and losses at Monday’s open after the collapse of talks with the United States unleashed what threatens to become a widening trade war, with Prime Minister Mark Carney recalling his negotiators from Washington.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorCanada’s stocks benchmark the S&P/TSX Composite Index whipsawed in early trading Monday and was little changed at 10:01 a.m. in Toronto after falling as much as 0.3 per cent. Declines in industrial and consumer-discretionary stocks were offset by gains in the materials sector as gold miners gained.Shortly after the market opened, U.S. President Donald Trump said Monday that he would raise tariffs on Canadian steel and autos would be subject to a 50 per cent tariff, beginning Jan. 1. That would double the tariff currently on Canadian autos, though steel is already subject to a 50 per cent tariff.Canada's best source for investing news, analysis and insight.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Investor will soon be in your inbox.We encountered an issue signing you up. Please try again“We suspect this will be a bigger hit to the economy than to Canadian stocks,” Hugo Ste-Marie, director of portfolio and quantitative strategy at Scotiabank, wrote in a Monday morning note to clients.“If oil, gold and copper prices remain elevated, they should continue to support the TSX. Canadian banks also report earnings this week, and better-than-expected results could provide another positive catalyst,” he said.Bank of America Corp. economist Carlos Capistran wrote in a Monday note that while the direct GDP impact of the tariffs is likely to be “limited” the “bigger channel is confidence: renewed uncertainty is likely to weigh on investment, and potentially hiring, more than the tariffs themselves.”Stock analysts are watching Canadian and U.S. commodities producers after trade talks between the two countries broke down, including firms like Algoma Steel Group Inc., Linamar Corp. and West Fraser Timber Co.Jacket maker Canada Goose Holdings Inc., for instance, saw its U.S.-listed shares fall Monday morning after Wells Fargo Securities downgraded the company to underweight from overweight and trimmed the price target.—With assistance from Monique Mulima. 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