U.S. manufacturers remain heavily dependent on Canadian aluminum, which supplied 60% of U.S. unwrought aluminum imports in the first half of 2026.

When the U.S.-Canada trade war erupted, the market repriced metals and materials stocks and ETFs, but longer-term investors should be wary.

US-Canada trade war escalates with new tariffs on metals. Gold hitting $10,000 by December priced at 2.9% YES.