Will Auto Stocks Crash & Burn Due to Trump's Steel & Aluminum Tariff?

News of Trump's planned tariffs on steel and aluminum sent auto stocks sliding. Patrick Sanders, Assistant Managing Editor for Investing at U.S. News & World Report, was with us to give us his outlook for the sector. Sanders said investors aren't overreacting because it isn't clear what will happen. Investors are being smart by being cautious, he added. Sanders is not surprised to see shares of automakers trading lower, because their costs will spike with the new tariffs. Sanders breaks down winners and losers of the tariff. He stressed that Bank of America already downgraded U.S. Steel. Eventually the tariff will hurt steel stocks and it would be a mistake to assume they will go up, he said.

More In Business

US Open Returns to NYC: USTA Chair Talks Tennis, Novak, & Alcaraz

The US Open kicks off in NYC, and USTA Chairman Dr. Brian Hainline discusses tennis’s growth, Djokovic's worries about pickleball, and the sport's future.

Big Business This Week: How Will Harris and Trump Handle Business?

Learn what the two nominees are promising for the economy. Plus: Paramount nepo battles, Boeing turbulence, and job numbers.

This Croissant Is So Good, It Has A 20,000-Person Waitlist

Hero Bread's viral low-carb, keto-friendly croissant, backed by celebrity investors like Tom Brady and Kevin Durant, is revolutionizing healthy eating.

Powell's Jackson Hole Speech: Fed's Next Moves & Market Impact

Fed Chair Jerome Powell's Jackson Hole speech on Friday is expected to align with market expectations of upcoming rate cuts, likely beginning in September.

Have You Ever Wanted To Move Abroad? Here's What You Need To Know

Expatsi co-founders discuss what you need to know if you want to move out of the U.S. and why they wanted to start this kind of business. Watch!

New Surveys Show Signs of Optimism Among Small Business Owners

Surveys show small business owners overall are feeling positive about their business and achieving the goals they set for this year despite inflation.

Big Business This Week: Is Google Too Big to Jail?

A look at the post-antitrust possibilities for the tech giant. Plus, Elon's weird week, Starbucks' switcheroo, and the latest in snack stocks.

Disney Argues Wrongful Death Suit Should Be Tossed Over Disney+ Trial

Disney is asking a Florida court to dismiss a lawsuit because the plaintiff signed up for a one-month trial of Disney+ in 2019.

A-List Athletes To Take NYC By Storm At Fanatics Fest

Find out how you can interact with the likes of Tom Brady, the Manning Brothers, Derek Jeter & Jay-Z all under the same roof. Watch!

Steve Ballmer’s PSA Series Tackles Election Misinformation & AI

The former Microsoft CEO launched "Just the Facts" with USAFacts to provide clear, factual information on key issues, like health, the economy, and immigration.

Load More