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

Macy’s surprises in first quarter, but cuts profit outlook for tariffs

Macy’s sales and profit slipped in its first quarter and the department store, citing more cautious customers and the impact that a trade war launched by the U.S., trimmed its profit forecast for 2025.

United is narrowing its check-in window for US flights

Stragglers beware: U.S. travelers flying with United Airlines will have to check in to domestic flights a little earlier starting next week.

Why ‘wrench attacks’ on wealthy crypto holders are on the rise

Wrench attacks, where crypto investors are hit with wrenches to give up passwords, are on the rise.

SpaceX launches another Starship rocket but it tumbles out of control

SpaceX has launched its Starship mega rocket again after back-to-back explosions.

Metta World Peace Is Writing The Playbook On Entrepreneurship

One on one with former NBA star Metta World Peace who talks breaking into private equity and continuing his legacy off the court Photo:

Second crypto investor is charged with kidnapping and torturing

A second cryptocurrency investor has surrendered to police in the alleged kidnapping and torture of a man inside an upscale Manhattan townhouse.

Wall Street whips back upward after Trump pauses more tariffs

Wall Street is rallying after President Donald Trump delayed a 50% tariff on goods coming from the European Union.

Salesforce is buying Informatica in deal worth approximately $8 billion

Salesforce is buying AI-powered cloud data management company Informatica in an approximately $8 billion deal.

Homeowners spend on renovations and repairs amid economic uncertainty

U.S. homeowners are boosting spending on home renovation projects, bucking a broader pullback by consumers amid diminished confidence in the economy.

Disney puts Venezuelan workers on leave after Trump strips status

Almost four dozen Venezuelan workers who had temporary protected status have been put on leave by Disney after the U.S. Supreme Court allowed the Trump administration to strip them of legal protections.

Load More