Canada expands US tariff exemptions, cuts some aluminium relief
Published . Updated .
Key takeaways
- Prime Minister Mark Carney’s government is changing the rules for importers, allowing them to apply for exemptions from Canadian tariffs on a wider range of US goods while ending relief on some American-made aluminium products.
- Exposed: PICK, XME, XLI, EWC, CAT
- Market reaction: price tracking starts with the next trading session.
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Prime Minister Mark Carney’s government is changing the rules for importers, allowing them to apply for exemptions from Canadian tariffs on a wider range of US goods while ending relief on some American-made aluminium products. When US President Donald Trump began imposing
Directly affected
- No company is named in this report.
Indirectly affected
- XLI Industrial Select Sector SPDR-0.3% 30d
Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story.
- XRT SPDR S&P Retail ETF
SPDR S&P Retail ETF: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story.
- PICK iShares MSCI Global Metals & Mining Producers ETF-9.5% 30d
iShares MSCI Global Metals & Mining Producers ETF: it holds metals and mining companies. Linked by “aluminium” (metals & mining) in this story.
- EWC iShares MSCI Canada ETF+0.9% 30d
iShares MSCI Canada ETF holds stocks listed in Canada, which this story is about (“canada”).
- CAT Caterpillar-27.6% 30d
Caterpillar (construction machinery and equip): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
- WMT Walmart+20.2% 30d
Walmart (variety stores): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
- DE Deere+0.6% 30d
Deere (farm machinery and equipment): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
- NKE Nike+10.7% 30d
Nike (rubber and plastics footwear): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| XLI | +1.48% | -3.77% | base | after close | after close | after close | after close |
| XRTNo price data for this ticker | — | — | — | — | — | — | — |
| PICK | -3.23% | -4.97% | base | after close | after close | after close | after close |
| EWC | -1.28% | -1.34% | base | after close | after close | after close | after close |
| CAT | +4.19% | -7.56% | base | after close | after close | after close | after close |
| WMTNo price data for this ticker | — | — | — | — | — | — | — |
| DE | -3.64% | -3.98% | base | after close | after close | after close | after close |
| NKENo price data for this ticker | — | — | — | — | — | — | — |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Canada expands US tariff exemptions, cuts some aluminium relief Mining Weekly
Source: Mining Weekly
Price since this story was published: Ishares Msci Global Metals & Mining (PICK)
| Company | When | Move | Status |
|---|---|---|---|
| Caterpillar (CAT) | three days earlier | -7.56% | final price |
| Caterpillar (CAT) | five days earlier | +4.19% | final price |
| Deere (DE) | three days earlier | -3.98% | final price |
| Deere (DE) | five days earlier | -3.64% | final price |
| Ishares Msci Canada Etf (EWC) | three days earlier | -1.34% | final price |
| Ishares Msci Canada Etf (EWC) | five days earlier | -1.28% | final price |
| Ishares Msci Global Metals & Mining (PICK) | three days earlier | -4.97% | final price |
| Ishares Msci Global Metals & Mining (PICK) | five days earlier | -3.23% | final price |
| Select Sector Spdr Tr (XLI) | three days earlier | -3.77% | final price |
| Select Sector Spdr Tr (XLI) | five days earlier | +1.48% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Lisa McClain bought Caterpillar (CAT) (held by a spouse), worth $1,001 - $15,000 on 28 Sep 2026. That is 43 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Walmart (WMT) (held by a dependent child), worth $15,001 - $50,000 on 13 Oct 2026. That is 28 days before publication. Filed 5 Nov 2026. View the filing.
- Rep. Rohit Khanna sold Walmart (WMT) (held by a spouse), worth $1,001 - $15,000 on 7 Oct 2026. That is 34 days before publication. Filed 5 Nov 2026. View the filing.
- Rep. Pete Sessions sold Walmart (WMT) (held by a spouse), worth $50,001 - $100,000 on 2 Oct 2026. That is 39 days before publication. Filed 27 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Nike (NKE), worth $15,001 - $50,000 on 28 Aug 2026. That is 74 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Gilbert Cisneros sold Nike (NKE), worth $15,001 - $50,000 on 27 Aug 2026. That is 75 days before publication. Filed 10 Sep 2026. View the filing.
- Donald J Trump, an executive branch official, sold Nike (NKE), worth $100,001 - $250,000 on 21 Aug 2026. That is 81 days before publication. Filed 8 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Ishares Msci Global Metals & Mining (PICK)
Companies mentioned with this story
- PICK Ishares Msci Global Metals & Mining
Ishares Msci Global Metals & Mining (PICK) is linked, with no stored direction, medium confidence in the 10 Nov 2026 story “Canada expands US tariff exemptions, cuts some aluminium relief.” Reason on file: iShares MSCI Global Metals & Mining Producers ETF: it holds metals and mining companies. Linked by “aluminium” (metals & mining) in this story
- XME Spdr Series Trust
Spdr Series Trust (XME) is linked, with no stored direction, medium confidence in the 10 Nov 2026 story “Canada expands US tariff exemptions, cuts some aluminium relief.” Reason on file: SPDR S&P Metals & Mining ETF: it holds metals and mining companies. Linked by “aluminium” (metals & mining) in this story
- XLI Select Sector Spdr Tr
Select Sector Spdr Tr (XLI) is linked, with no stored direction, medium confidence in the 10 Nov 2026 story “Canada expands US tariff exemptions, cuts some aluminium relief.” Reason on file: Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
- EWC Ishares Msci Canada Etf
Ishares Msci Canada Etf (EWC) is linked, with no stored direction, medium confidence in the 10 Nov 2026 story “Canada expands US tariff exemptions, cuts some aluminium relief.” Reason on file: iShares MSCI Canada ETF holds stocks listed in Canada, which this story is about (“canada”)
- CAT Caterpillar
For “Canada expands US tariff exemptions, cuts some aluminium relief,” Caterpillar (CAT) is linked, with no stored direction, medium confidence. Reason on file: Caterpillar (construction machinery and equip): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
- FCX Freeport-Mcmoran
For “Canada expands US tariff exemptions, cuts some aluminium relief,” Freeport-Mcmoran (FCX) is linked, with no stored direction, medium confidence. Reason on file: Freeport-McMoRan (metal mining): miners' profits move with metal prices. Linked by “aluminium” (metals & mining) in this story
- BHP BHP Group
In “Canada expands US tariff exemptions, cuts some aluminium relief,” BHP Group (BHP) is linked, with no stored direction, medium confidence. Reason on file: BHP Group (metal mining): miners' profits move with metal prices. Linked by “aluminium” (metals & mining) in this story
- DE Deere
For “Canada expands US tariff exemptions, cuts some aluminium relief,” Deere (DE) is linked, with no stored direction, medium confidence. Reason on file: Deere (farm machinery and equipment): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
Ishares Msci Global Metals & Mining (PICK)
The 10 Nov 2026 story “Canada expands US tariff exemptions, cuts some aluminium relief” names Ishares Msci Global Metals & Mining (PICK) because of this story.
What ties Ishares Msci Global Metals & Mining (PICK) to the headline is this: iShares MSCI Global Metals & Mining Producers ETF: it holds metals and mining companies. Linked by “aluminium” (metals & mining) in this story
A second company, Spdr Series Trust (XME), is listed for a different reason: SPDR S&P Metals & Mining ETF: it holds metals and mining companies. Linked by “aluminium” (metals & mining) in this story
Dates in the story, and the Ishares Msci Global Metals & Mining (PICK) price range
PICK traded between 54.38 and 61.57 across 20 sessions. The latest close on file is 56.72. XLI traded between 163.00 and 172.33 across 20 sessions. The latest close on file is 169.73. XME traded between 95.15 and 109.02 across 20 sessions. The latest close on file is 97.66.
What the saved facts support for Ishares Msci Global Metals & Mining (PICK)
46 out of 100
“Canada expands US tariff exemptions, cuts some aluminium relief” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.