Geopolitics Alpha

The countries fighting back against Trump's tariff tirade

Published . Updated .

The countries fighting back against Trump's tariff tirade

Donald Trump is using tariffs to test the reach of American economic power across the Americas. Canada’s deep integration with the US makes resistance costly, while Brazil has more room to turn towards China.

Directly affected

  • No company is named in this report.

Indirectly affected

  • XLI Industrial Select Sector SPDR-1.5% 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.

  • EWZ iShares MSCI Brazil ETF-14.7% 30d

    iShares MSCI Brazil ETF holds stocks listed in Brazil, which this story is about (“brazil”).

  • EWC iShares MSCI Canada ETF+0.3% 30d

    iShares MSCI Canada ETF holds stocks listed in Canada, which this story is about (“canada”).

  • CAT Caterpillar-23.7% 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.

  • DE Deere-0.9% 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+7.1% 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.

  • AAPL Apple+1.4% 30d

    Apple (electronic computers): 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

TickerT-5T-3T-1T0T+1T+2T+3
XLINo price data for this ticker———————
XRTNo price data for this ticker———————
EWZNo price data for this ticker———————
EWCNo price data for this ticker———————
CATNo price data for this ticker———————
DENo price data for this ticker———————
NKE-2.04%-3.94%baseafter closeafter closeafter closeafter close
AAPL-0.24%-0.21%baseafter closeafter closeafter closeafter close

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.

Market Call

Think this story will push the stock up or down over the next three trading days? Make a free call and see what other readers think. Points are play money with no cash value.

The countries fighting back against Trump's tariff tirade DW.com

Source: DW.com

Select Sector Spdr Tr (XLI) since “The countries fighting back against Trump's tariff tirade,” compared with the market

CompanyWhenMoveStatus
AAPLthree days earlier-0.21%final price
AAPLfive days earlier-0.24%final price
Nike (NKE)three days earlier-3.94%final price
Nike (NKE)five days earlier-2.04%final price

Trades by members of Congress and officials in the stocks in this story

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 is named in “The countries fighting back against Trump's tariff tirade”

Companies carried with this story

  • XLI Select Sector Spdr Tr

    Select Sector Spdr Tr (XLI) is linked, with no stored direction, medium confidence in the 31 Oct 2026 story “The countries fighting back against Trump's tariff tirade.” 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

  • XRT Spdr Series Trust

    Spdr Series Trust (XRT) is linked, with no stored direction, medium confidence in the 31 Oct 2026 story “The countries fighting back against Trump's tariff tirade.” Reason on file: SPDR S&P Retail ETF: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story

  • CAT Caterpillar

    Caterpillar (CAT) is linked, with no stored direction, medium confidence in the 31 Oct 2026 story “The countries fighting back against Trump's tariff tirade.” 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

  • DE Deere

    Deere (DE) is linked, with no stored direction, medium confidence in the 31 Oct 2026 story “The countries fighting back against Trump's tariff tirade.” 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

  • WMT Walmart

    Walmart (WMT) is linked, with no stored direction, medium confidence in the 31 Oct 2026 story “The countries fighting back against Trump's tariff tirade.” Reason on file: Walmart (variety stores): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story

  • NKE Nike

    In “The countries fighting back against Trump's tariff tirade,” Nike (NKE) is linked, with no stored direction, medium confidence. Reason on file: Nike (rubber and plastics footwear): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story

How “The countries fighting back against Trump's tariff tirade” reaches Select Sector Spdr Tr (XLI)

The 31 Oct 2026 story “The countries fighting back against Trump's tariff tirade” names Select Sector Spdr Tr (XLI) because of this story.

What ties Select Sector Spdr Tr (XLI) to the headline is this: Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story

Spdr Series Trust (XRT) is here too. Its reason reads: SPDR S&P Retail ETF: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story

Dates and price levels for Select Sector Spdr Tr (XLI)

CAT traded between 616.71 and 876.39 across 20 sessions. The latest close on file is 622.77. XLI traded between 163.00 and 172.33 across 20 sessions. The latest close on file is 167.42.

How solid “The countries fighting back against Trump's tariff tirade” looks

46 out of 100

“The countries fighting back against Trump's tariff tirade” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.