Tariffs Dragged Canada's Steel, Lumber Stocks to the Bottom of the TSX in 2025 -- Market Talk

Dow Jones01-01

1421 ET - Canada's steel and lumber producers were among the TSX's weakest performers in 2025 as U.S. tariffs and soft demand hit both pricing and profitability. Canfor and West Fraser Timber faced lower lumber prices and as well as reduced operations in the year, while U.S. tariffs added significant pressure to margins. Canadian steel producer Algoma Steel was also hard-hit by U.S. tariffs which peaked at 50% on steel and aluminum products, limiting shipments to the U.S., one of its largest markets, and dragging earnings as a result. Tariffs also weighed on sentiment for these stocks. Algoma shares fell 60% in 2025, while Canfor and West Fraser shares fell 23% and 33%, respectively. Canada's traditional resource names ended the year firmly among to worst performers on the TSX. (adriano.marchese@wsj.com)

(END) Dow Jones Newswires

December 31, 2025 14:21 ET (19:21 GMT)

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