TSX Dips on US-Canada Trade Uncertainty

2026-02-23 13:30 By Isabela Couto 1 min. read

Futures tracking the S&P/TSX Composite Index edged down on Friday as traders grappled with lingering uncertainty around US trade policy and its potential impact on the Canadian economy.

While a recent US Supreme Court ruling struck down broad tariff powers, key sector-specific levies on steel, aluminum and autos remain in place, leaving markets cautious about Canada–US trade relations and future tariff risk.

The ambiguity around whether fresh tariffs could be imposed under alternative legal authorities has kept investors on edge, particularly for Canada’s export-oriented sectors.

Gold prices rose for a fourth straight session as geopolitical tensions and tariff concerns drove safe-haven demand, supporting mining shares.

Oil prices traded higher, which lifts pressure off energy stocks.

On the corporate front, Emera reported earnings above market expectations and NexGen Energy is due to release results after the close, adding to an active earnings calendar.



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