Canada Matches Trump Tariffs | Radio Balance of Power: Early Edition 8/25/2026

Watch on YouTube ↗  |  August 25, 2026 at 20:12  |  47:56  |  Bloomberg Markets
Speakers
Charlie Pellett — Anchor/Reporter, Bloomberg
Joe Mathieu — Host, Bloomberg Radio
Kevin Brady — Former Chairman, House Ways and Means Committee
Gabe Amo — U.S. Representative, Rhode Island

Summary

Bloomberg's Joe Mathieu covers Canada matching Trump tariffs dollar-for-dollar and China's pushback on Iran sanctions. Market updates include gains in U.S. steel names, a decline in oil, and Nvidia strength before earnings. Interviews include Rep. Gabe Amo on tariff impacts, a political panel on mail-in voting, and former Congressman Kevin Brady on USMCA and fiscal risks.

  • Canada doubles counter-tariffs on U.S. steel and aluminum to 50%, set for Sept. 8.
  • U.S. steel producers U.S. Steel, Cleveland-Cliffs, and Nucor trade higher.
  • China says its Iran relationship should not be disrupted and may reduce Iranian crude imports.
  • Rep. Gabe Amo warns tariffs will hurt Rhode Island jobs, tourism, and fishermen.
  • Supreme Court allows mail-in voting restrictions for now; panel debates 2028 impact.
  • Kevin Brady says a USMCA deal is still possible and remains vital to North America.
  • Brady emphasizes fiscal restraint as federal debt hits $40 trillion.
  • Oil slides while stocks and Nvidia rise ahead of earnings.
Ideas
Charlie Pellett Anchor/Reporter, Bloomberg 1:11
Canada steel tariffs lift U.S. steelmakers.
Canada is matching U.S. tariffs dollar-for-dollar and doubling existing counter-tariffs on U.S. steel and aluminum to 50%; this trade escalation is lifting U.S. steel producers, with U.S. Steel parent trading up 0.9%, Cleveland-Cliffs up 1.3%, and Nucor up 0.8%.
X CLF NUE MED
Charlie Pellett Anchor/Reporter, Bloomberg 20:12
Dick's weak Footlocker unit slams stock.
Dick's Sporting Goods is plunging 28.9% after reporting weakness in its recently acquired Footlocker unit; Footlocker is also trading lower on the same concern.
DKS FL MED
Joe Mathieu Host, Bloomberg Radio 20:46
Nike oversold at three-handle price.
Joe Mathieu argues Nike is washed out at a three-handle price and questions who is left to sell, suggesting the stock may be due for a rebound at some point.
NKE LOW
Charlie Pellett Anchor/Reporter, Bloomberg 34:10
United expansion lifts airline shares.
United Airlines is adding 10 destinations in Europe and Asia to its network next year, lifting its shares by 1%, with Delta higher by 0.3% on cross-Atlantic airline strength.
UAL DAL LOW
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This Bloomberg Markets video, published August 25, 2026, features Charlie Pellett, Joe Mathieu discussing X, CLF, NUE, DKS, FL, NKE, UAL, DAL. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Charlie Pellett, Joe Mathieu  · Tickers: X, CLF, NUE, DKS, FL, NKE, UAL, DAL