Feb 11 (Reuters) - Futures tied to Canada's main stock index were subdued on Tuesday as investors weighed the potential implications of new U.S. tariffs on steel and aluminum imports.
March futures on the S&P/TSX index were down 0.03% at 6.35 a.m. ET (1135 GMT).
U.S. President Donald Trump raised tariffs on steel and aluminum imports on Monday to a flat 25% without exceptions, aiming to support U.S. industries but risking trade conflicts. The new duties take effect on March 4, a White House official confirmed.
Trump has also promised to announce global reciprocal tariffs within days.
Looking ahead, investors awaited U.S. Federal Reserve Chair Jerome Powell's testimony later in the day, where he is expected to address tariffs and inflation before the Senate Banking, Housing and Urban Affairs Committee.
Market focus also remains on U.S. inflation data, which is due on Wednesday.
The Toronto Stock Exchange's S&P/TSX composite index rose on Monday as technology and resource shares notched gains, with investors remaining optimistic on the market's prospects.
Despite the uncertainty from U.S. tariff threats, the composite index has gained 3.8% so far in 2025.
In commodities, gold prices remained near the record high, spurred by safe-haven demand as Trump's new tariffs heightened concerns about a global trade war.
Oil prices , continued to rise amid worries over Russian and Iranian oil supply and the threat of sanctions.
In corporate news, cinema chain Cineplex missed fourth-quarter revenue estimates.
Reporting by Ragini Mathur in Bengaluru; Editing by Vijay Kishore
Source: Reuters