Citigroup released a report stating that under President Trump's threat to impose a 25% tariff on imports from Canada and Mexico, steel and aluminum will be the metals most affected.

The report states that Canada and Mexico are the largest metal suppliers to the United States, and Trump's tariff plan will lead to price increases for American steel and aluminum, with estimated price increases of $100 to $150 per ton of steel. The Midwest United States aluminum trading premium may exceed the London Metal Exchange price, reaching 50 cents per pound.