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 ( CPXGF ) missed

fourth-quarter revenue estimates.

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