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5 Things to Know Today: 3 Days to the Tariff Deadline

  August 16, 2026 Ottawa and Washington are down to the wire on a trade deal, the TSX just wrapped its best week in months, and Statistics Canada drops a report tomorrow that could shape your mortgage rate. Here's what's moving your money today. 1. The tariff deadline is 3 days out — and there's still no deal Wednesday, August 19 is when Washington's threatened 50% tariffs on roughly $20 billion of Canadian goods — autos, alcohol, and dairy — are set to kick in. Trade Minister Dominic LeBlanc and chief negotiator Janice Charette have met U.S. Trade Representative Jamieson Greer four times in three weeks, and a Canadian government source told Reuters this week that talks are "progressing well" and that Washington also wants a deal before the deadline. Reports suggest Ottawa is weighing concessions — dropping its retaliatory auto tariffs, easing provincial bans on U.S. alcohol, and adjusting dairy quotas — in exchange for the U.S. backing off. What it means for ...
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Canadian Stocks Edge Higher, U.S. Markets Slip on Last Trading Day of 2023

 

Canadian stocks closed slightly higher on Friday, the last trading day of 2023, as gains in the industrials and utilities sectors offset losses in the energy and materials sectors. The S&P/TSX composite index rose 29.06 points, or 0.14%, to end at 20,958.44, capping off a year of strong performance amid the recovery from the pandemic.

Meanwhile, U.S. markets dipped as investors took profits and weighed the impact of the Omicron variant on the economic outlook. The Dow Jones industrial average fell 20.56 points, or 0.05%, to 37,689.54, while the S&P 500 index dropped 13.52 points, or 0.28%, to 4,769.83. The Nasdaq composite index, which is heavily weighted with technology stocks, declined 83.78 points, or 0.56%, to 15,011.35.

The Canadian dollar traded lower against its U.S. counterpart, as the greenback strengthened on the back of higher Treasury yields. The loonie was down 0.08 cents at 75.61 cents US.

In commodities, oil prices edged lower as the Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed to stick to their plan of gradually increasing output in January, despite concerns over the demand outlook. The February crude oil contract was down 12 cents at US$71.65 per barrel. Natural gas prices also slipped, with the February natural gas contract down four cents at US$2.51 per mmBTU.

Gold prices fell as the appetite for safe-haven assets waned, while copper prices also dropped amid a stronger U.S. dollar. The February gold contract was down US$11.70 at US$2,071.80 an ounce and the March copper contract was down three cents at US$3.89 a pound.

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