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Sept 15 Tariff Shift: What's Actually Changing on Canadian Goods (And What Isn't)

  Published September 12, 2026 At 12:01 a.m. ET on Tuesday, September 15, a new round of U.S. tariff changes takes effect on Canadian goods. If you've seen headlines calling this a "new 50% tariff on Canadian steel, aluminum and paper," here's the more accurate story: it isn't a new tariff at all. It's the U.S. reshuffling which products fall under a 50% tariff that's already been in place since August 22 — adding some categories, removing others, on the same day. Here's what's actually happening, and why it matters more to Canadian manufacturers and cross-border shoppers than to your everyday grocery bill. The tariff this modifies Back on August 22, 2026, the U.S. imposed a 50% tariff under Section 338 of the Tariff Act of 1930 on roughly $20 billion CAD of Canadian goods. The White House framed it as retaliation for Canadian "discrimination" against U.S. alcoholic beverages, dairy, and motor vehicles — three separate proclamations, eac...
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Powell’s Words Rattle Investors

 

US stock futures took a tumble today after Federal Reserve Chair Jerome Powell poured cold water on hopes for an early interest rate cut. As we head into a busy week of corporate earnings, investors are closely watching the impact of Powell’s statements on the recent market rally. S&P 500 ( ^GSPC) futures slipped 0.2%, signaling a pullback from the benchmark’s record-setting run, Dow Jones Industrial Average ( ^DJI) futures shed roughly 0.2%. and  Nasdaq 100 ( ^NDX) futures dropped 0.1%.

Powell, in a recent “60 Minutes” interview, reiterated the central bank’s cautious approach to rate cuts. He emphasized that the “danger of moving too soon is the job’s not quite done” in quelling inflation. Traders responded by scaling back their bets on rate cuts, not only for March but also for May, according to the CME FedWatch Tool.

US bonds sank, with the 10-year Treasury yield ( ^TNX) rising about six basis points to 4.08%. This move reflects the market’s recalibration of expectations following Powell’s remarks.

Investors are now turning their attention to quarterly results. Last week’s triumphant reports from Meta (META) and Amazon (AMZN) fueled the recent rally. Today, McDonald’s (MCD) disappointed with sales falling short of Wall Street estimates. The coming days will be crucial as a wave of corporate earnings reports determines whether the rally can sustain its momentum.


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