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Ottawa May End U.S. Alcohol Bans to Dodge the Tariffs — What It Means for You

  August 10, 2026 · 6 min read With nine days left before the United States' 50% tariff on hundreds of Canadian goods is set to kick in, Ottawa appears willing to give up one of its most visible retaliation tools: the provincial bans on American beer, wine, and spirits. According to CBC News reporting from federal negotiators, Canada is prepared to end those bans, lift its retaliatory tariff on U.S.-made vehicles, and adjust how it allocates dairy import quotas — all in exchange for Washington dropping the looming 50% levy and easing existing duties on steel and aluminum. Talks have not produced a signed deal. Both sides have agreed to meet daily through August 19, and Canadian officials have reportedly told their American counterparts that the deadline is a real cliff: once the tariffs land, there's little political appetite left in Canada to keep negotiating. Whether that urgency produces an agreement in time is still an open question. What it means for you: Even if this dea...
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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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