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Carney's Retaliation List: What It Could Mean for Your Grocery Bill

  Published August 22, 2026 · Canadian Money Brief The 50% U.S. tariffs on roughly $28 billion of Canadian goods are no longer a threat — they took effect at 12:01 a.m. Saturday after last-minute talks between Ottawa and Washington collapsed Friday night. Prime Minister Mark Carney responded by suspending negotiations entirely and promising to hit back "dollar for dollar." Unlike the tariff deadline itself, this part isn't happening tonight: Carney says Canada's countermeasures won't take effect until September 8 , and the exact product list is still being finalized. That two-and-a-half week gap matters for your wallet. It's a window where the general shape of the retaliation is known, but the fine print — the specific products, the exact surtax rates, which exemptions get carved out — is still being written in Ottawa. Here's what's confirmed, what history tells us to expect, and how to think about the impact on your own spending. What's confirmed ...
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RRSP 2024 Deadline: What You Need to Know (and Whether You Should Contribute)

 


As the RRSP contribution deadline for 2024 approaches, it’s essential to understand the basics of Registered Retirement Savings Plans (RRSPs) and make informed decisions about your financial future. Let’s dive into the key points:

What Is an RRSP?

An RRSP (Registered Retirement Savings Plan) is a tax-sheltered investment vehicle available to Canadians. Here’s how it works:

  1. Tax Deductions: Contributions to your RRSP are tax-deductible. When you contribute, your effective earned income decreases, resulting in a lower marginal tax rate.
  2. Tax-Deferred Growth: Any gains made within an RRSP are tax-deferred. You only pay taxes when you withdraw funds.
  3. Annual Contribution Limit: RRSPs have an annual contribution limit, which carries over any unused room from previous years.

RRSP Contribution Deadline for 2024

The RRSP contribution deadline for the 2023 tax year is February 29, 2024. Contributions made during the first 60 days of the year can be applied against the previous taxation year or any subsequent year.

Why Contribute to an RRSP?

  1. Tax Benefits: RRSPs offer attractive tax characteristics. Contributions are both tax-deductible and tax-deferred.
  2. Retirement Planning: RRSPs help you prepare for retirement by building a nest egg.
  3. Investment Flexibility: RRSPs can hold various investment vehicles, including bonds, mutual funds, equities, and more.

Should You Contribute?

While RRSPs remain stalwart financial choices, some experts advise caution. Consider the following factors:

  1. Stretching Finances: Many Canadians feel stretched when saving for retirement.
  2. Alternatives: Newer options like the First Home Savings Account (FHSA) may be worth exploring.
  3. Individual Circumstances: Assess your financial situation and goals before contributing.

Remember that RRSPs play a crucial role in long-term financial planning. Consult with a financial advisor to determine the best approach for your unique circumstances.

Maximize your RRSP contributions where possible, stay informed about deadlines, and make decisions that align with your financial objectives. Whether you’re a seasoned investor or just starting, RRSPs remain a valuable tool for securing your financial future.


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