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5 Things to Know Today: Retaliation Tariffs Set for Sept. 8

  Sunday, August 23, 2026 — Here's what's moving Canadian wallets today, from Ottawa's retaliation date to a fresh record for gold. 1. Canada's retaliation tariffs now have a date: Sept. 8 Prime Minister Mark Carney confirmed Saturday that Canada's "dollar for dollar" response to the new U.S. 50% tariffs will take effect Tuesday, September 8 — the day after Labour Day. Six sectors are named so far: steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics. Ottawa hasn't released the exact tariff rate or the product list yet, saying more details — including a promised support package for affected workers and businesses — are coming "in the coming days." What it means for you: If you buy imported appliances or electronics, or shop U.S. grocery brands in the newly named categories, price watch starts now — but nothing changes at the till until Sept. 8 at the earliest. 2. Markets face their first real test Monday Friday...
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US Economy Surges: 303,000 Jobs Added in March, Exceeding Expectations

 

In a remarkable turn of events, the US economy added a whopping 303,000 jobs last month, far surpassing economists’ expectations. This surge marks the 39th consecutive month of job gains in the country.

Key Highlights:

  • Unemployment Rate: The unemployment rate stands at 3.8%, reflecting a robust labor market.
  • Strong Hiring: Despite the Federal Reserve’s efforts to cool inflation by raising interest rates, hiring remains surprisingly strong. Over the past 16 months, the Fed has gradually increased its benchmark interest rates from near zero to over 5%. However, recent rate hikes have been paused, and Fed Chair Jerome Powell hinted at potential rate cuts in response to perceived job market weakness.
  • ADP Report: Earlier this week, ADP—the largest private payroll company in the US—reported that businesses added 184,000 new positions in March, the highest rise since July last year.

The next rate decision by the Federal Reserve is scheduled for May. Powell emphasized the delicate balance between controlling inflation and supporting economic activity and employment. As he stated, “Reducing rates too soon or too much could result in a reversal in the progress we’ve seen on inflation. But easing policy too late or too little could unduly weaken economic activity.”

The March employment report underscores the resilience of the US labor market, even amidst global uncertainties. As we move forward, all eyes remain on the delicate dance between monetary policy and economic growth.

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