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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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Netanyahu Warns of Escalating Tensions as Gaza Operations Wind Down

 

Israeli Prime Minister Benjamin Netanyahu recently announced that the current phase of fighting against Hamas in Gaza is winding down. However, his statement comes with a caveat: the war against Hamas is not over, and Israel may soon shift its focus to another front—the northern border with Lebanon.

In a lengthy TV interview, Netanyahu explained that while the Israeli army is close to completing its current ground offensive in the southern Gaza city of Rafah, this does not signal the end of hostilities. Instead, he emphasized the need to free up forces to confront Hezbollah, the Lebanese militant group backed by Iran. Netanyahu’s decision to re-deploy troops to the northern border raises concerns about escalating tensions in the region.

Hezbollah, a formidable force compared to Hamas, has been engaging in near-daily exchanges of fire with Israel since Hamas’ cross-border attack in October. The recent escalation has heightened fears of a larger conflict involving other Iranian proxies and potentially Iran itself. Such a war could result in heavy damage and casualties on both sides of the border.

While Netanyahu expressed hope for a diplomatic solution, he also asserted that Israel is prepared to fight on multiple fronts. Any resolution would require Hezbollah to move far from the border, an effective enforcement mechanism, and the return of displaced Israelis to their homes. Tens of thousands of people remain evacuated since the conflict erupted.

As the situation remains tense, international efforts continue to find a peaceful resolution. However, Netanyahu’s warning underscores the delicate balance between winding down Gaza operations and the potential for a new conflict in Lebanon.

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