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5 Things to Know Today: US Import Ban, Oil Tops $100, TSX Slides, ECB Hikes

  September 10, 2026 A big trade-war escalation, a return of $100 oil, a wobbly TSX, and a central bank on the move overseas — here's what's moving markets and your wallet this morning. 1. Washington Bans Canadian Alcohol, Dairy Ingredients and Motorcycles The trade war jumped up another notch Tuesday night. The White House issued executive orders banning imports of most Canadian alcoholic beverages — beer, wine, whisky, vodka, rum, tequila and more — along with whey protein, molasses and non-alcoholic beer, plus Canadian-made motorcycles. The bans take effect September 29. Several cheese products were added to the existing 50% tariff list rather than banned outright, and Trump's threat to raise auto tariffs from 25% to 50% on January 1 remains on the table. The move follows Canada's own $27.6-billion retaliation tariffs, which took effect at midnight Tuesday. Trade Minister Dominic LeBlanc called the U.S. measures "unjustified." What it means for you: This m...
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Canadian Seniors to Receive Increased Old Age Benefits

 

Canadian seniors are set to receive a boost in their Old Age Security (OAS) benefits starting this July. The increase, which is part of a scheduled adjustment to account for inflation, will see benefits rise by 2.8% compared to the previous year.

For seniors aged 65 to 74, the maximum monthly OAS payment will now be up to $718.33. Those aged 75 and older will receive a maximum monthly payment of $790.16. These adjustments are crucial as retirement becomes increasingly unaffordable for many Canadians.

In addition to the OAS pension, eligible seniors and their partners may also qualify for extra benefits such as the Guaranteed Income Supplement (GIS), Allowance, and the Allowance for the Survivor. For single, widowed, or divorced Canadians aged 65 or older with an annual net income of less than $21,768, the maximum GIS payment per month is set at $1,072.93.

These increases aim to provide better financial support to seniors, ensuring they can maintain a decent standard of living during their retirement years.


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