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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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Dow Set to Build on Rally as Major Week for Markets Begins

 

The Dow Jones Industrial Average is poised to continue its upward momentum as a significant week for the markets kicks off. U.S. stock futures rose on Monday, with Dow futures up approximately 0.4%, following a surge of over 650 points last week. S&P 500 futures and Nasdaq 100 futures also showed gains of 0.4% and 0.6%, respectively.

Investors are gearing up for a busy week filled with key events, including a Federal Reserve rate decision, the July nonfarm payrolls report, and earnings reports from major tech companies like Apple, Microsoft, Amazon, and Meta. The market’s recent rally was bolstered by a promising inflation reading, which has strengthened bets for future interest-rate cuts.

Despite the positive outlook, the market remains cautious after a volatile period marked by a significant tech sell-off. The Federal Reserve is expected to hold off on any rate changes at its meeting on Wednesday, with many analysts predicting that any action will be delayed until September. The upcoming jobs report on Friday is anticipated to reveal potential weaknesses in the labor market, which could influence the timing and extent of future rate cuts.

As investors await these crucial updates, over 150 members of the S&P 500 are set to release their quarterly results, starting with McDonald’s on Monday. This week promises to be a pivotal one for the markets, with potential surprises that could test the resilience of the current rally.


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