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5 Things to Know Today: Retaliation Tariffs Hit, Oil Spikes on Saudi Strikes

  Tuesday, September 8, 2026 — Your morning rundown of the Canadian financial news that actually affects your wallet. 1. Canada's $27.6B Retaliation Tariffs Take Effect At 12:01 a.m. today, Canada's countermeasures against more than 700 U.S. products came into force, matching Washington's August 22 tariffs dollar-for-dollar. Tariffs on American steel and aluminum double to 50%, while new levies of 15% to 50% now apply to dairy, appliances, agricultural equipment, pulp and paper, and electronics. A $7.5-billion support package is rolling out for affected Canadian businesses. What it means for you: U.S.-made appliances (fridges, freezers, washers, dryers, ranges) now carry a 25% tariff, and cheese, whey, and milk powder imports jump 25%–50%. Shopping for a new appliance or specialty dairy product? Expect price increases to show up at retail over the coming weeks. 2. Oil Surges to ~$99 on Overnight Saudi Strikes Overnight strikes on Saudi energy facilities pushed Brent crude...
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Eastern Bangladesh Struggles Amid Deadly Flooding

 

Floodwaters Devastate Eastern Region Millions of people in eastern Bangladesh are grappling with severe flooding caused by heavy monsoon rains. The situation has led to evacuations, deaths, and widespread displacement.

Stranded and Cut Off The worst-hit districts, including Cumilla, Feni, and Noakhali, have seen power outages and severed road links. Many residents are stranded near their homes, which are inundated with floodwater. Travel and communication between the capital, Dhaka, and the southeastern port city of Chattogram have been disrupted due to waterlogged highways.

Rescue Efforts Underway Rescuers are working tirelessly to reach those in need, but the rising waters from upstream Tripura state have made their task challenging. Volunteers with boats and speedboats are struggling to communicate with affected people, as mobile networks are down in many areas. The military and other authorities have initiated rescue operations.

Blaming India Some in Bangladesh have blamed India for the flash floods, alleging that India opened a river dam in Tripura, causing sudden floods downstream. However, India’s Ministry of External Affairs denies this claim.

In summary, eastern Bangladesh faces a dire situation as floodwaters continue to wreak havoc. Evacuations, rescue efforts, and communication challenges persist, leaving communities in distress.

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