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5 Things to Know Today: 3 Days to the Tariff Deadline

  August 16, 2026 Ottawa and Washington are down to the wire on a trade deal, the TSX just wrapped its best week in months, and Statistics Canada drops a report tomorrow that could shape your mortgage rate. Here's what's moving your money today. 1. The tariff deadline is 3 days out — and there's still no deal Wednesday, August 19 is when Washington's threatened 50% tariffs on roughly $20 billion of Canadian goods — autos, alcohol, and dairy — are set to kick in. Trade Minister Dominic LeBlanc and chief negotiator Janice Charette have met U.S. Trade Representative Jamieson Greer four times in three weeks, and a Canadian government source told Reuters this week that talks are "progressing well" and that Washington also wants a deal before the deadline. Reports suggest Ottawa is weighing concessions — dropping its retaliatory auto tariffs, easing provincial bans on U.S. alcohol, and adjusting dairy quotas — in exchange for the U.S. backing off. What it means for ...
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Trudeau Faces Pressure to Expand $250 Rebate Beyond Working Canadians

 

Prime Minister Justin Trudeau remains firm on his plan to provide a $250 rebate to "hardworking Canadians," despite mounting pressure from opposition parties to extend the benefit to seniors and individuals unable to work. The rebate is part of a broader affordability package announced by the Liberals, which also includes a temporary cut to the federal sales tax on popular holiday items.

During a recent announcement on Prince Edward Island, Trudeau was questioned about the possibility of expanding the rebate to non-working seniors and people with disabilities. He reiterated that the measure is intended to support working Canadians who need extra assistance, while also mentioning that the government is exploring other ways to help those who do not qualify for the rebate.

The opposition, including the NDP and Bloc Québécois, has been vocal in their demands for a more inclusive approach. They argue that the rebate should also benefit seniors and people with disabilities, who are equally in need of financial support. However, Trudeau has not introduced legislation to enact the rebate, and it remains uncertain whether he will secure the necessary support from the opposition to pass it.

The GST holiday bill, which temporarily eliminates the federal sales tax on a range of items, passed in the House of Commons with the help of the NDP and is awaiting approval from the Senate. This measure is expected to provide some relief to Canadians during the holiday season, but the debate over the rebate's scope continues to be a contentious issue.

As the government navigates these challenges, Trudeau's stance on the rebate underscores his commitment to recognizing the efforts of working Canadians, while also highlighting the ongoing discussions about how best to support all citizens in need.

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