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Tariff Day: Canada's $27.6B Retaliation Hits as Oil Spikes on Saudi Strikes

  Tuesday, September 8, 2026 Markets reopen today after the long weekend into a genuinely loaded news cycle. Canada's $27.6-billion retaliation tariffs on U.S. goods took effect at 12:01 a.m. this morning, and overnight, attacks on Saudi energy facilities sent oil prices sharply higher, adding a fresh inflation headache on top of an already-hawkish rate picture. Here's everything moving Canadian and global markets today. The 30-second version: Canada's counter-tariffs on U.S. goods (dairy, appliances, steel, electronics and more) are live as of this morning. Overnight strikes on Saudi energy infrastructure pushed Brent above $99 and WTI above $94, a third straight day of gains. Friday's close (markets were shut Monday for Labour Day) had the TSX down 0.33% and Wall Street lower on hot U.S. jobs data that's boosted Fed rate-hike odds to around 58%. Futures are pointing to a soft open in North America this morning. 🇨🇦 TSX: Last Close (Friday, Sept. 4) Canadian mar...
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Russia Rejects Trump's Ukraine Peace Proposals

In a significant diplomatic development, Russian Foreign Minister Sergey Lavrov has rejected the peace proposals floated by President-elect Donald Trump's allies to end the ongoing war in Ukraine. Lavrov stated that Moscow has not received any official signals regarding a settlement in Ukraine but expressed dissatisfaction with the unofficial ideas being circulated. 

The proposals reportedly included delaying Ukraine's NATO membership for 20 years and stationing British and European peacekeeping forces in Ukraine. Lavrov emphasized the need for reliable and legally binding agreements that address the root causes of the conflict and prevent future violations. 

Trump, who campaigned on ending the war by the time he takes office, has not officially released any proposals to end the conflict. However, he has claimed that he could end the war within 24 hours of taking office. Despite these claims, Lavrov expressed skepticism about Trump's ability to restore ties between Russia and the U.S., citing the current bipartisan consensus on deterring Russia.

The rejection of these proposals marks a setback for Trump's hopes to freeze the conflict and highlights the complexities of achieving a lasting peace in the region.



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