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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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Starbucks Workers Escalate Strike, Threatening Holiday Operations

 

Starbucks workers across the United States have launched a five-day strike, demanding better pay, staffing, and schedules. The strike, organized by the Starbucks Workers United union, began on December 20th in cities like Los Angeles, Chicago, and Seattle. The union warns that the strike could impact hundreds more stores by Christmas Eve.

Union members cite unresolved issues over wages and labor practices as key reasons for the protest. Despite earning an average of $21 an hour, baristas argue that this wage is inadequate given inflation and the high cost of living, especially since many employees don't receive 40-hour workweeks.

Starbucks has held multiple bargaining sessions with the union since April but claims that the union prematurely ended the latest session. The company has offered a 1.5% wage increase in future years, but the union has rejected this offer, demanding a more substantial raise.

As the holiday season approaches, the strike poses a significant challenge for Starbucks, which relies heavily on holiday sales. The union's actions reflect a broader trend of labor unrest in the service industry, with similar strikes occurring at other major companies.

The outcome of these negotiations remains uncertain, but the strike has already garnered significant attention and support from the public.



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