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5 Things to Know Today: Trump Pauses the Tariffs, but Your Wallet Isn't Off the Hook

  August 19, 2026 Just before midnight, Donald Trump pressed pause on the 50% tariff hit that was supposed to land on Canadian goods this morning. It's not over, and it's not free — here's what actually changed and what still costs you money. 1. Trump paused the 50% tariffs for three days, citing a "deal" Less than two hours before the Aug. 19 deadline, President Trump posted on Truth Social that he was pausing the new 50% tariffs on Canadian dairy, alcohol, and a long list of other goods for three days, saying Canada and the U.S. have a deal "subject to the finalization of documents." Prime Minister Mark Carney was more measured, calling it "substantial progress" while noting "there is important work still to be done." A White House statement said Canada has "expressed a commitment" to address U.S. concerns on alcohol, autos, and dairy — but no signed text exists yet, and the pause is only 72 hours. What it means for you: ...
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Alberta Stands Alone: Refuses to Sign Joint Statement on Trump Tariffs

 

In a surprising turn of events, Alberta has refused to sign a joint statement from the first ministers' meeting regarding the Trump administration's proposed tariffs on Canadian goods. Premier Danielle Smith, who attended the meeting virtually, stated that Alberta cannot support the federal government's plan if it includes energy export tariffs. 

The meeting, chaired by Prime Minister Justin Trudeau, aimed to present a united front against the U.S. tariff threats. However, Smith's refusal to sign the statement has highlighted the province's unique concerns about the potential impact on its energy sector. Alberta's oil and gas industry, which is Canada's largest export to the U.S., could face significant financial pressure if the tariffs are implemented.

Smith emphasized that Alberta will take whatever actions are necessary to protect its economy and the livelihoods of its residents. This stance has sparked a debate among the premiers, with some urging unity while others acknowledge Alberta's specific vulnerabilities.

The situation remains tense as Canada awaits further developments from the Trump administration. The potential tariffs could have far-reaching consequences for the Canadian economy, particularly for Alberta's vital energy sector.


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