Skip to main content

Featured

U.S.–Iran Strikes Escalate: What It Means for Your Gas Bill and Savings

  ⚡ BREAKING · MAY 8, 2026 By MoneySavings.ca Editorial Team   |  May 8, 2026  |  5 min read The Strait of Hormuz, photographed from space. Approximately 20% of the world's oil supply passes through this narrow waterway. (Image: NASA / Public Domain) American warships were attacked in the Strait of Hormuz on May 7, 2026 — and the U.S. military fired back hard, striking Iranian ports at Qeshm and Bandar Abbas. For Canadians, this isn't just a distant war story. It's a pocketbook issue. 20% of global oil transits the Strait of Hormuz every day $94 projected WTI crude price per barrel if closure continues (CEPR, 2026) 5% of normal shipping traffic still moving through the Strait What Happened — and When The crisis didn't begin overnight. On February 28, 2026, the United States and Israel launched coordinated strikes against Iran, targeting nuclear infrastructure and senior military leadership — including Supreme Leader Ali Khamenei, who was killed in the strik...
Post a Comment
Read more

article

Labels

Canadian Businesses and Unions Unite to Address Trump's Tariff Threats

In response to the looming threat of tariffs from U.S. President-elect Donald Trump, Canadian businesses and unions have come together to form a trade council. This council aims to collaborate with the federal government in Ottawa to develop strategies to mitigate the potential economic impact of these tariffs.

The council's formation comes as Prime Minister Justin Trudeau and Canada's premiers prepare to meet to discuss the country's response to Trump's promise of imposing a 25% tariff on all Canadian imports. The tariffs, which are expected to be implemented shortly after Trump takes office, could have devastating effects on the Canadian economy, potentially leading to significant job losses and economic instability.

Ontario Premier Doug Ford has expressed concerns about the potential impact of the tariffs, estimating that up to 500,000 jobs in Ontario alone could be at risk. The trade council will work closely with the federal government to develop a comprehensive plan to address these challenges and protect Canadian industries and workers.

The council's efforts will include exploring potential retaliatory measures, such as imposing tariffs on U.S. goods, and developing strategies to strengthen Canada's economic resilience. By uniting businesses and unions, the council aims to present a coordinated and robust response to the tariff threats, ensuring that Canada's interests are protected in the face of these unprecedented challenges.


Labels:

Comments

Post a Comment