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5 Things to Know Today: Retaliation Tariffs Set for Sept. 8

  Sunday, August 23, 2026 — Here's what's moving Canadian wallets today, from Ottawa's retaliation date to a fresh record for gold. 1. Canada's retaliation tariffs now have a date: Sept. 8 Prime Minister Mark Carney confirmed Saturday that Canada's "dollar for dollar" response to the new U.S. 50% tariffs will take effect Tuesday, September 8 — the day after Labour Day. Six sectors are named so far: steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics. Ottawa hasn't released the exact tariff rate or the product list yet, saying more details — including a promised support package for affected workers and businesses — are coming "in the coming days." What it means for you: If you buy imported appliances or electronics, or shop U.S. grocery brands in the newly named categories, price watch starts now — but nothing changes at the till until Sept. 8 at the earliest. 2. Markets face their first real test Monday Friday...
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Liberal Party Begins Leadership Race as Trudeau Announces Resignation


The Liberal Party of Canada has officially begun the process of selecting a new leader following Prime Minister Justin Trudeau's announcement that he will step down once a successor is chosen. Trudeau, who has led the party since 2013, stated that he is not the right choice to lead the party in the next election.

The party's president, Sachit Mehra, confirmed that a meeting of the national board of directors will be held this week to initiate the leadership contest. The board has the flexibility to determine the timeline for the leadership vote, which will be influenced by political circumstances.

Several potential candidates have already signaled their interest in running for the leadership position. Among the names frequently discussed are former finance minister Chrystia Freeland, who resigned from her cabinet position last month, and other prominent Liberal figures.

The leadership race comes at a critical time for the Liberal Party, as opposition parties are preparing to challenge the government through a non-confidence vote. The outcome of this leadership contest will shape the future direction of the party and its strategy for the upcoming federal election.



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