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5 Things to Know Today — June 16, 2026

1 TSX Surges 1% on US-Iran Peace Deal The S&P/TSX Composite Index surged 1% to a record 35,276 on Monday following news of a preliminary US-Iran peace agreement. Bank stocks led the rally—RBC, TD, and BMO all advanced strongly—while mining shares gained as gold prices rose. Energy stocks fell sharply as oil prices sank on expectations of renewed supply flows from the Middle East. 2 Bank of Canada's Rate Hold Still in Focus Markets continue to assess the June 10 BoC decision to hold the overnight rate at 2.25%. Economists are watching for signs of inflation stability in upcoming CPI data before any potential rate cuts later this year. Fixed mortgage rates remain elevated, keeping the renewal crisis front and centre for Canadian households. 3 Canada-US Dollar Weakens Near 1.40 The Canadian dollar weakened to around 1.40 USD/CAD as the loonie remains under pressure from soft domestic growth and US trade policy uncertainty. The BoC's measured rate-hold stance is being counte...
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Trump Administration Announces Tariffs on Canada, Mexico, and China Starting Saturday


The White House has confirmed that President Donald Trump will impose tariffs on imports from Canada, Mexico, and China starting this Saturday. According to White House Press Secretary Karoline Leavitt, the tariffs will be 25% on imports from Canada and Mexico, and 10% on goods from China.

The decision follows through on Trump's earlier threats aimed at pressuring these countries to halt the flow of migrants and fentanyl across their borders. Despite concerns about potential price increases for U.S. consumers, Leavitt emphasized that these measures are part of the administration's commitment to "promises made and promises kept".

The tariffs are set to take effect without any exemptions, raising questions about their impact on the economy and trade relations. The administration remains firm on its stance, with Leavitt stating that the President is determined to implement these tariffs while addressing inflation and costs for Americans.




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