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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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Canada Vows Robust Retaliation Against ‘Unjustified’ U.S. Metal Tariffs

 

Canadian Prime Minister Justin Trudeau has warned that if the United States moves forward with its proposed steel and aluminum tariffs—deemed “entirely unjustified”—Ottawa will respond decisively. Speaking at the sidelines of the Paris Artificial Intelligence summit, Trudeau stressed that Canadians will “stand up strongly and firmly if we need to,” underscoring his government's commitment to defending the long‐standing trade relationship between the two countries. 

Trudeau argued that imposing such tariffs would not only damage Canadian industries but also raise costs for American consumers by disrupting vital supply chains, from automotive manufacturing to energy imports. He emphasized that any tariff imposed by Washington would trigger immediate reciprocal measures from Canada to protect its economic interests and ensure that the free trade agreement remains intact. 

The Prime Minister’s remarks come amid growing concerns that these U.S. trade measures could escalate tensions and lead to a broader economic conflict—one that would hurt businesses and households on both sides of the border. Trudeau’s firm stance signals that Canada is prepared to use all available tools, including retaliatory tariffs and other countermeasures, to safeguard its economy against what he calls an “unacceptable” attack on free trade.

Trudeau’s message is clear: while Canada values its historical partnership with the United States, it will not hesitate to defend its industries and consumers from policies that threaten mutual prosperity.

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