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TSX Eyes Gains as Trump-Xi Summit Looms and Oil Steadies Near $95

Canadian Money Brief · Monday, May 11, 2026 Canadian equities are set for a cautious but constructive open this Monday as investors balance a packed macro calendar against an energy sector still reeling from one of its most volatile weeks in recent memory. TSX at a Glance The S&P/TSX Composite closed Friday at 34,077.76 , up 221 points (+0.65%) to cap a week dominated by whipsaw oil moves and a fragile Middle East ceasefire. The energy sector has led TSX gains over the past seven days — up roughly 5% — even as WTI crude fell about 7% on the week, settling near $95.42 per barrel . That apparent contradiction reflects Canadian producers' longer-term optimism on supply tightness rather than any single day's price swing. For the year, the TSX is up approximately 35%, outpacing most major global benchmarks. The Big Story: Trump Heads to Beijing All eyes this week will be on Washington and Beijing. President Donald Trump is scheduled to arrive in China on Wednesday , with formal ...

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Canada’s Counter-Tariff Play: Targeting American Consumer Essentials

In response to U.S. tariffs, the Canadian government has unveiled a counter-tariff strategy aimed squarely at a broad spectrum of American consumer goods. The measures, set to take effect in two phases beginning Tuesday, target products that are both highly popular in the United States and strategically chosen to minimize the domestic impact in Canada.

Among the first wave of goods to be hit are items from the food and beverage category. American beer, wine, and bourbon are on the list, as are fruits and fruit juices—including specialty items such as orange juice from key U.S. producing states. In addition to these, Canada’s counter-tariffs extend to everyday consumer staples like clothing and footwear, along with accessories and undergarments. Household items are also in the crosshairs; retailers should expect tariffs on appliances, furniture, and a range of home wares.

Other categories include automotive parts and motorcycles, reflecting a broader approach that touches on recreational goods and transport components. Even products such as tobacco, lumber, and paper are being targeted, underlining the comprehensive nature of the retaliatory measures. According to senior government officials, the selected items are expected to hit key sectors of the American economy, serving as a clear signal that the counter-tariff strategy is designed not only to retaliate but also to press for a resolution of the ongoing trade dispute citeturn0search6; citeturn0search1.

This move marks another chapter in the evolving trade tensions between Canada and the United States. While the full list of targeted products will expand in the coming weeks, these early steps highlight Canada’s intention to use its tariff tools strategically—aiming to affect sectors where American consumers are likely to feel the pinch while ensuring that Canadian industries, with available domestic alternatives, remain largely insulated.

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