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Tariff Deadline Day: TSX Slips to 2-Week Low as Wall Street Slides and Oil Tops $93

  August 21, 2026 Today's the day: the three-day pause on Washington's 50% tariff threat on a slate of Canadian goods runs out at the end of the trading session, and as of last night nothing was signed. Add in a bond-yield-driven selloff on Wall Street, oil pushing above $93 on Middle East tensions, and gold holding near record highs, and Canadian investors have a lot to watch before the weekend. Today's snapshot: 50% Canada-U.S. tariff pause expires end of day today — no deal signed as of last night TSX closed Thursday at a two-week low as banks fell and gold miners gained Wall Street's worst day in over a week; Dow lost more than 700 points Oil near two-month highs, gold above $4,500/oz, loonie strengthening 🇨🇦 TSX: Two-Week Low as Financials Slide Canada's main index edged down to its lowest closing level since Aug. 6 on Thursday, as steep losses for the Big Five banks offset gains for resource and gold-mining shares. The pullback came even as oil prices rose, ...
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Court Battle Aims to Reopen Parliament Amid Prorogation Crisis

A novel legal challenge has hit the Federal Court as opponents seek to force MPs back to work before Prime Minister Justin Trudeau’s prorogation period ends. Filed by the Calgary-based Justice Centre for Constitutional Freedoms on February 13, 2025, the suit argues that suspending parliamentary business until late March undermines democracy by preventing legislators from addressing urgent issues—including the looming U.S. tariff threat and stalled legislation like the capital gains tax reform.

Critics claim the prorogation was a politically motivated tactic designed to delay accountability during a turbulent period. They assert that Parliament’s essential role—to debate policy and hold the government to account—is compromised when the House sits on hiatus. With the hearing scheduled for later this week, legal experts say the outcome could set an important precedent on the limits of executive power and parliamentary rights.

As Canada navigates political uncertainty amid a leadership transition, the challenge highlights growing calls for transparency and a more robust system of checks and balances.


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