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5 Things to Know Today: US Import Ban, Oil Tops $100, TSX Slides, ECB Hikes

  September 10, 2026 A big trade-war escalation, a return of $100 oil, a wobbly TSX, and a central bank on the move overseas — here's what's moving markets and your wallet this morning. 1. Washington Bans Canadian Alcohol, Dairy Ingredients and Motorcycles The trade war jumped up another notch Tuesday night. The White House issued executive orders banning imports of most Canadian alcoholic beverages — beer, wine, whisky, vodka, rum, tequila and more — along with whey protein, molasses and non-alcoholic beer, plus Canadian-made motorcycles. The bans take effect September 29. Several cheese products were added to the existing 50% tariff list rather than banned outright, and Trump's threat to raise auto tariffs from 25% to 50% on January 1 remains on the table. The move follows Canada's own $27.6-billion retaliation tariffs, which took effect at midnight Tuesday. Trade Minister Dominic LeBlanc called the U.S. measures "unjustified." What it means for you: This m...
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Canada Strikes Back with $29.8 Billion in Tariffs on U.S. Goods

 

In a bold move to counter U.S. tariffs on Canadian steel and aluminum, Canada has announced retaliatory tariffs worth $29.8 billion. The new measures, set to take effect on March 13, 2025, will impose a 25% tariff on a range of U.S. imports, including steel, aluminum, computers, sports equipment, and cast-iron products.

Canadian Finance Minister Dominic LeBlanc emphasized the importance of protecting Canada's industries, stating that these tariffs are a direct response to the U.S.'s "unjustified" actions. The Canadian government has also introduced measures to support affected workers and businesses, including financial aid and trade programs.

This development marks a significant escalation in trade tensions between the two nations, with both sides standing firm on their positions. The impact of these tariffs is expected to ripple through industries on both sides of the border, potentially affecting prices and supply chains.

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