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5 Things to Know Today: Retaliation Tariffs Hit, Oil Spikes on Saudi Strikes

  Tuesday, September 8, 2026 — Your morning rundown of the Canadian financial news that actually affects your wallet. 1. Canada's $27.6B Retaliation Tariffs Take Effect At 12:01 a.m. today, Canada's countermeasures against more than 700 U.S. products came into force, matching Washington's August 22 tariffs dollar-for-dollar. Tariffs on American steel and aluminum double to 50%, while new levies of 15% to 50% now apply to dairy, appliances, agricultural equipment, pulp and paper, and electronics. A $7.5-billion support package is rolling out for affected Canadian businesses. What it means for you: U.S.-made appliances (fridges, freezers, washers, dryers, ranges) now carry a 25% tariff, and cheese, whey, and milk powder imports jump 25%–50%. Shopping for a new appliance or specialty dairy product? Expect price increases to show up at retail over the coming weeks. 2. Oil Surges to ~$99 on Overnight Saudi Strikes Overnight strikes on Saudi energy facilities pushed Brent crude...
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Devastating Earthquake in Myanmar: Death Toll Surpasses 1,000

A powerful 7.7-magnitude earthquake struck Myanmar on March 28, 2025, leaving a trail of destruction and despair in its wake. The quake, centered near Mandalay, the country's second-largest city, has claimed over 1,000 lives, with more than 2,400 injured and many still missing. 

The disaster has caused widespread devastation, toppling buildings, buckling roads, and collapsing bridges. Rescue efforts are ongoing, but the scale of the destruction, coupled with power outages and limited resources, has made the situation dire. Myanmar's ongoing civil conflict has further complicated relief operations, leaving many communities isolated and in desperate need of aid.

Neighboring countries, including India and China, have stepped in to provide humanitarian assistance, sending rescue teams and essential supplies. However, the full extent of the tragedy is still unfolding, and the death toll is expected to rise as rescuers continue to search through the rubble.

This earthquake is one of the deadliest to hit Myanmar in over a century, highlighting the urgent need for international support and disaster preparedness in the region.

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