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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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Market Momentum: Futures Rise Amid Tariff Uncertainty

U.S. stock futures showed gains early Monday as investors navigated a mix of optimism and caution. The S&P 500 futures climbed 0.5%, while Nasdaq 100 futures rose 0.8%, and Dow Jones Industrial Average futures edged up 0.4%. This comes after a volatile February, with markets now bracing for key developments this week.

A major focus is the looming tariff deadlines set for March 4, which could impact trade with Canada, Mexico, and China. While 25% duties are planned, officials have hinted at potential adjustments, leaving markets in a "fluid situation." Investors are also eyeing the Federal Reserve's next meeting and Friday's nonfarm payrolls report, which is expected to show modest job growth with unemployment steady at 4%.

Adding to the mix, cryptocurrencies surged after President Trump announced the inclusion of Bitcoin, Ethereum, and other digital assets in a new U.S. strategic cryptocurrency reserve. This move has sparked significant market activity, with Bitcoin briefly surpassing $94,000.

As the week unfolds, retail earnings from companies like Target and Costco will provide further insights into consumer resilience amid economic uncertainties. Markets remain on edge, balancing hopes for growth against the challenges of global trade and economic policy.

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