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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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Tensions Escalate: Israel Strikes Lebanon Following Rocket Attacks

In a significant escalation of regional tensions, Israel launched airstrikes on southern Lebanon early Saturday in retaliation for rockets fired into northern Israel. The Israeli military reported intercepting three rockets targeting the town of Metula, marking the first such attack since a fragile ceasefire agreement was reached in November.

The Israeli government has held Lebanon accountable for the incident, with Prime Minister Benjamin Netanyahu instructing the military to act decisively against "dozens of terror targets" in Lebanon. The strikes reportedly targeted Hezbollah positions, though the group has denied involvement in the rocket launches, describing them as "primitive".

Lebanon's Prime Minister Nawaf Salam has urged the military to prevent further escalation, emphasizing the country's desire to avoid a return to war. Meanwhile, the United Nations Interim Force in Lebanon expressed alarm over the violence, warning of the potential for serious regional consequences.

This exchange of fire underscores the fragility of the ceasefire and the ongoing challenges in maintaining stability along the Israel-Lebanon border. Both nations face mounting pressure to uphold their commitments under the truce, as the international community watches closely.

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