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5 Things to Know Today: Tariff Deadline, Oil Jump, and a TSX Record — August 14, 2026

  August 14, 2026 It's a five-day countdown to the next U.S. tariff deadline, oil is climbing again, and the TSX just notched its fourth straight record close. Here's what's moving markets and what it means for your wallet today. 1. The Tariff Deadline Is Five Days Away Canada's trade minister Dominic LeBlanc and chief negotiator Janice Charette have been in Washington all week trying to lock in a deal before Wednesday, August 19 — the date the U.S. is set to slap a 50% tariff on nearly $20 billion worth of Canadian goods, from dairy to furniture to building materials. Unlike most other U.S. tariffs, this round wouldn't exempt goods that already qualify under CUSMA. A Canadian government source told Reuters this week that talks are "progressing well" and that Washington also wants a deal before the deadline — but nothing is signed yet, and businesses on both sides of the border are stuck in what one industry group called "watchful waiting." What ...
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Trump Defends Tariffs Amidst Economic Uncertainty



In a recent address to Congress, President Donald Trump defended his tariff strategy, despite acknowledging the potential economic discomfort it may cause. Trump emphasized that the tariffs, which represent the largest increases in a century, are designed to generate significant revenue and rebalance what he perceives as unfair trading relationships. He assured Americans that the economic pain, manifesting as higher prices, would be a "little disturbance" that the nation could overcome.

Trump's speech, which lasted a record-setting 100 minutes, focused on his political strengths, including immigration policies and social issues, while spending relatively little time addressing consumer prices and inflation. He blamed high prices on his predecessor, Joe Biden, and offered few new ideas to lower costs.

The president's approval rating has declined in recent polls, and data shows new strains on the economy, including stagnating factory activity, simmering inflation, and declining consumer confidence. Despite these challenges, Trump remains committed to his tariff strategy, believing it will ultimately benefit the American economy.


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