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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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Cross-Border Tax Shake-Up: What It Means for Canadian Investors

A proposed Republican tax change in the United States could significantly impact Canadians who hold U.S.-listed securities. This measure, introduced as a response to what the U.S. perceives as "discriminatory taxes" by foreign nations, including Canada's digital services tax, aims to increase the tax burden on foreign investors. If passed, Canadian investors may face a sudden spike in the taxes owed on their U.S. investments, potentially altering the financial landscape for cross-border portfolios. 

This development underscores the interconnected nature of global financial policies and the importance of staying informed about international tax changes. For Canadian investors, it might be time to reassess strategies and consult financial advisors to navigate these potential shifts.

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