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5 Things to Know Today: Inflation Data, a Tariff Countdown, and a Big Energy Deal

  August 17, 2026 Inflation data lands this morning, the clock on the U.S. tariff deadline is down to two days, and a long-running provincial energy dispute is about to be settled. Here's what's moving your money today. 1. Today's Inflation Report Could Set the Tone for September Statistics Canada releases July's Consumer Price Index this morning. Economists are expecting the annual rate to tick up to roughly 2.9%, from 2.8% in June, mainly because gasoline prices swung higher again in July after the Middle East conflict pushed oil prices back up. Core inflation measures, which the Bank of Canada watches most closely, aren't expected to move much. What it means for you: A hotter-than-expected print would make it less likely the Bank of Canada cuts rates at its September 2 meeting, which matters if you're renewing a variable-rate mortgage or carrying a line of credit. A softer number keeps a cut on the table. 2. The Tariff Deadline Is Two Days Away, and Talks Are...
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Trade War Escalates: China Strikes Back at U.S. Tariffs

China has retaliated against U.S. President Donald Trump's decision to increase tariffs on Chinese goods to 145%, raising its own tariffs on American imports to 125%. This tit-for-tat escalation has intensified the trade war between the world's two largest economies, sending shockwaves through global markets.

The turmoil has left foreign leaders grappling with the disruption to international trade and supply chains. Stocks have plummeted, the dollar has weakened, and U.S. government bonds have faced a sell-off. Gold, often seen as a safe haven during economic uncertainty, has reached record highs.

While Trump expressed hope for a deal with China, the uncertainty has fueled fears of a global recession. China's Finance Ministry has condemned the U.S. tariffs as "unilateral bullying and coercion," signaling that Beijing is prepared to fight to the end.

The escalating trade conflict underscores the fragility of the global economy and the challenges of navigating such high-stakes negotiations. What do you think about this unfolding drama?

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