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5 Things to Know Today: Tariff Deal Terms, a Gold Miner Rally, and a Stronger Loonie

  Thursday, August 20, 2026 Here's what's moving Canadian wallets today — from the fine print on the tariff pause to a gold-stock rally, a stronger loonie, and how much runway is left on the gas tax break. 1. The tariff deal is taking shape — but the clock is still running Tuesday's three-day pause on the threatened 50% U.S. tariffs expires at the end of day tomorrow, Friday, August 21. Details reported by people familiar with the talks point to steel and aluminum tariffs dropping to 25% (from 50%) and auto tariffs falling to 15% (from 25%), with Canada opening more dairy market access to U.S. farmers and dropping retaliatory measures in return. Nothing is signed yet — Prime Minister Mark Carney's office says "important work" remains before the paperwork is final. What it means for you: If these terms hold, tariffs land well below the threatened 50% — but still meaningfully above where things stood before 2025. Auto-sector jobs and grocery-aisle prices (espec...
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Tragedy Strikes Iranian Port: Explosion Leaves Hundreds Injured

A devastating explosion rocked the Shahid Rajaei port near Bandar Abbas, Iran, on April 26, 2025, claiming the lives of 14 individuals and injuring over 700 others. The blast, reportedly linked to a shipment of sodium perchlorate rocket fuel, caused widespread destruction and raised concerns about safety protocols at the port.

The explosion occurred as Iran and the United States engaged in nuclear negotiations in Oman, adding a layer of geopolitical tension to the tragedy. Social media footage captured the aftermath, showing thick black smoke billowing from the site and shattered windows miles away. Authorities have yet to confirm the exact cause, but improper handling of hazardous materials is suspected.

Efforts to extinguish the fire continued into the night, with helicopters dumping water on the blaze. The incident has drawn comparisons to the Beirut port explosion in 2020, highlighting the risks of storing volatile chemicals in densely populated areas.

This tragedy underscores the urgent need for stringent safety measures and international cooperation to prevent similar disasters in the future.

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