Skip to main content

Featured

10 Days Left: What the End of the Gas Tax Holiday Actually Costs You

  By MoneySavings.ca  |  August 28, 2026 The federal gas tax holiday ends in 10 days. Starting September 8, the 10-cent-per-litre federal excise tax on gasoline comes back — and diesel's 4-cent-per-litre tax returns with it. If you've gotten used to cheaper fill-ups since April, here's exactly what changes and what it'll cost you. What the Tax Holiday Actually Did Back in April, Ottawa suspended the federal fuel excise tax on gasoline, diesel, and aviation fuels to cushion Canadians from a spike in global oil prices tied to the Iran conflict. Since April 20, the federal excise rate on gasoline has sat at 0 cents per litre instead of the usual 10 cents. Diesel and aviation fuel taxes dropped to zero from their normal 4-cent rate. Finance Canada pegged the total relief at more than $2.4 billion over the year. That relief window closes September 7 — Labour Day — inclusive. On September 8, rates snap back to their standard levels: 10 cents/litre on gasoline, 4 cents/litre o...
Post a Comment
Read more

article

Labels

Trump Proposes Tariff Reduction Amid Trade Talks with China


In a surprising move, former U.S. President Donald Trump has suggested reducing tariffs on Chinese imports from 145% to 80% ahead of a crucial trade meeting between top U.S. and Chinese officials in Switzerland. This proposal marks a potential shift in the ongoing trade war, which has seen escalating tariffs from both nations.

Trump announced his stance on social media, stating that an 80% tariff "seems right" and urging China to open its markets to American goods. The upcoming discussions, led by U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer, aim to address concerns over the impact of tariffs on consumer prices and global trade stability.

The trade war, which began during Trump's presidency, has significantly affected both economies, with China retaliating against U.S. tariffs by imposing its own restrictions. While Trump had previously resisted lowering tariffs, his latest remarks suggest a willingness to negotiate if the talks yield positive results.

As global markets react to the possibility of reduced trade tensions, analysts are watching closely to see whether this proposal will lead to a meaningful agreement between the two economic giants. The outcome of the weekend talks could shape the future of U.S.-China trade relations and influence broader economic policies worldwide.

Labels:

Comments

Post a Comment