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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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Gift Card Scams: How to Spot and Avoid Them


Gift card scams are devious schemes that can catch anyone off guard. Scammers employ various tactics to trick victims into buying gift cards, which they then promptly redeem. Here’s how to recognize and prevent these scams:

  1. Pressure Tactics: Scammers often pressure victims into purchasing gift cards. They might impersonate government officials, family members, or even romantic interests. Be wary of unsolicited phone calls, texts, emails, or social media messages demanding gift card payments.

  2. Why Gift Cards?: Scammers prefer gift cards because they are anonymous, irreversible, and yield immediate results. Unlike credit card charges, gift card transactions cannot be canceled. Once the funds are gone, they’re gone for good.

  3. Common Scam Types:

    • Money Collection Scams: Fake IRS or utility company employees claim you owe them money and threaten arrest or service cutoff unless you pay with gift cards.
    • Phishing Scams: Scammers impersonate legitimate entities (like Apple or Steam) and ask for gift card numbers.
    • Physical Store Scams: Scammers may target victims inside brick-and-mortar stores.
    • Digital Markets: Big companies’ gift cards (Amazon, Target, eBay) and digital platforms (Steam, Google Play) are vulnerable.
    • Vanilla Gift Cards: Scammers love VISA vanilla gift cards because they’re valid everywhere.

  4. Stay Safe:

    • Spot Check: Verify the source of unsolicited emails or messages before responding.
    • Don’t Send: Legitimate entities won’t demand immediate payment via gift cards.

Remember, vigilance is key. Protect yourself by staying informed and avoiding suspicious requests for gift card payments. If you suspect a scam, report it promptly.


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