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Carney's Retaliation List: What It Could Mean for Your Grocery Bill

  Published August 22, 2026 · Canadian Money Brief The 50% U.S. tariffs on roughly $28 billion of Canadian goods are no longer a threat — they took effect at 12:01 a.m. Saturday after last-minute talks between Ottawa and Washington collapsed Friday night. Prime Minister Mark Carney responded by suspending negotiations entirely and promising to hit back "dollar for dollar." Unlike the tariff deadline itself, this part isn't happening tonight: Carney says Canada's countermeasures won't take effect until September 8 , and the exact product list is still being finalized. That two-and-a-half week gap matters for your wallet. It's a window where the general shape of the retaliation is known, but the fine print — the specific products, the exact surtax rates, which exemptions get carved out — is still being written in Ottawa. Here's what's confirmed, what history tells us to expect, and how to think about the impact on your own spending. What's confirmed ...
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Trump Reiterates 100% Tariffs Threat to Dissuade BRICS Nations from Replacing U.S. Dollar

In a recent statement on Truth Social, President Donald Trump renewed his threat to impose 100% tariffs on BRICS nations if they attempt to replace the U.S. dollar as the global reserve currency. The BRICS alliance, which includes Brazil, Russia, India, China, and South Africa, along with newer members such as Egypt, Ethiopia, Iran, and the United Arab Emirates, has been exploring alternatives to the U.S. dollar in international trade.

Trump's warning comes amid growing frustration among BRICS nations over America's control of the global financial system. He demanded a firm commitment from these countries to cease any attempts to create a new currency or back existing currencies in competition with the U.S. dollar. Failure to comply, he warned, would result in severe consequences, including the imposition of 100% tariffs on goods imported from these countries and the end of their access to the U.S. market.

The U.S. dollar remains the dominant currency in global trade, but members of the BRICS alliance argue that America's control over the financial system is increasingly problematic. Russian President Vladimir Putin has accused the U.S. of "weaponizing" the dollar and has expressed the need for alternatives. The BRICS alliance, established in 2009, aims to challenge the world order dominated by the United States and its Western allies.

Trump's renewed threat underscores the ongoing tensions between the U.S. and the BRICS nations as they seek to assert their economic independence and reduce reliance on the U.S. dollar.


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