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5 Things to Know Today: Retaliation Tariffs Set for Sept. 8

  Sunday, August 23, 2026 — Here's what's moving Canadian wallets today, from Ottawa's retaliation date to a fresh record for gold. 1. Canada's retaliation tariffs now have a date: Sept. 8 Prime Minister Mark Carney confirmed Saturday that Canada's "dollar for dollar" response to the new U.S. 50% tariffs will take effect Tuesday, September 8 — the day after Labour Day. Six sectors are named so far: steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics. Ottawa hasn't released the exact tariff rate or the product list yet, saying more details — including a promised support package for affected workers and businesses — are coming "in the coming days." What it means for you: If you buy imported appliances or electronics, or shop U.S. grocery brands in the newly named categories, price watch starts now — but nothing changes at the till until Sept. 8 at the earliest. 2. Markets face their first real test Monday Friday...
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Wall Street Futures Slip Amid Escalating Middle East Tensions

U.S. stock index futures edged lower on Tuesday as the ongoing conflict between Israel and Iran continued to weigh on investor sentiment. The airstrikes and military escalations, now in their fifth day, have raised concerns about disruptions to oil exports from the Middle East, pushing crude prices higher.  

Energy stocks saw gains in premarket trading, with Chevron and Exxon rising nearly 1% each, as oil prices remained elevated due to uncertainty in the region. Meanwhile, broader market indices struggled, with Dow E-minis down 269 points (0.63%), S&P 500 E-minis falling 37.25 points (0.62%), and Nasdaq 100 E-minis dropping 138.5 points (0.63%).  

Investors are also closely watching the Federal Reserve’s upcoming policy meeting, scheduled for Wednesday. The central bank is widely expected to keep interest rates unchanged, but traders are pricing in potential rate cuts later in the year.  

As geopolitical tensions persist, market participants are shifting toward safe-haven assets, with U.S. Treasury yields dipping across the curve. The uncertainty surrounding the Middle East conflict and its potential economic impact continues to drive volatility in global financial markets.

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