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Sept 15 Tariff Shift: What's Actually Changing on Canadian Goods (And What Isn't)

  Published September 12, 2026 At 12:01 a.m. ET on Tuesday, September 15, a new round of U.S. tariff changes takes effect on Canadian goods. If you've seen headlines calling this a "new 50% tariff on Canadian steel, aluminum and paper," here's the more accurate story: it isn't a new tariff at all. It's the U.S. reshuffling which products fall under a 50% tariff that's already been in place since August 22 — adding some categories, removing others, on the same day. Here's what's actually happening, and why it matters more to Canadian manufacturers and cross-border shoppers than to your everyday grocery bill. The tariff this modifies Back on August 22, 2026, the U.S. imposed a 50% tariff under Section 338 of the Tariff Act of 1930 on roughly $20 billion CAD of Canadian goods. The White House framed it as retaliation for Canadian "discrimination" against U.S. alcoholic beverages, dairy, and motor vehicles — three separate proclamations, eac...
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Hudson’s Bay Lease Deal with Ruby Liu Faces Court Challenge from Frustrated Lenders


                                    Store closing ads at a Hudson's Bay in Toronto. By the time Canada’s oldest retailer ceases to exist in any form, it will no longer be called Hudson’s Bay.               

Hudson’s Bay Company is facing mounting legal pressure as one of its key lenders, Restore Capital LLC, has filed a motion to terminate a controversial lease deal with B.C. billionaire Ruby Liu. The motion, submitted to the Ontario Superior Court, seeks to halt the retailer’s plan to transfer up to 25 store leases to Liu and calls for the appointment of a “super monitor” to oversee the liquidation of the company’s remaining assets.

Restore Capital alleges that Hudson’s Bay has mismanaged the lease transfer process, incurring over **$18 million in unnecessary expenses**, including rent, consultant fees, and signage removal. The lender claims these costs have eroded its collateral and jeopardized any chance of recovery.

While a smaller deal involving three leases at Liu’s own malls was approved earlier, the broader transaction has stalled amid landlord opposition. Major property owners like Cadillac Fairview and Oxford Properties have rejected Liu’s plans, citing a lack of a viable business strategy.

With the court-imposed July 15 deadline looming, Restore argues that Hudson’s Bay’s continued pursuit of the Liu deal is draining resources and delaying resolution. The motion proposes expanding the powers of Alvarez & Marsal, the current court-appointed monitor, or appointing Richter Consulting Inc. as a receiver to expedite the wind-down process.

As the legal battle intensifies, the future of Hudson’s Bay’s remaining assets—and Ruby Liu’s retail ambitions—hangs in the balance.


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