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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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Canada’s Youth Grapple with AI Disruption and Vanishing Entry-Level Jobs

                                   A record 54,000 people signed up for a summer job fair held in Toronto this July.

Young Canadians are facing their toughest job market in over a decade, with unemployment among 15- to 24-year-olds climbing to levels typically seen only during recessions. A surge of more than 5.5 percentage points since mid-2022 has pushed the youth jobless rate to 14.6% — the highest since 2010 outside of the pandemic years.

Reports from Indeed Canada and CIBC Economics point to a troubling convergence of factors: shrinking availability of junior roles, increased competition from international students and non-permanent residents, and the rapid adoption of automation and AI in sectors traditionally employing young workers. Industries like retail, business support services, and even parts of the tech sector are increasingly replacing entry-level positions with self-checkouts, AI tools, and other labour-saving technologies.

Economists note that while population growth pressures may ease, the technological shift could have lasting effects on early career opportunities. Past waves of innovation eventually created new roles, but for now, many young Canadians are struggling to find the foothold they need to start their careers.

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