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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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Ishiba Steps Down: Japan Faces Political Uncertainty After PM’s Resignation

                                            Japan's Prime Minister Shigeru Ishiba

Japanese Prime Minister Shigeru Ishiba has announced his resignation after less than a year in office, following a string of damaging election defeats that cost his ruling Liberal Democratic Party (LDP) its majority in both houses of parliament.

The 68-year-old leader, who took office in late 2024 promising to tackle rising living costs, faced mounting pressure from within his party after July’s upper house loss compounded earlier setbacks. Public frustration over inflation — including a sharp rise in rice prices — and criticism of his cabinet appointments eroded his support.

Ishiba’s final act as premier was sealing a major trade deal with the United States, securing $550 billion in Japanese investments in exchange for reduced tariffs on auto exports. He said the agreement marked “a key hurdle” and that it was time to “pass the baton to the next generation”.

Potential successors include Sanae Takaichi, a fiscal expansion advocate critical of recent interest rate hikes, and Shinjiro Koizumi, the high-profile farm minister focused on curbing food prices. With the LDP lacking a parliamentary majority, the next leader may face calls for a snap election, adding to the political uncertainty already rattling Japan’s markets.


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