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5 Things to Know Today — Oil Diplomacy, TSX Rally, Carney at UNGA, Bond Yields, Canada's AI Gap (Sept. 23, 2026)

  Wednesday, September 23, 2026  |  MoneySavings.ca Oil is pulling back. The TSX is rebounding. Carney is talking deals in New York. And two under-the-radar stories — bond yields creeping up and a warning about Canada's AI ambitions — could quietly reshape your finances. Here's what matters today. 01 of 05 Oil Drops Below $92 as US–Iran Talks Begin at the UN WTI crude pulled back toward $90 per barrel Wednesday — its lowest level since early September — as diplomacy replaced missiles at the United Nations General Assembly in New York. US envoys Jared Kushner and Steve Witkoff spent three hours in shuttle talks with Iranian officials on the UNGA sidelines, just hours after President Trump threatened Iran with "annihilation" in his address to the General Assembly. Iran had offered to reopen the Strait of Hormuz within seven days if the US agreed to ease its naval blockade. Brent settled down roughly 3–4%, snapping five days of decline but still elevated from pre-conflic...

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Trump Urges Supreme Court to Reinstate Sweeping Tariffs After Appeals Court Setback

 

                                            U.S. President Donald Trump


Former President Donald Trump’s administration has formally petitioned the U.S. Supreme Court to overturn a federal appeals court ruling that struck down most of his signature tariffs as unlawful under the International Emergency Economic Powers Act (IEEPA).

The Justice Department’s appeal follows an August 29 decision by the U.S. Court of Appeals for the Federal Circuit, which found that Trump exceeded his authority by using the 1977 emergency powers law to impose broad import levies on countries including China, Canada, and Mexico. The court ruled 7–4 that Congress retains the constitutional power to set tariffs, and that IEEPA was never intended to grant presidents unlimited authority in this area.

While the tariffs remain in place pending review, the administration has asked the Supreme Court to fast-track the case, proposing oral arguments in early November. Trump has warned that removing the tariffs could trigger what he calls an “economic catastrophe,” jeopardizing trade negotiations and potentially forcing the U.S. to refund billions collected from importers.

The case stems from challenges brought by small businesses and a coalition of 12 states, which argue the tariffs have hurt commerce, raised consumer prices, and strained relations with key trading partners. A ruling from the Supreme Court could have sweeping implications for presidential trade powers and the future of U.S. tariff policy.


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