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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 Edge Up Despite Sticky Inflation and Rising Jobless Claims

U.S. stock futures inched higher Thursday morning as investors digested fresh economic data showing inflation remained stubborn in August while jobless claims surged to their highest level in nearly four years.

Futures tied to the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 each gained around 0.2%, extending momentum from Wednesday’s record-setting session. The August Consumer Price Index rose 2.9% year-over-year, up from 2.7% in July, with a 0.4% monthly increase—slightly above forecasts. The uptick, partly attributed to the impact of President Trump’s tariffs, has not dampened expectations for a Federal Reserve rate cut next week, with markets pricing in a near-95% chance of a quarter-point reduction.

However, the labor market showed signs of strain, as weekly jobless claims jumped to 263,000, signaling potential headwinds for economic growth. On the corporate front, Kroger shares rose after the retailer beat earnings estimates and raised its full-year guidance, while Adobe is set to report later in the day.

Investors now face a delicate balancing act—welcoming potential rate relief while weighing the risks of a slowing economy.


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