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5 Things to Know Today: Oil Surges, Tariffs Land Tomorrow, Your Gas Tax Break Survives

  Monday, September 7, 2026 — Labour Day | Canadian Money Brief Markets are closed for the holiday, but the week ahead is loaded. Here are five things worth knowing before you head back to your desk tomorrow. 1. Oil Hits a Five-Week High as the Iran Conflict Escalates Crude climbed to $92.06 US/barrel on Saturday — up 17.75% over the past month and nearly 48% year over year — after Iran and the United States exchanged missile strikes this week. Israel's defence minister has threatened "crippling" attacks on Iran's energy infrastructure, the EU has formally joined the US-led sanctions campaign, and US Vice President JD Vance said Washington won't hold peace talks until Iran stops targeting ships in the Strait of Hormuz. What it means for you: Even with the federal gas tax break extended (see #4), pump prices track the price of crude itself. If your tank's getting low, filling up early this week may beat whatever the Strait of Hormuz situation does to prices by...

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Trump and Japan’s First Female Prime Minister Seal Strategic Trade and Minerals Pact

President Donald Trump, and Sanae Takaichi during the signing ceremony for a document on the implementation of the US Japan trade deal at Akasaka Palace state guest house in Tokyo.

In a landmark meeting in Tokyo, U.S. President Donald Trump praised Japan’s first female prime minister, Sanae Takaichi, calling her a “great leader” as the two nations deepened their economic and security ties. The summit, held at the Akasaka Palace on October 28, 2025, focused on trade agreements and securing critical minerals, a sector vital for advanced technologies and defense industries.

Takaichi, who assumed office just a week earlier, pledged to accelerate Japan’s military buildup while reinforcing the U.S.-Japan alliance. She is a close ally of the late Shinzo Abe, Trump’s longtime friend, and invoked his legacy during the talks. In a symbolic gesture of goodwill, Takaichi also announced her intention to nominate Trump for the Nobel Peace Prize, according to White House officials.

The agreements signed include measures to strengthen supply chains for rare earths and critical minerals, reducing reliance on China’s market dominance. Japan also committed to a $550 billion investment package that will expand cooperation in shipbuilding, energy, and increased purchases of U.S. soybeans, natural gas, and pickup trucks.

Trump hailed the deals as a “new golden age” for the U.S.-Japan partnership, emphasizing that Washington would stand firmly by Tokyo in both economic and security matters. The meeting underscored the strategic importance of rare earths—essential for semiconductors, renewable energy, and defense systems—at a time of heightened global competition.

For Takaichi, the summit marked a powerful debut on the world stage, positioning her as a leader intent on strengthening Japan’s role in global security and trade. For Trump, it was another opportunity to showcase his administration’s push for resilient supply chains and closer ties with key allies in Asia.

This historic meeting not only highlighted the first female leadership in Japan’s history but also signaled a renewed era of cooperation between two of the world’s largest economies.

In short: Trump and Takaichi’s summit produced major trade and minerals agreements, reinforced military cooperation, and symbolized a new chapter in U.S.-Japan relations.


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