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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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Air Transat Grounds Flights as Pilot Strike Looms, Focuses on Repatriating Passengers

 

An Air Transat plane is seen as an Air Canada plane lands at Pierre Elliott Trudeau International Airport in Montreal on Thursday, May 16, 2019.

Air Transat has begun suspending flights and arranging special services to bring customers home as contract negotiations with its pilots remain unresolved. The move comes after the Air Line Pilots Association (ALPA), representing 750 pilots, issued a 72-hour strike notice, raising the possibility of a work stoppage as early as December 10, 2025.

The Montreal-based leisure airline, which typically operates more than 500 weekly flights to destinations in the Caribbean, Mexico, and Europe, announced that it would gradually wind down operations between December 8 and 9. To prevent passengers from being stranded abroad, the company scheduled additional repatriation flights ahead of the strike deadline.

Negotiations between Air Transat and the union have been ongoing since last winter, but no agreement has been reached. Pilots are seeking a “modern contract” with industry-standard pay, benefits, and job security, replacing the decade-old collective agreement signed in 2015. While the airline has stated that “progress” was made in recent talks, both sides remain at an impasse.

Air Transat emphasized that its priority is to minimize disruption for customers, offering flexibility and refunds for affected travelers. The company also noted that it is working “around the clock” to reach a deal and avoid a full shutdown.

For now, passengers face uncertainty as the strike deadline approaches. The outcome of negotiations will determine whether Air Transat can resume normal operations or if the suspension will extend further into the busy holiday travel season.

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