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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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Canada and China Strike New Trade Deal Linking EVs and Canola

Prime Minister Mark Carney meets with President of China Xi Jinping at the Great Hall of the People in Beijing, China on Friday, Jan. 16, 2026. 

Canada and China have reached a new tariff agreement that ties together two major sectors: electric vehicles and agricultural exports. The deal marks a notable shift in the countries’ economic relationship after years of tension.

Under the arrangement, Canada will permit up to 49,000 Chinese-made electric vehicles to enter the market at the standard tariff rate. In return, China will reduce duties on Canadian canola seed to 15% by March and eliminate tariffs on canola meal, lobsters, crabs, and peas for the remainder of the year.

Canadian officials describe the agreement as a pragmatic step toward stabilizing ties and expanding trade opportunities. The move could reshape Canada’s EV market by introducing more competitively priced Chinese models, while also restoring valuable access for Canadian farmers to one of their most important export destinations.

The deal signals a more interest-driven approach to China and may lay the groundwork for broader cooperation in clean energy, agriculture, and investment.


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