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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 on Edge as Futures Slide Amid Tariff Threats and Bond Turmoil

 

U.S. stock futures slumped early Tuesday, setting the stage for a jittery trading session as investors reacted to a mix of political tension and global market stress. Contracts tied to the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 all pointed sharply lower, reflecting a broad pullback in risk appetite.

The drop followed fresh tariff threats from President Donald Trump, who signaled he may impose new duties on several trading partners. The possibility of escalating trade friction rattled investors already uneasy about the economic outlook.

Adding to the pressure, a global bond sell-off—sparked in part by rising yields in Japan—sent shockwaves through financial markets. Higher yields tend to weigh on equities, and the sudden shift left traders reassessing risk across the board.

The combination of geopolitical uncertainty, rising borrowing costs, and lingering concerns about corporate earnings has created a tense backdrop for markets. With key economic data and central bank decisions on the horizon, investors appear braced for more volatility.


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