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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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Trump Issues 10–15 Day Ultimatum to Iran Amid Rising Tensions

                               Ships during the joint Navy exercise of Iran and Russia in southern Iran

U.S. President Donald Trump has warned Iran that it must agree to a nuclear deal within the next 10 to 15 days or face what he described as “bad things,” escalating an already volatile standoff in the Middle East. The warning comes as the United States increases its military presence in the region and Iran signals it will retaliate against any attack.

According to multiple reports, Trump’s ultimatum is tied to renewed efforts to revive nuclear negotiations, which have stalled amid heightened military activity and diplomatic strain. The U.S. has deployed additional naval assets to the Middle East, while Iran has conducted joint drills with Russia and threatened to target American bases if provoked. 

Iranian officials have responded sharply, cautioning that any U.S. strike would make American military installations “legitimate targets.” In letters to the United Nations, Tehran emphasized its commitment to diplomacy but warned of severe consequences should Washington initiate hostilities. 

As the deadline approaches, international observers fear that miscalculation on either side could trigger a broader conflict. The coming days will likely determine whether the two nations move toward negotiation or confrontation.

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