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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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Power Vacuum in Tehran After Reported Death of Iran’s Supreme Leader

 

                        A man holds a portrait of Iran's Supreme Leader Ayatollah Ali Khamenei and the national flag.


A senior Israeli official has stated that Iran’s Supreme Leader, Ayatollah Ali Khamenei, was killed in a series of U.S.–Israeli strikes targeting leadership sites in Tehran. Satellite imagery reportedly shows heavy damage and smoke rising from Khamenei’s compound following the attacks. 

Multiple outlets, including Reuters and Al Arabiya, report that the strikes were part of a coordinated operation aimed at crippling Iran’s top leadership structure. U.S. President Donald Trump publicly confirmed Khamenei’s death, calling him “one of the most evil people in history” and framing the operation as a step toward ending what he described as a long‑standing security threat. 

Iranian state media has since acknowledged Khamenei’s death, announcing a 40‑day mourning period and signaling a moment of profound uncertainty for the country. The 86‑year‑old leader had ruled Iran for more than three decades, shaping its regional strategy and internal political order. 

Israeli sources also claim that several senior Iranian officials were killed in the same wave of strikes, suggesting a broader decapitation effort aimed at reshaping the strategic landscape in the Middle East. 

With confirmation now emerging from both Israeli and Iranian channels, the region faces a potentially volatile transition as Iran prepares for a succession process amid heightened military tensions.


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