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Trump's 50% Auto Tariff Threat: What It Means If You're Buying a Car in 2027

  Vehicle prices in Canada are already up thousands of dollars since the trade war began. A threatened doubling of auto tariffs on January 1, 2027 could push them higher still — here's what's confirmed, what's not, and what it means if you're in the market for a car. On Monday, U.S. President Donald Trump posted on Truth Social that tariffs on all Canadian-made cars, trucks, auto parts, and steel would rise to 50% starting January 1, 2027 — effectively doubling the current 25% rate. The threat landed hours after cross-border trade talks collapsed late Friday night, triggering a separate round of 50% tariffs on roughly $20 billion of other Canadian goods and a promised Canadian retaliation package set for September 8. For anyone shopping for a new or used vehicle in Ontario — or watching an auto-sector paycheque — here's what's actually changed, and what's still just a threat. What Trump actually announced The post is specific on rate and date but light on me...
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5 Things to Know Today: Trump Threatens New Auto Tariffs as Gold Hits a Record

 

August 25, 2026

Here's what's moving markets and your wallet today — from a fresh tariff threat on the auto sector to gold's latest record and a countdown you'll want on your calendar.

1. Trump Threatens to Raise Canadian Auto Tariffs to 50%

President Trump said on social media Monday that he plans to raise tariffs on Canadian autos, parts, and steel to 50% starting January 1, 2027, warning that "Canada will be treated like a State no longer." The threat rattled auto-sector stocks, with Magna, BRP, and Linamar all trading lower Monday even as the broader TSX closed at a fresh record of 36,714.12.

What it means for you: This lands on top of the 50% tariffs that already took effect August 22 and the Sept. 8 retaliation tariffs Ottawa is preparing. If you work in or near the auto sector — especially in Windsor, Oshawa, or Brampton — this is a threat worth watching closely over the next few months, not an immediate price change.

2. Gold Just Hit a Fresh Record Above $4,700

Gold touched a new record Tuesday, with the December futures contract at $4,697.80 and spot prices briefly topping $4,700 an ounce, as investors keep piling into safe havens amid the trade and geopolitical uncertainty.

What it means for you: If you hold gold ETFs or mining stocks inside a TFSA or RRSP, this run has been a real tailwind. But records can reverse quickly — this isn't the moment to chase gold with money you'll need soon.

3. The Loonie Slipped on the New Tariff Threat

The Canadian dollar eased to roughly 72.24-72.27 US cents (about 1.383-1.385 USD/CAD) Monday, down from Friday's 72.67 cents, as the fresh tariff threat weighed on the currency after weeks near multi-month highs.

What it means for you: If you're planning US travel or online shopping in USD, this pullback makes it slightly more expensive than it was last week. It's a small move so far — worth watching, not panicking over.

4. Big Bank Earnings Week Kicks Off

BMO and Scotiabank report Tuesday, followed by National Bank Wednesday and CIBC, RBC, and TD Thursday. Bank earnings often include forward guidance on mortgage demand, loan-loss provisions, and consumer credit stress — all signals worth watching given this week's Equifax data on Canadians struggling with minimum credit card payments.

What it means for you: If you're renewing a mortgage or carrying a balance, bank commentary this week can hint at where lending conditions are headed into the Sept. 2 Bank of Canada decision.

5. Gas Tax Holiday's Clock Is Down to 13 Days

The federal gas tax holiday expires September 7, and with 13 days left, pump prices are expected to tick back up shortly after Labour Day as the tax is reinstated.

What it means for you: If you've got a road trip or a big fill-up coming, doing it before September 7 could save you a few dollars a tank. It's not a huge amount, but it adds up if you're driving a lot this month.

This is part of our daily Canadian Money Brief series, tracking the financial news that actually affects your wallet. Check back tomorrow for the next update.

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