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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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Small Businesses in Canada Face Bankruptcy Risk Amidst Pandemic-Era Support Withdrawal

 


According to a recent report, thousands of small businesses in Canada are at risk of bankruptcy after the government ended pandemic-era support last month with the economy slowing at a time of high interest rates. 

Small firms that employ fewer than 100 people are critical to the Canadian economy as they give jobs to almost two-thirds of the country’s 12 million private workers. A spike in bankruptcies, which jumped 38% in the first 11 months of 2023, would weigh on economic growth, lobby groups and economists warn. 

Last month, small businesses faced a deadline to repay interest-free loans of C$60,000 ($44,676) made available to each of them during the pandemic. Of the 900,000 who had taken the government support, a fifth have not yet repaid their loans, Finance Minister Chrystia Freeland said on Monday. Katherine Cuplinskas, a spokesperson for the Finance Minister said in an emailed response that the Department of Finance did not expect there will be a negative impact on the economy on account of repayment of the loans given as support during the pandemic. She said loan recipients have long had full information on timelines and have been able to plan accordingly.


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