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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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Canada Loses Appeal of FIFA Penalty in Olympic Drone Spying Scandal

 


In a significant setback for Canadian soccer, the Court of Arbitration for Sport (CAS) has dismissed Canada’s appeal against a six-point deduction imposed by FIFA. This penalty stems from a drone-spying scandal during the Olympic women’s soccer tournament in Paris 2024.

The controversy began when New Zealand lodged a complaint, alleging that Canadian staff used drones to spy on their training sessions before their opening match. Following an investigation, FIFA docked Canada six points and imposed one-year bans on head coach Bev Priestman and officials Joseph Lombardi and Jasmine Mander.

Despite winning both of their games, the point deduction leaves Canada with zero points in the standings. The CAS ruling, delivered just hours before Canada’s crucial match against Colombia, means the team faces an uphill battle to advance to the quarterfinals.

The Canadian Olympic Committee and Canada Soccer argued that the penalty was disproportionate and unfairly punished the athletes, who were not involved in the alleged cheating. However, the CAS upheld FIFA’s decision, emphasizing the importance of maintaining the integrity of the sport.

This ruling has significant implications for Canada’s chances in the tournament and underscores the serious consequences of violating fair play principles in international sports.


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