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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 and Republicans Set Ambitious 100-Day Agenda with Focus on Tax Cuts


In a bold move, President-elect Donald Trump and the Republican majority in Congress are gearing up for an ambitious 100-day agenda, with tax cuts taking center stage. The plan aims to renew approximately $4 trillion in expiring GOP tax cuts, a hallmark of Trump's first term. 

House Majority Leader Steve Scalise emphasized the urgency of being prepared from Day 1, as GOP lawmakers have been meeting privately with Trump to outline their strategy. The proposed policies will reignite debates on America's priorities, income inequality, and the size and scope of government, especially given the mounting federal deficits nearing $2 trillion annually.

The tax cuts, initially passed in 2017, have significantly benefited higher-income households, with the top 1% receiving substantial reductions. As Republicans prepare to extend and enhance these cuts, they also plan to lower the corporate tax rate further and eliminate taxes on tips and overtime pay.

This ambitious agenda will test whether Trump and his allies can deliver the outcomes voters expect, having granted them control of both Congress and the White House.


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