2026-08-25
Which U.S. imports will be tariffed?
On Tuesday, government officials told reporters that the list of tariffed items were designed to match the U.S. levies on Canadian products, with “individual product rates based on matching the U.S. rate for the same goods.”
For example, tariffs on steel and aluminum imports from the U.S. will now go from 25 to 50 per cent, as will tariffs on furniture and clothing.
Other notable items being tariffed at 50 per cent include:
Perfumes and makeup
Smartphones
Milk products
Tableware and kitchenware
Plywood products
Paper products
Honey, molasses and malt extract
Doors, windows and frames
Cutlery
The list of products being hit with 25 per cent tariffs include:
A variety of seafood products
Large kitchen appliances
Cheese and curd products
Carpets and textiles
Air conditioning machines, meanwhile, are among the shorter list of products being slapped with a 15 per cent tariff.
Asked by reporters if the tariffed products are targeting specific U.S. states, government officials speaking on background ahead of the announcement said the list came from consultation with stakeholders with the “primary objective” of protecting the “domestic market share for Canadian companies.”
The officials also insisted that the “objective is not to raise revenue,” but to protect the Canadian market.
And, asked about the estimated cost of retaliatory tariffs to Canadian consumers and businesses, officials didn’t give a specific number, saying only the intention was to develop a list that would mitigate negative impacts.
Joly, meanwhile, told reporters at Tuesday’s announcement that Canada’s measures are designed to target specific states.
“We’re also targeting products that will target states in the U.S.,” she said. “And so we’re being wise and strategic to put political pressure, and that’s why we think it’s the right thing to do right now, and that’s why I think (Champagne’s) approach is just the perfect one.”
During a question-and-answer period following Tuesday’s announcement, when asked why Canada’s countermeasures do not include retaliatory tariffs on energy or potash, which are vital to the U.S., Champagne said the goal is a “strategic” and “proportionate” response.
He added it’s about “levelling the playing field” for Canadian businesses by providing support in concert with counter-tariffs.
Source: https://www.bnnbloomberg.ca/tariffs/2026/08/25/from-makeup-to-smartphones-to-kitchen-appliances-canada-outlines-us-counter-tariffs/
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2026-08-18
[Bnn Bloomberg Canada]:
Updated: August 18, 2026 at 8:18a.m. E
'Our job is not yet done': Minister LeBlanc on state of Canada-U.S. trade negotiations
Prime Minister Mark Carney spoke over the phone with Donald Trump on Monday afternoon ahead of the U.S. president’s tariff deadline.
While CTV News has confirmed the conversation took place, the Prime Minister’s Office would not provide further details, other than that the conversation was about “the ongoing trade negotiations.”
Thanks to an executive order from Trump, punishing 50 per cent tariffs are set to go into effect just after midnight on Wednesday, Aug. 19. Targeting US$20 billion worth of Canadian products, the tariffs would apply to a range of goods, including cement and hockey sticks.
Prime Minister Mr Mark Carney and President Donald Trump speak at a working luncheon during the G7 summit in Evian-les-Bains, France, on Tuesday, June 16, 2026. THE CANADIAN PRESS/Christopher Katsarov
‘Our job is not yet done’
On Monday, Carney described ongoing trade negotiations with the U.S. as “very intense and delicate.” Speaking in French, he added that Ottawa has plans to “cover all eventualities” if the new round of sweeping tariffs is imposed.
Canada-U.S. Trade Minister Dominic LeBlanc and chief trade negotiator Janice Charette also met with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick in Washington on Monday.
“We’re going to continue working,” LeBlanc said after meetings on Monday. “Our job is not yet done.”
Canada-U.S. Trade Minister Dominic LeBlanc makes brief comments to reporters outside the U.S. Department of Commerce following a meeting with United States Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick, in Washington, D.C., on Monday, Aug. 17, 2026. THE CANADIAN PRESS/Kelly Geraldine Malone
When announcing the latest tariffs, Trump claimed that Canada continues to discriminate against U.S. exports like autos, alcohol and cheese. Canada and China were also the only countries to impose retaliatory tariffs in the wake of U.S. levies last year.
“If a country retaliates against us, we’re obviously not going to tolerate that,” Greer told reporters on Friday in Iowa. “We’ll take action. My sense is the Canadians, they want to have a more conciliatory approach, but we’ll see.”
‘Tariffs would damage both economies’
The latest round of tariffs also comes as the U.S. renegotiates CUSMA, its continental trade pact with Canada and Mexico.
In a statement on Tuesday, the U.S. Chamber of Commerce urged Canada and the United States to reach a deal that avoids new tariffs.
“As we approach this week’s deadline of potential new tariffs on Canadian goods, we encourage U.S. and Canadian officials to continue to engage in constructive dialogue designed to address areas of concern in the current trade relationship and to avoid the imposition of new tariffs,” U.S. Chamber of Commerce senior vice-president for the Americas Neil Herrington said.
“The introduction of higher tariffs would damage both economies, drive up costs for U.S. families, further disrupt critical supply chains, and risk the 13 million American jobs that depend on trade under the U.S.-Mexico-Canada Trade Agreement.”
With files from The Canadian Press and The Associated Press
Source: https://www.bnnbloomberg.ca/tariffs/2026/08/18/trump-takes-carneys-phone-call-as-tariff-deadline-approaches/
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2026-08-10
[Bnn Bloomberg Canada]: Eric Nuttall’s Top Picks for Aug. 10, 2026
Eric Nuttall, partner and senior portfolio manager at Ninepoint Partners, shares his outlook on Energy Stocks.
Eric Nuttall, Partner and Senior Portfolio Manager, Ninepoint Partners
Top Picks: Cenovus, Strathcona, Ovintiv
MARKET OUTLOOK:
The worst energy crisis of our lifetimes persists and the safety buffers that we once had at the beginning of the crisis are being quickly exhausted.
Our guiding belief is that Iran will never voluntarily relinquish control of the Strait of Hormuz and is intentionally waiting Trump out given the Islamic Revolutionary Guard Corps (IRGC) does not have an electoral cycle to worry about.
As a result, inbound oil vessel traffic remains muted, Middle Eastern production remains curtailed by approximately seven million barrels per day, global inventories are being drawn down at a record pace, and Strategic Petroleum Reserves are approaching minimum operating levels.
Despite the absolutely unbelievable complacency in the market, we remain in a very dangerous position, with crack spreads near record highs, and the inevitable spike that we have had in refined products like diesel and jet fuel to soon occur in crude oil if the status quo persists.
The buy thesis for energy stocks is not a geopolitically induced price spike, but instead in “the day after” what the world looks like when the situation eventually resolves itself or workarounds to the Strait of Hormuz are concluded in the years ahead.
In short, we think the floor price for oil is higher than pre-war by at least US$10 per barrel, leading to further meaningful upside in energy stocks.
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2026-08-07
[Bnn Bloomberg Canada]: Why investing in a second property is a bad retirement plan: Dale Jackson
Published: August 07, 2026 at 8:02AM EDT
The CN Tower can be seen behind condos in Toronto's Liberty Village community in Toronto on Tuesday, April 25, 2017. THE CANADIAN PRESS/Cole Burston
The Greater Toronto Area is leading a nationwide collapse in condominium prices.
According to the real estate board, condo prices have plunged by over 25 per cent since they peaked in 2022.
It’s a setback for big developers who can absorb the loss, but it has been devastating for mom and pop landlords who staked their retirements on the high rents and price increases from past decades.
It’s often the same story, to a lesser degree, for Canadians who put their retirement hopes in other rental properties such as cottages when they could have generated steady, solid, returns from a wide world of other investment opportunities.
What happened?
The primary reason is too much supply and not enough demand in the broader residential real estate market.
But it’s politics that have hit the second-property market especially hard.
In an effort to ease Canada’s housing affordability crisis, governments have been cracking down on real estate speculation and absentee landlords. In just over a decade, measures have been introduced including a Foreign Buyer Ban, Underused Housing Tax (UHT) and provincial speculation taxes.
The Canada Revenue Agency (CRA) has also launched a mammoth effort to target undeclared property flips, which even impacts Canadians who count on their principal homes to see them through retirement.
While a capital gains tax is normally not imposed on profits from the sale of a principal residence, a recently introduced Anti-Flipping Tax treats profits from residential properties sold within 12 months as taxable business income.
Residential property is not a good retirement investment
A recent survey from the Healthcare of Ontario Pension Plan (HOOP) found 62 per cent of respondents said home ownership is “a key part of their retirement strategy, either as a financial investment or a source of stability in retirement.”
Another recent report from RBC found nearly half of wealth accumulation in Canada has been driven by home ownership over the past three decades.
Putting a large retirement nest-egg in one basket can always backfire. The risk from investing in individual real estate holdings, including secondary properties, is concentrated in one sector (residential real estate) in one geographic region (that location).
According to the Canada Mortgage and Housing Corporation (CMHC), the average annual increase in property values over 20 and 30 year periods have always exceeded five per cent since the end of the Second World War.
However, data on home values are based on averages across this great, diverse, country. Individual markets ebb and flow over time. Some appreciate above average, some just hold their value, and others depreciate - all on the whims of a micro-market.
A wide world of retirement investment alternatives
In comparison, investment portfolios of fixed income and equity holdings properly diversified across sector and geographic lines always post stronger and more reliable returns over the long term.
Wannabe landlords can still invest in diversified real estate holdings that generate rental income and potentially grow in value through real estate investment trusts (REITs).
REITs have many real estate holdings diversified by sub-sectors including residential, commercial and industrial.
They are publicly traded companies that own or finance income-producing real estate. They have not been immune from the global real estate slump but the sector is already showing signs of recovery.
One tax advantage a REIT has over a second property is its ability to avoid taxation all together if it is held in a tax free savings account (TFSA).
Another tax benefit allows contributions to a REIT in a registered retirement savings plan (RRSP) to be deducted from taxable income and grow tax free over several years until it is withdrawn.
Annual fees on most REITs are far below one per cent, but investors are normally compensated through annual yields from rental payments.
There’s another stark advantage a REIT has over a rental property. Most landlords know the burden of having to deal with plumbing in the middle of the night, legal liabilities, endless government regulation, and the stress of having to evict deadbeat tenants.
All that becomes the REIT manager’s problem. Administration and maintenance are part of their operating budget.
Source: https://www.bnnbloomberg.ca/investing/opinion/2026/08/07/why-investing-in-a-second-property-is-a-bad-retirement-plan-dale-jackson/
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2026-08-06
[Bnn Bloomberg Canada]: TORONTO — The Greater Toronto Area’s housing market cooled in July after a run of four straight months with year-over-year gains.
The region saw 5,995 homes change hands last month, down 0.9 per cent from July 2025, however sales rose 3.2 per cent from June on a seasonally adjusted basis.
The Toronto Regional Real Estate Board says the average selling price decreased 4.5 per cent year-over-year to $1,003,956, and the composite benchmark price, meant to represent the typical home, was down 4.6 per cent.
There were 14,484 new listings on the market in July, down 17.8 per cent from last year.
TRREB president Daniel Steinfeld says that with sales accounting for a larger share of listings, buyers “may find there is less room to negotiate moving forward.”
Inventory fell 12.1 per cent as there were 26,098 total active listings in the GTA.
This report by The Canadian Press was first published Aug. 6, 2026.
Sammy Hudes, The Canadian Press
Source: https://www.bnnbloomberg.ca/business/real-estate/2026/08/06/greater-toronto-home-sales-tick-lower-in-july-as-prices-fall-real-estate-board/
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