Good afternoon! The US-Canada trade fight is no longer just a headline; it's already moving the numbers that shape your everyday budget: what your next mortgage renewal could cost, what shows up on your grocery and household bills, and which jobs and industries feel the squeeze first.
On The Money Today:
Why a bond market dispute in Washington could push your mortgage rate up
What the new 50% tariffs actually cost the average Canadian household
Ottawa's $27.6B countermove, and what a longer standoff means for jobs here
Let's dive in.
MORTGAGES
Why the US Treasury's bond fight could push your mortgage rate up
Stanley Druckenmiller just broke publicly with the US Treasury secretary he mentored, calling a bond-buying plan meant to calm markets a losing bet. Canadian bond yields tend to follow US Treasuries closely, and lenders here have already started nudging fixed rates higher because of it. If you're renewing, refinancing or shopping for a mortgage, here's what to watch before your rate is decided for you.
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NEWS
50% tariffs are 'utterly pointless,' says Forbes chair. Here's the cost
Steve Forbes says the new 50% US duty on Canadian goods works like a tax that American buyers end up paying, not a win for Washington. The tariffs already hit C$27.68B in exports, and Ottawa's dollar-for-dollar retaliation lands September 8. This is where the cost is most likely to reach your grocery bill, your mortgage outlook and your portfolio first.
MUST READ
Ottawa hits back with $27.6B in counter-tariffs as autos face a 50% hit
Canada is matching Trump's tariffs dollar-for-dollar, days after trade talks collapsed and Washington moved to double the levy on Canadian vehicles and parts to 50% by 2027. Ottawa paired the retaliation with $7.5 billion in aid for exposed workers and businesses, but premiers are split on how far to go. What a longer standoff could mean for prices and jobs on this side of the border.
MONEY IQ
About how much of Canada's total exports to the US do the new tariffs affect?
ALSO MAKING THE ROUNDS TODAY
INVESTING: Canadian bank stocks dropped up to 4.4% before earnings, and here's what dividend investors should watch instead of the falling share price
AUTO: DIY oil changes can save Canadians up to $150, but a denied Subaru warranty claim shows how it can cost you far more
NEWS: An 84-year-old's account was drained undetected for weeks, and the firm was fined $250K — but her money is what matters
NEWS: A fake carrier upgrade call cost one Canadian over $4,000, and here's how to spot the scam before you ship anything back
MONEY IQ: HOW'D YOU DO?
Answer: A) 5% — a small slice of trade, but Forbes warns the bigger risk is to jobs and investment in exposed industries.
That's a wrap for today! Before you go, we'd love to know what you thought of today's newsletter. Hit REPLY if you have more to share — we read every reply.
