In partnership with

The Canadian Take

Good day,

Trump paused the new 50 per cent tariffs on Canadian goods just before they were supposed to take effect at midnight.

He says Canada and the U.S. have a deal. Carney is being much more cautious and says important work still remains.

We should know much more by the end of the week.

Here’s what else is happening across Canada.

Canada-U.S.
Trump pauses the tariffs, but I don’t think this is finished

Trump has delayed the new 50 per cent tariffs on roughly US$20 billion in Canadian goods for three days, saying Canada and the U.S. have reached a deal that still needs to be finalized. Carney’s language is much more cautious, saying there has been substantial progress but important work remains.

The negotiations still involve market access, autos, steel, aluminum, dairy and U.S. alcohol. The threatened tariffs are also unusual because some could hit goods that normally receive preferential treatment under CUSMA.

Here’s what I think is really going on. I don’t think there is a fully finished deal yet. Canada and the U.S. have been negotiating for weeks, and now we suddenly get a three-day extension that takes us to the end of the week. If talks fail, tariffs could begin going into the weekend, giving both governments more time before markets reopen Monday.

Trump may be comfortable calling it a deal because enough has been agreed to keep negotiations going. Canada clearly is not ready to say the same thing yet. Until we actually see the terms, I would not call this a win, a loss or even a completed agreement.

National Unity
Foreign actors are amplifying Alberta separatism

Research from DisinfoWatch says Russian-linked accounts and other foreign actors have been amplifying Alberta separatist narratives online. American involvement has also surfaced publicly, including previous meetings between Alberta separatist representatives and U.S. officials.

That does not mean foreign governments created Alberta separatism. The concern is that they can take legitimate Canadian disagreements and intentionally make them more divisive. Alberta is also heading toward an October 19 non-binding referendum tied to a possible future independence vote.

The federal government really needs to pay attention to this. Foreign interference does not have to change the result of a referendum to be successful. Making Canadians distrust each other and their institutions can be damaging enough.

Sponsored by

Holiday Creator Calendars Are Filling Up. Q4 Panic Is Optional.

Creators lock in their holiday content calendars 90 days out, before most ecommerce brands finalize their commission strategy and way before Black Friday and October deal events.

Get ahead of the seasonal rush with The 90-Day Holiday Sprint, a practical guide for brands that want creators driving holiday demand while competitors are still recruiting:

  • Structure commissions by lifetime value, not just first-order margin

  • Lead with the right products so creators promote with confidence

  • Recruit and onboard creators with a day-by-day plan for the first 30 days

  • Read performance early and pull program levers by Day 60

  • Brief creators with a holiday checklist before calendars fill up

Your 90-day countdown starts now.

Heathcare
Ontario puts another $250 million into primary care

Ontario is putting another $250 million into roughly 78 new or expanded primary-care teams, with the goal of connecting another 600,000 people to a family doctor, nurse practitioner or care team. Applications open in September.

This is part of Ontario’s larger $3.4-billion plan to connect everyone in the province to primary care by 2029. Previous rounds have reportedly connected patients faster than expected.

Ontario still needs to do much more on health care, especially around staffing and access. But if these teams actually reach 600,000 more people, that is a meaningful step in the right direction.

Wildfires
Canada is heading toward another severe wildfire season

Ontario is putting another $250 million into roughly 78 new or expanded primary-care teams, with the goal of connecting another 600,000 people to a family doctor, nurse practitioner or care team. Applications open in September.

This is part of Ontario’s larger $3.4-billion plan to connect everyone in the province to primary care by 2029. Previous rounds have reportedly connected patients faster than expected.

Ontario still needs to do much more on health care, especially around staffing and access. But if these teams actually reach 600,000 more people, that is a meaningful step in the right direction.

Forget Elon's Gadget. Buy the Companies Behind Its Tech.

Every breakthrough device runs on chips, parts, and materials from other companies — most of them public and overlooked. Our analyst named 3 positioned to profit from Elon's July 22 launch, plus the most undervalued name in the supply chain.

Education
Ontario teachers could return without new contracts

Ontario’s major teacher and education-worker agreements expire August 31, and bargaining remains unresolved.

The unions served notice to bargain earlier this summer, with sick leave becoming one of the major sticking points.

For parents, the important part is this: there is no province-wide September strike currently announced. Students may return while negotiations continue, and stronger job action could come later if talks break down.

Quick things happening across Canada

  • Canadian housing may be stabilizing: Home sales rose for a fourth straight month in July, while CREA’s national price index posted its first monthly increase since November 2024. Prices are still lower than a year ago, so this looks more like stabilization than another housing boom.

  • Quebec separatists are waiting for Trump: PQ leader Paul St-Pierre Plamondon still wants an independence referendum if his party wins government, but says it will not happen before Trump leaves office.

  • Fixed mortgage rates may stay stubbornly high: Long-term global bond yields have risen, with U.S. 30-year yields moving above 5 per cent. Fixed Canadian mortgage rates are influenced heavily by bond markets, not just Bank of Canada decisions.

  • Oil is back above US$90: Continued uncertainty around Iran and the Strait of Hormuz is pushing crude higher. That helps Canadian oil producers but can also raise gasoline, transportation costs and inflation.

  • Meta faces a major child-safety trial: U.S. states accuse Meta of designing Instagram and Facebook in ways that harmed young users. Meta denies the allegations, while a former company engineer is testifying against it.

P.S. Do you think Trump and Carney already have a real agreement and are just finishing the paperwork, or do you think the three-day extension means there are still major issues left to settle?

Hit reply and let me know.

If today’s issue helped, share it with another Canadian.

Until Tomorrow,
Dean.

Keep Reading