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Canada has announced new tariffs on about $20 billion worth of U.S. goods, including steel and dairy products, in response to President Donald Trump's tariffs on Canadian products. This action is part of an escalating trade conflict between the two countries, with Canada also offering financial help to businesses affected by the tariffs.
Key Facts
Canada imposed tariffs on $19.94 billion of American goods like steel, dairy, appliances, and farm equipment.
The tariffs match the rates set by the U.S., ranging from 15% to 50% on over 700 products.
Tariffs impact everyday items such as seafood, cheese, clothing, cosmetics, and toilet paper.
Canada announced a $7.5 billion aid package to support businesses and workers hit by the trade war.
The new tariffs take effect on September 8, 2026.
President Trump had previously set 50% tariffs on Canadian goods after trade talks failed.
Trump threatened even higher tariffs on Canadian vehicles, steel, and auto parts if Canada did not comply.
The overall goal of Canada’s tariffs is to protect its industries and reduce imports from the U.S., not to generate revenue.
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Canada announced it will impose new tariffs on hundreds of American products, matching the U.S. tariffs dollar for dollar and rate for rate. These Canadian tariffs will begin on September 8, following the breakdown of trade talks between the two countries.
Key Facts
Canada plans to add tariffs on many U.S. products, with rates up to 50%.
The tariffs will match exactly the amount and rate of U.S. tariffs applied.
Canadian Finance Minister François-Philippe Champagne announced this decision.
The tariffs will start on September 8.
This move follows failed negotiations between Canada and the United States.
The action is meant to respond to recent U.S. trade measures affecting Canada.
The Canadian government is using tariffs as a way to protect its industries.
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Canada has started charging extra fees called tariffs on goods from the United States in response to new U.S. tariffs on Canadian products. Canada is also giving financial support to workers and encouraging people to buy products made in Canada to help its industries during this trade conflict.
Key Facts
Canada imposed tariffs on goods imported from the United States as a retaliation.
The new Canadian tariffs respond to recent U.S. tariffs on Canadian products.
The Canadian government announced a multi-billion-dollar aid package for workers affected by the trade dispute.
Canadian officials urged citizens to support local businesses by buying Canadian-made goods.
The trade tensions between Canada and the U.S. are described as a deepening trade war.
The Canadian government frames the tariffs as a matter of national control, or sovereignty.
The conflict is affecting industries like steel, as seen in facilities like ArcelorMittal Dofasco in Ontario.
The news was reported on August 25, 2026.
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Nayeema Raza talks about why she created her podcast called "Smart Girl Dumb Questions." She shares what inspired her and discusses some fun questions from the show with the hosts of "CBS Mornings."
Key Facts
Nayeema Raza is the host of the podcast "Smart Girl Dumb Questions."
She appeared on the TV show "CBS Mornings."
Raza explained the reasons she started her podcast.
She shared examples of interesting and simple questions from the show.
She joined the hosts to have a lighthearted conversation about flirting.
The podcast focuses on exploring common and fun questions people have.
The interview is available on the CBS News app and website.
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Volkswagen’s CEO, Oliver Blume, told thousands of workers that the company needs a big reorganization, which may include job cuts and closing some factories, to secure its future. Workers protested his speech by booing and holding banners, while union leaders criticized the lack of clear information about the plans.
Key Facts
Volkswagen plans a major restructuring that could include cutting about 50,000 jobs worldwide.
About half of the job cuts could happen in Germany, with the rest spread across other countries.
The company aims to reduce costs, which are currently about 30% higher than similar competitors.
VW prefers voluntary measures to reduce staff, such as phased retirement and hiring restrictions, rather than forced layoffs.
Some factory closures are planned or considered, but are described as a last resort by VW management.
Potential new factory uses include producing electric vehicles for the Chinese market and manufacturing defense products.
The VW work council strongly opposes factory closures and says trust in the CEO has been damaged.
VW faces challenges like strong competition from Chinese automakers, falling sales in China, and US import tariffs.
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Reports say that Commerce Secretary Howard Lutnick made last-minute demands during trade talks between the U.S. and Canada. These demands caused the negotiations to fail, leading to a trade war between the two countries.
Key Facts
The U.S.-Canada trade talks lasted for several weeks.
Officials from both countries had agreed on a trade deal outline before the deadline.
Commerce Secretary Howard Lutnick made new demands just before the talks ended.
These demands caused the trade negotiations to collapse.
As a result, the U.S. and Canada entered a trade war.
President Donald Trump was involved in the situation as the U.S. leader.
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The United States, under President Trump's administration, has imposed new tariffs on goods from Canada. In response, Canadian government officials have announced several countermeasures to protect their economy and workers as the trade dispute between the two countries grows.
Key Facts
President Trump's administration introduced new tariffs on Canadian products.
Canada announced plans to respond with countermeasures against these tariffs.
The dispute is part of a growing trade war between the US and Canada.
Canadian officials aim to protect workers and the economy with their response.
The trade tensions have increased with threats of further US tariffs.
This situation involves economic policies and trade regulations between neighboring countries.
Both countries are using tariffs, which are taxes on imports, as a tool in this conflict.
The ongoing trade war affects industries and markets in both nations.
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Target removed a Halloween costume from its online store after people said it resembled racist minstrel show characters from the 1800s. The costume was called "Kids’ Glows Under Blacklight Circus Clown Halloween Costume."
Key Facts
Target took the costume off its website on Monday.
The costume was meant to be a circus clown outfit for children.
Critics compared the costume’s look to racist images used in minstrel shows in the 19th century.
Social media users highlighted similarities in hand gestures and clothes between the costume and those racist images.
The removal came after public criticism on social media.
The costume featured materials that glow under blacklight.
Target responded by pulling the item rather than defending it.
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Canada's Finance Minister François-Philippe Champagne said that Canada will impose tariffs on the United States starting September 8. These tariffs will match the tariffs set by President Trump, meaning Canada will charge the same amount in taxes on goods from the U.S.
Key Facts
Canada is responding to U.S. tariffs by introducing its own tariffs.
The Canadian tariffs will be equal in value to the U.S. tariffs ("dollar for dollar").
The new tariffs will start on September 8.
The announcement was made by Canada's Finance Minister François-Philippe Champagne.
The tariffs are a form of trade retaliation, where countries tax imports to protect their economies or respond to other countries’ actions.
These measures relate to ongoing trade tensions between Canada and the U.S.
The tariff decision was reported by CBS News.
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Canada's trade minister said that trade talks with the United States did not succeed. After the failure of these talks, Canada decided to apply tariffs—extra taxes—on certain American goods as a response.
Key Facts
Trade discussions between Canada and the U.S. ended without an agreement.
Canada announced retaliatory tariffs against the U.S. after the talks failed.
Dominic LeBlanc is Canada's minister of internal trade.
He explained Canada's reasons for responding with tariffs during a CBS News interview.
Retaliatory tariffs mean Canada added taxes on some U.S. products to balance trade disagreements.
The talks aimed to resolve trade issues between the two countries.
The failure of talks and tariffs may affect trade relations and economic exchange between Canada and the U.S.
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Canada announced $20 billion in new tariffs on U.S. goods starting September 8 in response to failed trade talks with the United States. The tariffs apply to about 700 products, and Canada also introduced a $7.5 billion aid package to support businesses and workers affected by these measures.
Key Facts
Canada will impose tariffs of 15%, 25%, and 50% on around 700 U.S. products.
The new tariffs take effect on September 8.
Canada’s aid package includes $7.5 billion to help businesses and workers impacted by the trade dispute.
The tariff rates are 50% on steel, aluminum, furniture, and clothing; 25% on cheese, appliances, and certain seafood; 15% on electronics and tools.
The dispute escalated after President Trump threatened 50% tariffs on Canadian vehicles, auto parts, and steel.
Canadian officials warn these trade tensions could also hurt U.S. businesses, with possible restrictions on electricity and mineral exports.
Canada is the largest foreign buyer of U.S.-made vehicles but fears U.S. tariff demands could damage its auto industry.
The breakdown in talks has led to ongoing tensions between President Trump and Canadian leadership.
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Target removed a children's Halloween costume from sale after people said it looked like a racist image. The company apologized, saying the costume was offensive and hurtful to Black customers and workers.
Key Facts
Target sold a "Kids' Glows Under Blacklight Circus Clown Halloween Costume" that some people said resembled blackface and minstrel shows.
The company called the costume offensive and said it should never have been sold.
Target apologized publicly and said it is reviewing how this mistake happened to prevent it from happening again.
Target declined to give more details when asked by the BBC.
The store has recently faced supply shortages and criticism for ending diversity and inclusion goals.
Target was also criticized last year for how it handled its Pride Collection products.
Target is a large retail company known for selling affordable clothing, groceries, electronics, and toys.
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Many Americans have high credit card debt, which is hard to pay back due to rising interest and other costs. Debt forgiveness can sometimes be negotiated before an account goes to collections if the borrower faces financial hardship, but this depends on the lender’s policies and the borrower's situation.
Key Facts
Credit card debt in the U.S. increased by $21 billion in the second quarter of 2026, reaching $1.26 trillion.
New credit card delinquencies remain high, even though overall delinquency rates improved slightly.
Debt forgiveness does not always require the debt to be in collections.
Lenders may accept a partial payment if the borrower shows real financial hardship.
Being current on payments can make lenders less likely to forgive part of the debt.
Accounts in collections may be easier to settle for less, but this is not guaranteed.
Letting debt go to collections can cause more fees, hurt credit scores, and risk legal actions.
It can be risky to let accounts become delinquent on purpose to try to get better debt forgiveness offers.
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United Airlines will add 10 new international flight routes starting in 2027, expanding its network to more cities in Europe and Asia. Most of these new flights will operate from Newark Liberty International Airport, which has become more reliable for takeoffs and landings.
Key Facts
United Airlines plans to start 10 new international routes as early as March 2027.
The new destinations include cities in Japan, France, Luxembourg, Spain, Portugal, Slovenia, and Italy.
Eight of the new routes will begin from Newark Liberty International Airport in New Jersey.
Newark airport has improved its reliability for flights after the FAA granted more flight slots, or permissions to take off and land.
United’s current international network includes 160 destinations.
CEO Scott Kirby said aircraft manufacturers have increased production, helping them add more routes.
Airline ticket prices are rising due to strong traveler demand but remain lower than before the COVID-19 pandemic.
Airfare inflation was more than 25% higher in July 2023 compared to the previous year.
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A $100,000 home equity loan taken out in September 2026 will have monthly payments between about $964 and $1,221, depending on the loan term and interest rate. Interest rates for home equity loans have risen compared to spring 2026 but are slightly lower than at the start of the year.
Key Facts
Homeowners can borrow money using the value built up in their homes, called home equity.
As of August 24, 2026, the median interest rate for home equity loans is 8.14%.
Monthly payments on a $100,000 loan at 8.14% interest are approximately $1,221 for 10 years or $964 for 15 years.
Compared to April 2026, when rates were 6.96%, monthly payments were lower ($1,159 for 10 years, $897 for 15 years).
Home equity loans have fixed interest rates, making payments predictable.
Borrowers must begin repaying the full amount quickly since funds are given in a lump sum.
There is a risk of losing the home if payments are not made on time, as the home serves as collateral.
It is wise to shop around for the best loan rates, as rates may rise if the Federal Reserve increases interest rates.
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CBS Mornings Deals offers special discounts on products that aim to improve daily life. Customers can visit cbsdeals.com to find and buy these discounted items. CBS earns money when people purchase products through their website.
Key Facts
CBS Mornings Deals features special discounts on useful products.
The deals focus on items that can improve everyday life.
Shoppers can access these offers on the website cbsdeals.com.
CBS earns commissions from sales made through this site.
The deals are promoted during the CBS Mornings news program.
The service is part of CBS News’ efforts to provide consumer recommendations.
Customers can use web browsers like Chrome or Safari to visit the site.
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Callaway Golf's CEO apologized for an online ad showing a male golfer pushing a female golfer to the ground, which caused public upset. The ad was removed, and the company said approving it was a mistake that they take seriously.
Key Facts
The ad showed a man shoving a woman during a dispute over a golf driver.
The ad was made by Good Good Golf and approved by Callaway before release.
Both Callaway and Good Good apologized and pulled the ad after backlash.
Some people said they might stop buying Callaway products because of the ad.
Critics said Callaway’s apology did not fully address the problem and called for donations to women's golf and domestic violence groups.
Women make up 28% of golfers, the highest on record, and their numbers have grown faster than men’s in recent years.
The National Golf Foundation reports a 45% increase in female golfers from 2020 to 2025 predictions.
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An island in the Venice lagoon called Crevan, featuring a Napoleonic fort turned villa and gardens, is for sale. The island has a rich history and is close to Venice but offers privacy away from crowds.
Key Facts
Crevan island is slightly smaller than a football pitch.
The fort on the island was built in 1806 by the French military during the Napoleonic era.
The island was used for military purposes until after World War I.
It was later restored for residential use, including a villa with four bedrooms.
The property includes manicured gardens, a private mooring, and a helipad.
Several luxury real estate agencies are handling the sale, but the price is not publicly disclosed.
Another Venetian island, Isola Santa Cristina, with luxury features, was recently listed for about €24 million.
A third island near Venice’s Lido, dating back to the 1500s, is also for sale.
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United Airlines is adding flights to 10 new international places, such as Okinawa in Japan and Ibiza in Spain. The airline's CEO, Scott Kirby, spoke about this major expansion on CBS Mornings.
Key Facts
United Airlines is starting flights to 10 new international destinations.
New destinations include Okinawa, Japan, and Ibiza, Spain.
The expansion is the largest in United Airlines’ history.
Scott Kirby is the CEO of United Airlines.
Kirby discussed the expansion during an interview on CBS Mornings.
This growth aims to increase the airline's global reach and options for travelers.
The announcement was featured by CBS News.
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Billionaire investor Stanley Druckenmiller criticized the U.S. Treasury Department’s plan to expand buybacks of government bonds. He said this move tries to artificially influence the bond market, and the effect on bond yields was temporary.
Key Facts
Stanley Druckenmiller is a billionaire investor.
The U.S. Treasury Department announced a plan to expand bond buybacks.
Bond buybacks occur when the government buys back its own debt securities.
After the announcement, bond yields first fell but then returned to earlier levels quickly.
Druckenmiller argues the Treasury’s plan interferes with natural market forces.
The comments appeared in an opinion article in the Wall Street Journal.
Bond yields are important because they affect borrowing costs for the government and others.
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