Hello, everyone! Welcome back to “GO in the Know,” our daily rundown of some of the top financial stories out there. Also, it’s my 14th wedding anniversary today. Happy anniversary, Sarah! But enough about my life — here’s the news.
The Big Lead: Trump’s 50% Canadian Tariffs — 8 Everyday Items That Could Cost More
On August 22, the Trump Administration’s long-threatened tariffs on Canadian goods came into effect as negotiations between the two countries broke down once again. With U.S. consumer prices already up 3.4% over the past year, another layer of import costs from both countries could make a variety of Canadian goods much more expensive.
Here are eight everyday items that will likely cost you more because of Trump’s Canadian tariffs.
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Business Spotlight: Walmart
Walmart got paid — and claims it is going to pay you back.
The mega-retailer said it has received “substantially all” of the $2.9 billion in tariff refunds it was eligible for, and is using it to lower prices for consumers who are struggling due to inflation and affordability issues. Read the full story here.
That’s Interesting: What Your Parents’ Lifestyle Would Cost in Today’s Economy
This article here breaks down what your parents’ 1990 lifestyle would actually cost if you tried to replicate it today. The comparison reveals just how much inflation has outpaced wage growth, and why their financial milestones might feel impossibly distant today.
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This article originally appeared on GOBankingRates.com: Trump’s Canadian Tariffs, Walmart’s Lower Prices and More of Today’s Top Money News
