Edward Meir's week in review and thoughts for the week of Aug. 31, 2026

Despite our concern that last weekend’s doomed US-Canada trade talks would unsettle sentiment, most markets shrugged off the impasse and instead held up fairly well. Crude was the notable exception. 

Last week on the trade front, Canada said it would match the 50% tariffs imposed by the US by imposing 50% duties of its own on US autos, steel, and aluminum exports starting on Sept. 8. Market reaction to this move was subdued, perhaps because the more consequential US tariffs don’t kick in until January of 2027. Investors might have concluded there is still time for the two sides to reach a deal.