News of the day: Auto tariff threats, TFSA as education fund, Unifor-GM labour deal, BDC expands into defence sector, settlement negotiations and more

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Donald Trump watches the NTT INDYCAR Series on Sunday in Washington, D.C. On Monday, the U.S. president threatened higher tariffs against Canada's auto industry.Donald Trump watches the NTT INDYCAR Series on Sunday in Washington, D.C. On Monday, the U.S. president threatened higher tariffs against Canada's auto industry. Photo by Mike Kropf/Getty Images

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It’s Monday, August 24. Here are the top stories we’re following today.

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United States President Donald Trump on Monday announced that he plans to raise tariffs on Canadian autos and auto parts to 50 per cent starting in January, marking the latest escalation of trade tensions between the two countries.

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Hand putting coin into piggy bank atop some text books with a blackboard covered in equations as a backdrop Although programs like the Canada Learning Bond offers some support, the reality is many Canadians will need money from other sources, such as a tax free savings account, to fund a child’s post-secondary education. Photo by Seb Ra/Getty Images

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If your child is starting high school next month, you may think you have time to start planning financially for their post-secondary education. The truth is, you are already late.

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In this file photo taken on November 26, 2018, the General Motors plant sign in Oshawa, Ontario, on November 26, 2018. Approximately 30 per cent of Unifor members at General Motors in Canada were on layoffs when talks opened earlier this month. Photo by LARS HAGBERG/AFP via Getty Images

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Unifor and General Motors Co. reached tentative labour agreements over the weekend just as trade tensions were heating up between Canada and the United States, the union said.

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Business Development Bank of Canada CEO Isabelle Hudon is seen during an interview before the CVCA conference in Halifax, NS Thursday May 28, 2026. Isabelle Hudon said a model for Business Development Bank of Canada is the KfW Development Bank in Germany, which serves sectors that are aligned with country strengths as identified by the government. Photo by TIM KROCHAK/Postmedia

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The Business Development Bank of Canada expects to launch new initiatives aimed at bolstering Canada’s economic sovereignty following the roll-out of a $6 billion defence platform over the past year, says the head of the arm’s-length Crown corporation.

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 the people sitting across from you, and the people they become once you're no longer in the room. The best negotiators understand that every meeting has two audiences: the people sitting across from you, and the people they become once you’re no longer in the room. Photo by Getty Images/iStockphoto

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The mistake many employers make in workplace settlements is believing they are negotiating only with the other lawyer, writes Howard Levitt.

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