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CUSMA Not Renewed: What the Trade Deal Impasse Means for Your Wallet

  July 2, 2026 | Trade & Economy The mandatory six-year review of Canada's most important trade agreement came and went this week — and it did not go the way Ottawa hoped. On July 1, U.S. Trade Representative Jamieson Greer confirmed that the United States will not renew the Canada-United States-Mexico Agreement (CUSMA) in its current form, sending the deal into a more uncertain, year-by-year footing right as Canadians are already navigating tariffs, a soft labour market, and a technical recession. Here is what actually happened, why it matters, and what it could mean for your budget in the months ahead. The short version CUSMA isn't dead. It remains legally in force until 2036. But instead of locking in a fresh 16-year term, the deal now shifts into annual reviews, with existing tariffs on steel, aluminum, autos and softwood lumber unresolved for now. What happened on July 1 CUSMA was built with a mandatory joint review every six years. If Canada, the U.S. and Mexico had a...
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Stocks close mixed as tech pares losses


On Tuesday, January 9, 2024, the US stock market closed with mixed results. The Dow Jones Industrial Average (^DJI) slipped 0.4% or about 150 points. The benchmark S&P 500 ( ^GSPC) fell by nearly 0.2%, while the tech-heavy Nasdaq Composite ( ^IXIC) crawled above the flatline, in a reversal of earlier losses. The tech rally wavered after a Samsung profit warning took the shine off the sector. Samsung’s update weighed on hopes for a rebound in the PC and mobile sector, a key market for its memory chips. The Korean company said it expects a 35% drop in fourth-quarter operating income, far short of estimates, as demand continues to lag.

Investors are focusing on the December consumer inflation reading due Thursday and what it could mean for the chances of easing interest rates. Two Federal Reserve officials on Monday poured cold water on Wall Street’s already fading expectations that a cut could come in the next few months. The idea that inflation is cooling underpins investors’ belief that the US economy will skirt recession. That conviction faces a crucial test on Friday, when big banks kick off the fourth-quarter earnings season.

Oil prices ( CL=F) ( BZ=F) rose just under 2%, recouping some of Monday’s near 4% fall as investors weighed the impact of tensions in the Middle East and Saudi Arabia’s decision to cut crude prices.


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