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5 Things to Know Today: Tariffs, a CPI Surprise, and the Mortgage Rate Gap

  July 21, 2026 A new round of US tariffs, a surprise inflation dip, and a widening gap between fixed and variable mortgage rates are all moving in different directions today. Here's what's happening and what it means for your money. 1. Washington hits Canada with new 50% tariffs on everyday goods The White House has announced fresh 50% tariffs on a wide list of Canadian exports, including wine, dairy, furniture, hockey equipment, cement, and clothing. The move is framed as retaliation over Canada's dairy quotas, car import rules, and provincial bans on US alcohol. The tariffs take effect August 19 and apply even to goods that would normally qualify duty-free under CUSMA, though energy, potash, fish, and critical minerals are exempt. What it means for you: This round targets export industries, not imports into Canada, so it won't directly raise shelf prices here the way a Canadian tariff on US goods would. The bigger risk is indirect — job pressure in affected sectors ...
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Lemon Blueberry Pound Cake

 

Bursting with juicy blueberries and bright lemon flavor, this lemon blueberry pound cake is the perfect brunch treat or sweet pick-me-up any time of day.

Ingredients:

  • 2 large lemons (for zest and juice)
  • 1 cup whole milk
  • 2 cups all-purpose flour
  • 1/2 teaspoon baking soda
  • 1/2 teaspoon salt
  • 1 cup unsalted butter, at room temperature
  • 2 cups granulated sugar
  • 4 large eggs
  • 1 pint fresh blueberries (about 2 cups), dusted with a little flour

Instructions:

  1. Zest the Lemons: Begin by zesting the lemons. In a small bowl, whisk together the milk, lemon zest, and lemon juice. Let it sit for at least 10 minutes (it will curdle, and that’s okay).
  2. Preheat the Oven: Preheat your oven to 350°F (175°C). Grease and flour a 9x5-inch loaf pan.
  3. Whisk Dry Ingredients: In a medium bowl, whisk together 2 cups of flour, baking soda, and salt.
  4. Toss Blueberries: In a separate small bowl, toss the blueberries with a teaspoon of flour. Set both the flour mixture and blueberries aside.
  5. Cream Butter and Sugar: In the bowl of an electric mixer fitted with the paddle attachment (or beaters), combine the butter and sugar. Beat on medium speed until light and fluffy (about 2-3 minutes).
  6. Add Eggs: Scrape down the sides of the bowl, then beat in the eggs one at a time, beating well after each addition.
  7. Alternate Mixing: With the mixer on low speed, beat in a third of the flour mixture. Next, beat in half of the milk mixture. Repeat with another third of the flour mixture, followed by the remaining milk mixture, and finally the remaining flour mixture. Scrape down the sides of the bowl and mix briefly to ensure even batter.
  8. Fold in Blueberries: Add the flour-dusted blueberries to the batter and fold gently until evenly combined.
  9. Bake: Transfer the batter into the prepared loaf pan and smooth the top. Bake for 50 to 60 minutes, until the cake is golden brown and a tester comes out clean.
  10. Cool and Glaze: Let the cake cool in the pan for about 10 minutes, then turn it out onto a rack to cool completely. Once cool, transfer it to a serving platter. Make the glaze by combining confectioners’ sugar, lemon zest, and lemon juice. Spoon the glaze over the top of the cake, letting it drip down the sides. Let the glaze set for 10 to 15 minutes before slicing with a serrated knife.


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