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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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US Futures Dip as Investors Seek Inspiration


The US stock market futures are showing a slight decline today as investors search for inspiration amid mixed signals. Let’s break down the key points:

  1. Rate-Cut and AI Growth Hopes Take a Hit:

    • The recent optimism surrounding rate cuts and artificial intelligence (AI) growth has waned. Federal Reserve officials have emphasized that interest rates will remain higher for longer due to persistent inflation concerns.
    • High yields on 10-year Treasury bonds have weighed on growth stocks, particularly megacap Big Tech companies.

  2. Arm’s Revenue Forecast Dampens AI Enthusiasm:

    • Arm, a major chip designer, provided a downbeat annual revenue forecast. This has cast doubt on the AI growth narrative that had previously boosted chip stocks.
    • Shares of Arm dropped 9% in pre-market trading, and sector peers Nvidia and AMD also saw slight declines.

  3. Earnings Season Continues:

    • Warner Bros. Discovery reported earnings that missed estimates, failing to provide support for investors seeking positive catalysts.
    • Other companies, including Roblox and Yelp, are also reporting earnings today as the season winds down.

  4. Macro Front Updates:

    • Keep an eye on weekly jobless claims data, which is due later today.
    • San Francisco Fed Chief Mary Daly is scheduled to speak, potentially providing further insights.

In summary, the stock market remains cautious, with investors closely monitoring earnings reports and macroeconomic indicators. The path forward depends on how various factors play out in the coming days.


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