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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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Tech Stocks Wobble as Micron’s Forecast Disappoints: Market Update

 

US stock futures retreated on Thursday after chipmaker Micron’s outlook put a dent in tech-rally hopes. Investors are closely watching fresh economic data ahead of an inflation reading key to Federal Reserve policy. Here are the key points:

  • Micron’s Impact: Micron’s sales forecast for the current quarter met expectations but failed to satisfy investors looking for stellar outperformance from AI-linked companies. As a result, Micron’s shares slid almost 6% in pre-market trading.

  • Tech Stocks: The bullishness around AI has helped lift the benchmark S&P 500 to a 15% gain this year. However, concerns are growing that the rally could be at risk if the handful of tech companies driving most of those gains stop topping already lofty expectations. Nvidia was down 1.6%, reviving worries of a return to the sell-off that rattled markets last week, as other AI chip stocks came under pressure.

  • Economic Data: Focus is also on updates on GDP and weekly jobless claims due before the market open. Additionally, the PCE inflation print on Friday will influence the Fed’s thinking on timing of interest-rate cuts.

  • Corporate Front: Levi Strauss shares sank over 15% in the wake of a second-quarter revenue miss for the jeans seller. Investors will look to Nike’s quarterly results after the bell for more clues to consumer resilience.

Remember to stay informed and keep an eye on market developments! 

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