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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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Hamas Sticks to Demand for Gaza Truce Deal Implementation

 

 Amid ongoing conflict, Hamas remains steadfast in its position regarding Gaza truce talks. The Palestinian militant group insists that negotiations should focus on a deal already discussed with Israel and mediators, rather than starting anew. Israeli airstrikes, which recently claimed the lives of at least 19 Palestinians in the enclave, have intensified the urgency for a resolution.

The United States expressed optimism that peace talks scheduled for Thursday would proceed as planned, emphasizing the possibility of a ceasefire agreement. U.S. Secretary of State Antony Blinken is set to engage in discussions in Qatar, Egypt, and Israel. While the Israeli government confirmed its delegation’s participation, Hamas seeks a workable plan to implement a proposal it has already accepted, rather than engaging in further talks.

In the densely populated Deir Al-Balah, where many are desperate for a truce, Israeli airstrikes continue to exact a heavy toll. The conflict, now spanning 10 months, has resulted in nearly 40,000 Palestinian deaths, including commanders and fighters. A potential ceasefire deal aims to end hostilities in Gaza and secure the release of Israeli hostages held by Hamas in exchange for Palestinian prisoners in Israeli custody.

However, Israeli Prime Minister Benjamin Netanyahu maintains that the war can only end when Hamas is eradicated. As the situation remains tense, the international community watches closely, urging a swift resolution to prevent further loss of life.


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