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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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U.S. Futures Steady as Investors Await Economic Data and Powell’s Speech

 

U.S. stock index futures remained largely unchanged on Thursday morning as investors awaited key economic data and a speech by Federal Reserve Chair Jerome Powell. The producer price index (PPI) for October and weekly jobless claims data are expected to be released at 8:30 a.m. ET, which could provide insights into corporate pricing power and the broader economic outlook.

Market participants are also keenly anticipating Powell’s comments later in the day, hoping for clues on future monetary policy. Traders are currently pricing in a high probability of a 25-basis point interest rate cut at the Fed’s December meeting, following recent consumer price index data that aligned with forecasts.

In premarket trading, Dow E-minis were up 0.19%, S&P 500 E-minis rose 0.09%, and Nasdaq 100 E-minis edged up 0.04%. Shares of cryptocurrency-focused companies saw gains, with Coinbase Global up 3.8% and bitcoin buyer MicroStrategy rising 3.4%.

Investors will be closely monitoring Powell’s speech for any indications of how the Fed plans to navigate the current economic landscape, especially in light of inflationary pressures and potential policy shifts under the incoming administration.


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