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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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South Korean President Declares Emergency Martial Law


 In a surprising move, South Korean President Yoon Suk Yeol declared emergency martial law on Tuesday, citing the need to protect the country's constitutional order. The declaration accuses the opposition of controlling the parliament, sympathizing with North Korea, and engaging in anti-state activities.

During a televised briefing, President Yoon vowed to "eradicate pro-North Korean forces and protect the constitutional democratic order." He emphasized the necessity of the martial law to "rebuild and protect the free Republic of Korea," which he claims is falling into national ruin.

The announcement has drawn immediate criticism from politicians across the spectrum. Han Dong-hoon, leader of Yoon's own conservative party, called the decision "wrong" and vowed to stop it with the people. Opposition leader Lee Jae-myung, who narrowly lost to Yoon in the 2022 presidential election, labeled the declaration "illegal and unconstitutional."

The declaration's impact on South Korea's governance and democracy remains unclear, but it has certainly intensified the political turmoil in the country. As the situation unfolds, the world watches closely to see how this unprecedented move will shape the future of South Korea.



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