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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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S&P 500 Soars to Record High Two Days After Trump's Inauguration

In a remarkable turn of events, the S&P 500 index reached a record high just two days after President Donald Trump's inauguration. The market surged by 0.81%, briefly trading above 6,100, driven by renewed optimism around Trump's trade policies. Investors seemed unfazed by Trump's tariff threats, focusing instead on the potential benefits of his administration's economic plans.

The Dow Jones Industrial Average also saw gains, rising by 127 points, while the Nasdaq index climbed 1.5%. Analysts attribute the market's performance to strong earnings reports and Trump's more moderate tone on trade compared to his campaign promises.

As the new administration settles in, market watchers are keenly observing how Trump's policies will shape the economic landscape in the coming months.




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