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  Published July 5, 2026 Your morning rundown on the Canadian economy, markets, and money moves — TSX hits a record close, CUSMA talks roll past the deadline, the first CGEB payment lands, and what to expect ahead of the Bank of Canada's July 15 decision. 1. TSX closes at a record high on gold-miner strength The S&P/TSX Composite climbed 0.9% to close at a record 35,275 on Friday, July 3, powered by gold mining stocks. Gold prices firmed after U.S. nonfarm payrolls for June came in at roughly half the expected pace, fuelling bets that the Federal Reserve could turn more dovish. Agnico Eagle, Wheaton Precious Metals, and Barrick all posted solid gains, while financials like Scotiabank and BMO also moved higher on easing oil-supply concerns. Why it matters: if you hold Canadian equity index funds in your TFSA or RRSP, resource and financial-sector strength has been doing a lot of the heavy lifting this year — worth knowing if your portfolio feels more concentrated than you'd...

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Canada’s Homegrown Counterattack: Tackling Trade Turmoil from Within

 

In the wake of President Trump’s aggressive tariff measures on Canadian imports, Canada is shifting its strategy from reactive tit-for-tat policies to a more robust, internally focused response. Rather than simply retaliating at the border, Canadian leaders are now championing a “buy Canadian” campaign that aims to strengthen domestic industries and reduce reliance on imports from the United States.

Following the announcement of steep U.S. tariffs—which target a broad range of Canadian products, from natural resources to consumer goods—Prime Minister Justin Trudeau and provincial officials quickly mobilized to mitigate the economic fallout. They have urged businesses and consumers alike to favor Canadian-made products and to invest in local supply chains. This approach not only seeks to cushion the economy from the immediate shock of retaliatory tariffs but also to build long-term resilience by boosting domestic production and innovation.

Officials explain that the new strategy is about “reinforcing our economy from within.” Provinces are already taking concrete steps, such as revising procurement policies and exploring incentives for local manufacturers, to ensure that more of the economic activity remains on home soil. In doing so, Canada hopes to not only deflect the adverse effects of Trump’s tariffs on its exports but also to compel the U.S. to face the consequences of its protectionist measures—an outcome that could eventually put upward pressure on American consumer prices.

This internally driven countermeasure represents a paradigm shift in Canada’s trade policy. Rather than waiting for external pressures to dictate economic outcomes, Ottawa is proactively investing in its own industries and securing the nation's long-term economic independence. As the trade dispute unfolds, Canada’s homegrown counterattack stands as a bold assertion of national sovereignty and economic self-reliance .

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