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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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Ceasefire Deal in Gaza: Hostages Freed and Prisoners Released


In a significant development in the Middle East, Hamas has released three hostages as part of a ceasefire deal with Israel. The hostages, Yarden Bibas, Ofer Kalderon, and Keith Siegel, were handed over to the Red Cross in the southern Gaza Strip. This release is part of the fourth round of exchanges under the ceasefire agreement, which also saw Israel releasing dozens of Palestinian prisoners.

The ceasefire, which began six weeks ago, aims to release a total of 33 hostages and nearly 2,000 prisoners, as well as facilitate the return of Palestinians to northern Gaza and increase humanitarian aid to the devastated territory. The next phase of negotiations will focus on releasing the remaining hostages and extending the truce indefinitely.

The Rafah border crossing with Egypt has also reopened, allowing thousands of Palestinians in need of medical care to access treatment. This development signals that the ceasefire agreement is gaining traction, although the situation remains fragile.

As negotiations continue, the hope is that this ceasefire will pave the way for a lasting peace in the region.



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