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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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Hostages Set for Release Amid Gaza Ceasefire

 

Palestinian militant groups in Gaza have announced the release of three hostages on Saturday, in accordance with the terms of the ceasefire agreement with Israel. The hostages named for release are Iair Horn, U.S.-Israeli Sagui Dekel-Chen, and Russian-Israeli Alexandre Sasha Troufanov.

The announcement follows intense mediation efforts by Egyptian and Qatari officials to maintain the ceasefire, which has been under threat due to accusations of violations from both sides. The ceasefire, which began on January 19, 2025, was intended to facilitate the exchange of hostages and prisoners, as well as the withdrawal of Israeli forces from Gaza.

Hamas had previously threatened to halt the release of hostages, accusing Israel of blocking aid deliveries into Gaza. In response, Israeli Prime Minister Benjamin Netanyahu and U.S. President Donald Trump warned that the ceasefire would be canceled if the hostages were not released.

The release of the three hostages is part of a larger agreement that includes the exchange of hundreds of Palestinian prisoners and detainees. The ceasefire aims to pave the way for further negotiations to secure the release of remaining hostages and to rebuild Gaza after 15 months of devastating conflict.

The situation remains tense, with both sides accusing each other of breaching the agreement. However, the release of these hostages is seen as a positive step towards maintaining the fragile ceasefire and moving towards a more stable and peaceful resolution.


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