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CUSMA Renewal Deadline Passes: What It Means for Your Wallet

  July 8, 2026 July 1 came and went without a full renewal of the Canada-United States-Mexico Agreement (CUSMA). Instead of locking in another 16-year term, the United States chose not to extend the deal in its current form, which means the trade pact now shifts into an annual review process for the next decade. Here's what that actually means for your money. What just happened All three countries had until July 1 to say whether they wanted to renew CUSMA. Because Washington opted against a full renewal, the agreement now gets reviewed annually rather than being locked in for over a decade. Canada's Trade Minister Dominic LeBlanc confirmed the three countries agreed to keep talking, with Canada specifically pushing to address sectoral tariffs on steel, aluminum, autos, and lumber. Any of the three countries can still walk away entirely with six months' notice. The good news: most trade stays tariff-free For now, the status quo holds. The bulk of Canadian exports to the U.S....
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Tariff Shock Ripples: TSX Futures Plunge as Global Markets Sell Off


TSX futures joined a broader global selloff on Monday after U.S. President Donald Trump announced new tariffs on imports from Canada, Mexico, and China, set to take effect Tuesday. The measures include a 25% levy on most Canadian goods—with energy products facing a lower 10% rate—and have spurred widespread investor anxiety about the potential for a full-blown trade war.

Early trading saw March futures on the S&P/TSX index drop by about 1.3%, as markets reacted swiftly to the news. The tariffs have unsettled investors, prompting a flight to safer assets such as the U.S. dollar and U.S. Treasuries, while equity positions were pared off amid fears that the tariffs could lead to higher inflation and slower economic growth. Global indices from Europe to Asia have also been pressured, with significant selloffs in major markets.

In response to Trump’s announcement, Canadian Prime Minister Justin Trudeau has vowed swift retaliatory measures, unveiling plans for tariffs on roughly C$155 billion worth of U.S. goods. The escalation in trade tensions is likely to disrupt supply chains further, affecting sectors from automotive to energy, and could even pave the way for prolonged economic uncertainty.

Amid the turmoil, some corporate activity continues to move forward. For example, Brookfield Asset Management recently completed a $1.7 billion acquisition in the electric heat trace systems sector—a sign that while markets are volatile, business fundamentals continue to drive major transactions.

As investors digest the unfolding trade conflict, many caution that further tariff escalations could lead to a cascade of economic challenges, including increased consumer prices and potential recessions in affected regions.

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