5 Things to Know Today: Tariff Threats, Pricier Mortgages and Gas
Sunday, July 19, 2026 From a new tariff threat out of Washington to rising costs at the pump and on your mortgage renewal, here's what actually moves your money this week — and what to do about it. 1. Trump threatens new tariffs on Canada over wildfire smoke President Trump said Friday he wants to add the cost of wildfire smoke drifting into U.S. cities to the tariffs Canada already pays, calling it "willful negligence" as hundreds of fires burn across Ontario and other provinces. It's legally unclear he can actually do this — the Supreme Court already struck down his use of emergency powers for tariffs, and the current 10% levy on non-CUSMA-compliant Canadian goods is set to expire at the end of July. Prime Minister Carney brushed off the criticism, and Ontario's premier called the threat "unacceptable." What it means for you: Nothing changes today — but this is a live threat right as the current tariff structure is up for renewal. If you import good...
