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CUSMA Wasn’t Renewed: The 10-Year Clock Now Running on Your Job, Prices and Savings

  Canadian Money Brief | Feature CUSMA Wasn't Renewed: The 10-Year Clock Now Running on Your Job, Prices and Savings By MoneySavings.ca | Published November 2, 2026 Quick quiz: is Canada's free trade deal with the United States still in place? The honest answer is yes and no. The agreement known here as CUSMA is still in force, but since July 1 it has been on a different footing, and the way it plays out over the next decade matters to your paycheque, your grocery bill and your savings. Most of us missed the moment because nothing visibly changed that day. That is exactly why it deserves a closer look, especially with the federal budget arriving Thursday. The short version: CUSMA did not end. It moved from a long-term deal to a deal that gets reviewed every year until 2036. Roughly 90% of what Canada sells to the U.S. has been crossing the border tariff-free because of it, so each annual review is a chance for that protection to be tested. For households, this is a slow-burn r...
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Global Markets Reel as China Responds to U.S. Tariffs

 


Global financial markets faced a sharp downturn as China announced retaliatory tariffs in response to U.S. President Donald Trump's sweeping trade measures. The Chinese government imposed a 34% tariff on all U.S. imports, mirroring the rate of the U.S. tariffs introduced earlier this week. This move has intensified fears of a global trade war, sending shockwaves through stock markets worldwide.

Major indices, including the S&P/TSX in Canada, experienced significant losses, with futures dropping by 2.7% early Friday. Asian and European markets also saw steep declines, while U.S. stock futures pointed to further losses on Wall Street. The tariffs have raised concerns about a potential global recession, as industries and economies brace for the impact of escalating trade tensions.

Commodities were not spared, with oil prices hitting their lowest levels since the pandemic, and gold—a traditional safe haven—experiencing fluctuations. Economists warn that the ongoing trade conflict could lead to a contraction in global trade volumes, further straining economic growth.

The situation remains fluid, with investors and policymakers closely monitoring developments. The global economy now faces a critical juncture as the repercussions of these tariffs unfold.

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