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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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Power begins to return after huge outage hits Spain and Portugal, Cause Still Unclear

 

Power has been almost fully restored across Spain and Portugal following one of the most significant blackouts in European history. The outage, which began on April 28, 2025, disrupted daily life for millions, grounding flights, halting metro systems, and leaving cities in darkness. By early April 29, over 99% of energy demand in Spain and all power substations in Portugal were back online.

Despite the restoration efforts, the root cause of the blackout remains a mystery. Initial investigations have ruled out cyberattacks and sabotage, with experts pointing to potential anomalies in the interconnected European power grid. Spanish and Portuguese authorities continue to work closely with energy operators to determine the exact sequence of events that led to the unprecedented outage.

As life returns to normal, questions linger about the resilience of the region's power infrastructure and the measures needed to prevent future disruptions. For now, the Iberian Peninsula breathes a sigh of relief as lights flicker back on and daily routines resume.

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