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CUSMA Review 2026: What Happens on July 1 — and What It Means for Your Wallet

The trade deal that governs nearly $1.3 trillion in Canada-U.S. commerce is up for review in less than a week. Here's what's at stake for Canadian families — and how to protect your budget whatever happens next. By MoneySavings.ca Staff  |   June 25, 2026 Canada Day is almost here — and this year, July 1 carries a lot more weight than fireworks and barbecues. On that same date, Canada, the United States, and Mexico are required to sit down for the first mandatory review of the Canada–United States–Mexico Agreement , known in Canada as CUSMA (and in the U.S. as the USMCA). The outcome of these talks will help shape the price of your groceries, your next car payment, Canadian jobs, and the overall cost of living for years to come. If you've heard the buzz but aren't sure what it all means for your household budget, you're in the right place. Here's your plain-language breakdown. What Is CUSMA — and Why Should You Care? CUSMA replaced the old NAFTA deal in 2020 an...
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Senate Republicans Advance Trump's Tax Cut Agenda Amidst Controversy


In a significant political move, U.S. Senate Republicans have passed a budget blueprint aimed at extending President Donald Trump's 2017 tax cuts. The measure, approved after an intense late-night session, allows Republicans to bypass the Senate's filibuster and proceed with tax, border security, and military priorities without Democratic support.

The blueprint proposes making the 2017 tax cuts permanent, which reduced the corporate tax rate from 35% to 21%. However, the individual tax cuts, set to expire this year, are also included in the plan. Critics argue that the measure could add $5.7 trillion to the federal debt over the next decade, though Republicans estimate the cost at $1.5 trillion.

Democrats have voiced strong opposition, warning that the plan could jeopardize Medicaid and other essential programs. Senate Democratic Leader Chuck Schumer criticized the move as favoring the wealthy at the expense of middle-class Americans.

The measure now heads to the Republican-led House of Representatives for further debate. Its passage marks a pivotal step in advancing Trump's economic agenda, though it faces significant scrutiny and potential hurdles in the coming weeks.

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