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5 Things to Know Today: Tariffs, a CPI Surprise, and the Mortgage Rate Gap

  July 21, 2026 A new round of US tariffs, a surprise inflation dip, and a widening gap between fixed and variable mortgage rates are all moving in different directions today. Here's what's happening and what it means for your money. 1. Washington hits Canada with new 50% tariffs on everyday goods The White House has announced fresh 50% tariffs on a wide list of Canadian exports, including wine, dairy, furniture, hockey equipment, cement, and clothing. The move is framed as retaliation over Canada's dairy quotas, car import rules, and provincial bans on US alcohol. The tariffs take effect August 19 and apply even to goods that would normally qualify duty-free under CUSMA, though energy, potash, fish, and critical minerals are exempt. What it means for you: This round targets export industries, not imports into Canada, so it won't directly raise shelf prices here the way a Canadian tariff on US goods would. The bigger risk is indirect — job pressure in affected sectors ...
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Tech Relief: U.S. Exempts Electronics from Latest Tariffs

In a significant move, the U.S. government has decided to exempt smartphones, computers, and other electronics from its latest round of tariffs. This decision, announced by U.S. Customs and Border Protection, provides much-needed relief to major technology firms like Apple and Dell Technologies, as well as chip manufacturers such as Nvidia.

The exemptions cover 20 product categories, including laptops, hard drives, memory chips, and flat-panel monitors. These items, primarily imported from China, will no longer be subject to the steep 125% reciprocal tariffs or the 10% baseline tariffs on imports from other countries. This move is expected to ease the financial burden on consumers and tech companies alike, especially as many of these products are not manufactured domestically.

Analysts have hailed the decision as a positive step for the tech industry, which has been grappling with uncertainties due to ongoing trade tensions. Dan Ives, a Wedbush Securities analyst, described the announcement as "bullish news" for tech investors. 

The exemptions reflect an awareness of the potential impact of tariffs on inflation-weary consumers and the broader economy. While the trade war between the U.S. and China continues, this decision offers a temporary reprieve for the tech sector. 



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