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CUSMA Not Renewed: What the Trade Deal Impasse Means for Your Wallet

  July 2, 2026 | Trade & Economy The mandatory six-year review of Canada's most important trade agreement came and went this week — and it did not go the way Ottawa hoped. On July 1, U.S. Trade Representative Jamieson Greer confirmed that the United States will not renew the Canada-United States-Mexico Agreement (CUSMA) in its current form, sending the deal into a more uncertain, year-by-year footing right as Canadians are already navigating tariffs, a soft labour market, and a technical recession. Here is what actually happened, why it matters, and what it could mean for your budget in the months ahead. The short version CUSMA isn't dead. It remains legally in force until 2036. But instead of locking in a fresh 16-year term, the deal now shifts into annual reviews, with existing tariffs on steel, aluminum, autos and softwood lumber unresolved for now. What happened on July 1 CUSMA was built with a mandatory joint review every six years. If Canada, the U.S. and Mexico had a...
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Tech Stocks Surge Amid Tariff Relief: A Premarket Rally

Wall Street is buzzing as U.S. stock futures climb, fueled by a temporary reprieve on tariffs for certain electronics. The White House announced exemptions for smartphones, computers, and other consumer electronics, sparking optimism among investors. Tech giants like Apple and Nvidia saw significant premarket gains, with Apple rising 4.7% and Nvidia up 2.1%.

While the exemptions offer a short-term boost, uncertainty looms as President Trump hinted at upcoming tariffs on semiconductors. Analysts remain cautious, noting the potential impact on economic growth and inflation. Despite this, the Nasdaq 100 futures jumped 1.46%, reflecting the market's positive sentiment.

This rally comes after a week of volatility, with the S&P 500 recording its biggest weekly gain since November 2023. As earnings season kicks off, investors will closely monitor corporate results and economic data for further insights.



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