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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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Trade Tensions Ignite Challenges for the US Dollar


The US dollar, long perceived as a symbol of strength in the global economy, is finding itself in turbulent waters. Former President Donald Trump's tariff policies, which aimed to reshape international trade dynamics, have inadvertently set off a series of economic ripples. These tariffs, targeting imports from key trading partners, sparked retaliatory measures, creating uncertainty in global markets.

The trade disputes have influenced the value of the US dollar by altering currency flows and investor confidence. While some industries saw temporary benefits from protectionist measures, others faced rising costs and disrupted supply chains, adding pressure on the domestic economy. The international response to these policies has also reshaped alliances and market relationships, further affecting the dollar's global standing.

As countries navigate this complex economic environment, the stability of the US dollar remains a central concern, highlighting the intricate link between trade policies and currency dynamics. The ongoing trade turmoil serves as a reminder of the delicate balance required in global economic strategy.



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