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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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U.S. Diplomacy at a Crossroads: Trump and Rubio Signal Urgency in Russia-Ukraine Peace Talks

In a pivotal moment for international diplomacy, President Donald Trump has called on Russia to halt its attacks on Ukraine, emphasizing the need for immediate action to end the ongoing conflict. Trump's remarks come as U.S. Secretary of State Marco Rubio warns that the United States may reconsider its role in mediating peace efforts if progress remains elusive.

During a recent meeting with Ukrainian President Volodymyr Zelenskyy at the Vatican, Trump expressed frustration over Russia's continued aggression, stating that there was "no reason for Putin to be shooting missiles into civilian areas." Rubio echoed the urgency, describing the coming week as "critical" for determining whether the U.S. will continue its involvement in the peace process.

The stakes are high, with both leaders underscoring the importance of a negotiated settlement to end the war. However, the path forward remains fraught with challenges, as territorial disputes and security guarantees continue to be major sticking points in the negotiations. 

This moment could define the future of U.S. engagement in global conflict resolution, as the administration balances its commitment to peace with the realities of geopolitical complexities.

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