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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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The Ripple Effect: How Trump's Tariffs Are Reshaping the Global Economy

The global economy is starting to feel the weight of tariffs imposed during Donald Trump's presidency. These trade barriers, aimed at protecting domestic industries, are now causing significant ripple effects across international markets.

The tariffs, initially introduced to boost American manufacturing, have resulted in retaliatory measures from key trading partners. Countries affected by U.S. duties have responded with their own tariffs, leading to disrupted supply chains and increased costs for businesses worldwide. Many industries, from technology to agriculture, are experiencing financial strain as they navigate these new trade hurdles.

For consumers, the impact is also noticeable. Prices on imported goods have risen, forcing households to adjust their spending. Economists warn that prolonged trade tensions could slow global growth, as uncertainty keeps businesses from investing and expanding.

Despite efforts to renegotiate trade deals, the lingering effects of Trump's tariffs remain a challenge. As global markets adapt to these policies, businesses and governments alike must find ways to mitigate their consequences while maintaining economic stability.



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