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CUSMA Review 2026: What Happens on July 1 — and What It Means for Your Wallet

The trade deal that governs nearly $1.3 trillion in Canada-U.S. commerce is up for review in less than a week. Here's what's at stake for Canadian families — and how to protect your budget whatever happens next. By MoneySavings.ca Staff  |   June 25, 2026 Canada Day is almost here — and this year, July 1 carries a lot more weight than fireworks and barbecues. On that same date, Canada, the United States, and Mexico are required to sit down for the first mandatory review of the Canada–United States–Mexico Agreement , known in Canada as CUSMA (and in the U.S. as the USMCA). The outcome of these talks will help shape the price of your groceries, your next car payment, Canadian jobs, and the overall cost of living for years to come. If you've heard the buzz but aren't sure what it all means for your household budget, you're in the right place. Here's your plain-language breakdown. What Is CUSMA — and Why Should You Care? CUSMA replaced the old NAFTA deal in 2020 an...
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Carney Departs White House Without Deal as Trade Talks Press On

Canada's Prime Minister Mark Carney waves next to U.S. President Donald Trump at the White House in Washington, D.C., U.S., October 7, 2025

Canadian Prime Minister Mark Carney left the White House on Tuesday without securing a breakthrough in trade negotiations with U.S. President Donald Trump, though both sides pledged to keep discussions alive.

The high-stakes meeting, Carney’s second visit to Washington in five months, came amid mounting pressure in Canada to ease U.S. tariffs on steel, aluminum, autos, and other key exports. While the two leaders exchanged warm words and even lighthearted jokes — including Trump’s quip about a potential “U.S.-Canada merger” — the talks yielded no concrete relief for Canadian industries battered by tariffs.

Trump described the negotiations as “complicated” but insisted Canada would be “very happy” with an eventual deal. Carney, for his part, emphasized that while the two economies often compete, they are “stronger together” and must continue working toward a fair agreement.

Analysts noted that the absence of a deal was not unexpected, with officials on both sides suggesting that the continuation of dialogue itself should be seen as progress. Still, Carney faces growing domestic criticism, with opposition leaders warning that repeated concessions without results risk undermining Canada’s economic position.

For now, the talks remain ongoing, with officials signaling that further negotiations will take place in the coming weeks.


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