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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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Trump Warns of ‘National Security Disaster’ if Supreme Court Strikes Down Tariffs

                                            President Donald Trump

President Donald Trump has issued a stark warning that the United States could face an economic and national security disaster if the Supreme Court rules against his sweeping tariff policies. Speaking from the White House, Trump defended his use of emergency powers to impose tariffs on imports from nearly every country, arguing that they are essential to protecting American jobs and strengthening U.S. leverage abroad.

The Supreme Court is currently reviewing whether Trump exceeded his authority under the International Emergency Economic Powers Act (IEEPA) by implementing broad tariffs without congressional approval. Lower courts have already questioned the legality of his actions, setting the stage for a high-stakes decision that could reshape U.S. trade law.

Trump emphasized that tariff revenues have been used to support domestic programs, including a proposed $2,000 payment to lower- and middle-income Americans, while also helping reduce national debt. He credited the tariffs with contributing to a decline in inflation, citing falling food and energy prices since his second term began.

Critics, however, argue that the tariffs have strained relationships with key allies and disrupted global markets. Small businesses and several states have challenged the measures, claiming they are unconstitutional and harmful to consumers.

The Supreme Court’s ruling, expected later this month, could either uphold Trump’s expansive use of tariffs as a cornerstone of his economic and foreign policy or dismantle one of his administration’s most powerful tools. Trump has called the case “one of the most important decisions in the history of the country,” framing it as a matter of national survival.

As the world awaits the verdict, the outcome will not only determine the future of Trump’s trade agenda but also set a precedent for presidential authority in shaping U.S. economic policy.

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