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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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Liberal Ranks Grow as Michael Ma Joins Carney’s Team

 

                Markham-Unionville MP Michael Ma crossed the floor to join the Liberals on Thursday.


In a dramatic political shift on Parliament Hill, Michael Ma, the Member of Parliament for Markham–Unionville, announced on December 11, 2025, that he is leaving the Conservative caucus to sit with the Liberals. His decision follows weeks of consultation with constituents and family, and comes on the heels of Nova Scotia MP Chris d’Entremont’s defection last month.

Ma explained that his move was motivated by a desire for “unity and decisive action for Canada’s future.” He praised Prime Minister Mark Carney’s leadership, describing it as a steady and practical approach to tackling pressing issues such as affordability, economic growth, community safety, and opportunities for young families.

The floor-crossing is politically significant: the Liberals now hold 171 seats, just one short of a majority in the House of Commons. This strengthens Carney’s hand in advancing his legislative agenda and signals growing cracks within the Conservative ranks.

Ma’s personal story adds weight to his decision. Having immigrated to Canada at age twelve as the youngest of seven children, he emphasized values of hard work, resilience, and building opportunities for others—principles he believes align more closely with the Liberal vision at this time.

The move underscores a broader trend of instability within the Conservative caucus. Alongside d’Entremont’s earlier departure, Ma’s defection raises questions about the party’s internal cohesion and its ability to present a united front against the governing Liberals.

For Carney, the addition of Ma is both symbolic and strategic. It bolsters the Liberals’ numbers in Parliament and sends a message of momentum as the government seeks to consolidate power. For the Conservatives, however, it represents another high-profile loss that could deepen internal divisions and prompt further soul-searching about the party’s direction.


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