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5 Things to Know Today: Tariffs, a CPI Surprise, and the Mortgage Rate Gap

  July 21, 2026 A new round of US tariffs, a surprise inflation dip, and a widening gap between fixed and variable mortgage rates are all moving in different directions today. Here's what's happening and what it means for your money. 1. Washington hits Canada with new 50% tariffs on everyday goods The White House has announced fresh 50% tariffs on a wide list of Canadian exports, including wine, dairy, furniture, hockey equipment, cement, and clothing. The move is framed as retaliation over Canada's dairy quotas, car import rules, and provincial bans on US alcohol. The tariffs take effect August 19 and apply even to goods that would normally qualify duty-free under CUSMA, though energy, potash, fish, and critical minerals are exempt. What it means for you: This round targets export industries, not imports into Canada, so it won't directly raise shelf prices here the way a Canadian tariff on US goods would. The bigger risk is indirect — job pressure in affected sectors ...
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How to Boost Your Financial Literacy in 5 Easy Steps

Financial literacy is the ability to understand and manage your personal finances. It involves skills such as budgeting, saving, investing, borrowing, and planning for the future. Financial literacy can help you achieve your financial goals, avoid debt, and build wealth.

Why is financial literacy important?

Financial literacy is important because it can help you make informed decisions about your money. Without financial literacy, you may not know how to:

- Create and follow a realistic budget that meets your needs and wants

- Save money for emergencies, retirement, education, or other goals

- Invest your money wisely and diversify your portfolio

- Avoid scams, frauds, and predatory lending practices

- Use credit cards responsibly and pay off your debts on time

- Understand your credit score and how to improve it

- Compare different financial products and services and choose the best ones for you

- Plan for your future and protect your assets


How can you improve your financial literacy?  You can improve your financial literacy by:

- Reading books, articles, blogs, podcasts, or videos about personal finance topics

- Taking online courses or workshops on financial education

- Consulting a financial planner, advisor, or coach who can guide you through your financial journey

- Joining a community or group of people who share your financial interests and goals

- Practicing your financial skills by applying what you learn to your own situation

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