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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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Hurricane Beryl: A Monstrous Category 5 Storm Ravages the Southeast Caribbean

 

Hurricane Beryl, an unprecedented Category 5 storm, has left a trail of destruction in the southeast Caribbean. With its early formation and record-breaking intensity, Beryl has captured global attention. Let’s delve into the impact of this powerful hurricane.

Beryl made landfall in the southeast Caribbean, wreaking havoc on Carriacou, an island in Grenada. As a Category 4 storm, it caused significant damage, claiming lives in Grenada and St. Vincent and the Grenadines. Emergency teams are assessing the extent of destruction, and neighboring islands are bracing for its wrath.

Beryl’s rapid intensification is remarkable. It became the earliest Category 5 storm ever recorded in the Atlantic, fueled by unusually warm waters. Its sustained winds reached a staggering 165 mph (270 kph). The last hurricane of this magnitude to hit the southeast Caribbean was Hurricane Ivan two decades ago.

Currently located about 370 miles southeast of Isla Beata in the Dominican Republic, Beryl is on a west-northwest trajectory. Jamaica, the Cayman Islands, and Mexico’s Yucatan Peninsula are in its path. Although it’s expected to weaken slightly, Beryl remains a major hurricane as it approaches these regions.

Grenadian Prime Minister Dickon Mitchell emphasizes the need to support affected islands. St. Vincent and the Grenadines’ Prime Minister Ralph Gonsalves vows to rebuild despite widespread devastation. Union Island, Myreau, and Canouan face similar destruction, with 90% of homes on Union Island destroyed.

In summary, Hurricane Beryl’s unprecedented strength and path underscore the urgency of preparedness and resilience in the face of extreme weather events. The southeast Caribbean grapples with the aftermath, while neighboring nations brace for impact.


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