Published July 5, 2026 Your morning rundown on the Canadian economy, markets, and money moves — TSX hits a record close, CUSMA talks roll past the deadline, the first CGEB payment lands, and what to expect ahead of the Bank of Canada's July 15 decision. 1. TSX closes at a record high on gold-miner strength The S&P/TSX Composite climbed 0.9% to close at a record 35,275 on Friday, July 3, powered by gold mining stocks. Gold prices firmed after U.S. nonfarm payrolls for June came in at roughly half the expected pace, fuelling bets that the Federal Reserve could turn more dovish. Agnico Eagle, Wheaton Precious Metals, and Barrick all posted solid gains, while financials like Scotiabank and BMO also moved higher on easing oil-supply concerns. Why it matters: if you hold Canadian equity index funds in your TFSA or RRSP, resource and financial-sector strength has been doing a lot of the heavy lifting this year — worth knowing if your portfolio feels more concentrated than you'd...
How U.S. Tariffs on Canada Could Drive Up Prices for Consumers
With the possibility of new U.S. tariffs on Canadian imports, consumers may soon see higher prices on everyday goods. Canada is a key trade partner, supplying everything from raw materials to finished products. If tariffs are imposed, here’s what could get expensive first:
- Lumber & Construction Materials – Canada is the largest foreign supplier of softwood lumber to the U.S. Tariffs could raise homebuilding and renovation costs.
- Vehicles & Auto Parts – Canadian auto plants export billions in cars and parts annually. Higher costs could lead to increased vehicle prices.
- Food & Beverages – From maple syrup to seafood, Canadian agricultural exports would likely see price hikes at U.S. grocery stores.
- Aluminum & Steel Products – These metals are essential for industries like aerospace, construction, and beverage packaging, meaning everything from soda cans to airplanes could get pricier.
- Energy & Fuel – Canada is a major oil and gas supplier. Tariffs on crude oil imports could lead to higher gas prices at the pump.
While the U.S. could use tariffs as a tool for trade negotiations, the economic impact on consumers and industries would be hard to ignore. Whether these measures are implemented remains to be seen, but the potential for price increases is real.
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