The Trump administration is expected to formally declare on Wednesday that it will not extend the US-Mexico-Canada Agreement on trade, starting a decade-long clock to wind down the 32-year-old North American free trade zone. That declaration will kick off a six-year review session, part of a “sunset clause” negotiated by President Trump’s first administration. However, it will do little to alter contentious negotiations over the pact’s future, including sweeping demands to boost US content in automotive production and trade protections to block Chinese goods. …Trade chiefs from the US, Mexico and Canada are expected to meet virtually on Wednesday and declare whether they want to extend the pact for another 16 years. …Failure to reach agreement on revisions to USMCA would keep the trade pact in an indefinite limbo, with similar review sessions annually for the next 10 years. …The review and sunset process is separate from a termination clause that the US could exercise, triggering a withdrawal within six months.
Related coverage by:
- Kelly Malone, Canadian Press: Trade pact set to stay in place as US blows past key deadline
- Daniel Desrochers in Politico: Trump ‘hates’ his own trade deal. But he’ll have a hard time killing it
- Shawn Jeffords in CBC News: Businesses and unions are balancing anxiety and hope for CUSMA
Corporate bosses are more relaxed about tariffs now than at any time since US President Trump’s return to power unleashed a spate of trade policy chaos. The share of corporate earnings calls in which tariffs were mentioned has fallen to the lowest level since Mr. Trump won the 2024 election, according to an analysis of transcripts. …The same pattern has played out on both sides of the border, even though companies have plenty of reasons to remain anxious on the trade front. The USMCA is set to enter uncharted territory on July 1. …Steep sectoral duties remain in place. …Meanwhile, Mr. Trump is expected to launch a wave of hefty tariffs next month to replace temporary duties he imposed after the U.S. Supreme Court struck down his earlier emergency tariffs. [to access the full story a Globe and Mail subscription is required]
WASHINGTON – President Trump said he hasn’t decided whether he will sign a bipartisan housing bill, dismissing the landmark affordable housing legislation as “a big yawn” and “so unimportant” compared to an unrelated bill he supports to overhaul voting in elections. Trump told reporters on Monday, June 29 that he won’t make a decision on The 21st Century Road to Housing Act until it arrives on his desk. The president abruptly canceled a signing ceremony last week for the housing bill and said he won’t sign it until Congress passes the SAVE America Act ‒ a stalled bill he backs that would require photo identification and proof of citizenship to vote in federal elections and prohibit universal mail-in voting across the country. …The housing bill is the first major piece of legislation that passed Congress in more than three decades to address the nation’s affordable housing crisis.
A sprawling legislative package aimed at lowering the cost of housing and spurring more home construction won bipartisan approval from Congress this week, but it’s hit a major roadblock in becoming law: President Trump. The White House supported the 
The U.S. goods trade deficit is widening, the Commerce Department said Friday, suggesting stockpiling ahead of higher tariffs and a continued reliance on imports for the domestic data center rollout, analysts say. The goods trade deficit for May jumped more than $20 billion to $105.8 billion, up from $83 billion in April, according to 
A closely watched inflation report is set to reveal how much price growth picked up in May — and whether many American consumers remain mired in an affordability crunch. Wall Street forecasters expected the pace of personal consumption expenditures (PCE) to have quickened compared with April data amid higher oil prices and stronger consumer spending. The monthly PCE report is the Federal Reserve’s preferred inflation gauge. New Fed Chairman Kevin Warsh has said the central bank is committed to bringing inflation back to its 2% target — a level it has failed to reach for the past five years. Wall Street now anticipates the Fed will raise its key interest rate at least once by year’s end in a bid to counteract the stronger price growth.
ATLANTA — At 
A new lawsuit challenging a logging project in Oregon threatens to unravel the management plans governing hundreds of millions of acres of federal public land. At stake are thousands of leases and permits covering billions of dollars of economic activity — including mining, drilling, grazing, logging, ski resorts, wind and solar projects, outdoor recreation, hunting and fishing. If successful, the lawsuit could throw the management of huge swaths of the West into chaos. Some experts fear the new legal uncertainty around federal agencies’ management authority could unleash a tsunami of lawsuits targeting everything from mining to the conservation of wildlife habitat. “When you throw that whole system into chaos, it’s a problem whether you’re the oil and gas industry or the timber industry,” said Susan Jane Brown, the attorney who filed the lawsuit and serves as principal at Silvix Resources, a nonprofit environmental law firm.
Forest fires now burn ten times more acreage annually than in 1985, while wildfire severity has gotten even worse. In California, 30 times more acreage burned from high-severity, forest-killing fires, according to new UCLA research. In the 1980s and 1990s, California’s forest fires burned mostly at low or moderate severity, generally benefiting ecosystems. But as fires have grown in size, severe fires causing widespread tree death have overtaken beneficial fire as the most common fire type in California’s forests. Changes are tied to the increasingly warm and arid environment. These aridity-driven changes were also stronger in more densely forested areas, said senior author Park Williams. …The two main causes for the increase in fire severity are fuel density [and] environmental dryness. …The researcher’s conclusions show that the state can make some headway in protecting California’s forests with changes in forest management, such as doing more manual clearing of underbrush and conducting more prescribed burns.
LONDON — The United States accounted for about a third of the rise in global carbon emissions in 2025, as higher gas prices pushed power producers back to coal, an Energy Institute report showed. Highlights from the report include:
Ithaca, NY — Forests and land play an important role in absorbing carbon dioxide emissions, but current models and forecasts don’t incorporate a new and surprising ecological discovery: Despite more available carbon, climate change and warmer temperatures are slowing forest growth. A new study considers for the first time the impact of the discovery on climate models, finding that one of the most-used land models for determining the impacts of climate change may overestimate forests’ future potential for carbon storage by as much as 30%. “Knowing how well the land will be able to keep taking up carbon in the future is really important,” said first author Brendan Clark. “But the land models are probably underestimating the effects of hotter, drier air on actual growth.” …Clark first learned about the new ecological findings from co-author and ecologist Shan Kothari, at the University of Alberta, and immediately wondered how they might impact climate models. 
