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If the Canada-U.S.-Mexico free trade deal, also known as CUSMA, breaks down, it would lead to more than 100,000 job losses in Canada and more than twice that in the United States, a new report by an industry group is warning. In July, Washington said it won’t renew the deal, known as USMCA in the U.S., in its current form. That means the trade deal must be reviewed annually, adding to the volatility and economic uncertainty facing businesses. At the same time, the clock is ticking ahead of a fresh round of U.S. tariffs.U.S. President Donald Trump has vowed to hit Canada with new sweeping 50 per cent tariffs on a wide range of goods, which are set to land on Aug. 19.A lot is riding on the deal being renewed, a new report by the Canadian American Business Council warns. Story continues below advertisement “Successful renegotiation of USMCA would create an additional 137,000 American jobs and 98,000 Canadian jobs in 2027 relative...

If the Canada-U.S.-Mexico free trade deal, also known as CUSMA, breaks down, it would lead to more than 100,000 job losses in Canada and more than twice that in the United States, a new report by an industry group is warning. In July, Washington said it won’t renew the deal, known as USMCA in the U.S., in its current form. That means the trade deal must be reviewed annually, adding to the volatility and economic uncertainty facing businesses. At the same time, the clock is ticking ahead of a fresh round of U.S. tariffs.U.S. President Donald Trump has vowed to hit Canada with new sweeping 50 per cent tariffs on a wide range of goods, which are set to land on Aug. 19.A lot is riding on the deal being renewed, a new report by the Canadian American Business Council warns. Story continues below advertisement “Successful renegotiation of USMCA would create an additional 137,000 American jobs and 98,000 Canadian jobs in 2027 relative...

As trade talks aimed at avoiding fresh U.S. tariffs continue, a new report is warning that the breakdown of the Canada-U.S.-Mexico Agreement would lead to hundreds of thousands of job losses and major economic impacts on both sides of the border.The report, prepared for the Canadian American Business Council by Oxford Economics — an independent economic advisory firm — and released Monday, analyzed the likely result of three different outcomes of the ongoing trade talks between the U.S. and Canada.The scenarios were a status quo situation where current tariffs remain in place, a scenario where the CUSMA agreement breaks down, and one where CUSMA is successfully renegotiated and the trading relationship improves.In the event that CUSMA were to end, a projected 214,000 American and 102,000 Canadian jobs would be lost, the report said, compared to the status quo scenario.But if CUSMA were renegotiated successfully, the U.S. and Canada stand to add jobs — 137,000 and 98,000 of them, respectively."It means...

The U.S. economy lost 23,000 nonfarm payroll jobs in July, marking the first monthly decline since February 2026, according to the Bureau of Labor Statistics. The unexpected employment loss came as the unemployment rate fell to 4.1% from 4.2% in June—a decline driven largely by workers leaving the labor force rather than finding jobs. Economists had projected payroll gains of around 83,000 jobs for July. The shortfall was compounded by significant downward revisions to prior months: May and June employment figures were lowered by a combined 103,000 jobs, with May’s gain cut by 66,000 to 129,000 and June’s reduced by 37,000 to 57,000. The July employment decline signals a cooling labor market after several months of modest growth. The 12-month average for nonfarm payroll job gains stands at 34,000 per month, well below the pace seen in prior years. Government payrolls contracted by 53,000 jobs in July, with the sector’s June gain of 8,000 revised downward to a loss of 10,000 jobs. Labor...

Italian aluminum die casting company 2A USA is expanding its Auburn manufacturing facility with a $32 million investment, Gov. Kay Ivey announced Wednesday.The expansion will create 50 jobs and increase the company’s capacity to cast and machine complex, large aluminum components for the heavy truck industry.“Advanced manufacturing is a pillar of Alabama’s economy and 2A USA’s presence and growth in our state is a testament to its products and company standards,” Ivey said. “It is also a strong vote of confidence in Alabama’s workforce and our pro-business environment.”The Tier I automotive supplier arrived in Alabama in 2014 after acquiring an existing plant in Auburn Technology Park West. The company installed state-of-the-art die-casting and machining equipment at the facility before investing another $15 million in an expansion in 2019.Commerce Secretary Ellen McNair called the company’s continued growth a success story for foreign investment in Alabama.“Foreign investments play a key role in Alabama’s economy and 2A’s expansion highlights what is possible when...

Job hunters were off to a bad start in 2026, with hiring rates dropping to pandemic-era lows. But looking ahead, U.S. businesses are poised to beef up their headcounts—and workers in HR, tech, and healthcare are most in demand. Around two-thirds (66%) of U.S. employers plan to increase permanent hiring in the second half of this year, according to recent data from staffing firm Robert Half.  That’s up from 60% who said the same in the first half of this year, and an even bigger bump from the 57% one year ago. Plus, 56% of American employers say they’ll be adding contract talent to help unlock specialized skills that have been in short supply; nearly half have had to cancel projects due to a skills gap. They can no longer afford to hold out. Michelle Reisdorf, district director at Robert Half, tells Fortune that employers seem to have reached a boiling point where waiting longer to hire “isn’t really an option” anymore.  “They have...

A new report says 100,000 jobs in Canada and more than 200,000 jobs in the U.S. could be lost if the Canada-U.S.-Mexico trade deal falls apart. It comes as Canada’s top negotiators are once again in Washington trying to work out a trade deal before the Trump administration introduces another round of punishing tariffs on our country. Advocating for cross-border commerce, a new report from the Canadian American Business Council warns 102,000 jobs in Canada may be lost if the CUSMA trade pact dies. And the job losses in the U.S. would be 214,000 next year alone. “If CUSMA was broken, Canada would be facing, in today’s environment, something probably in the range of 10 to 15 per cent on all of our exports … that absolutely would destroy a lot of jobs, and it would be very painful for the United States as well,” said Joseph Steinberg, a University of Toronto economics professor and trade and tariff expert. Manufacturing jobs directly impacted by American...