Canada–Philippines Strategic Partnership: PM Mark Carney and President Ferdinand Marcos Jr. signed four deals in Vancouver covering energy/natural resources, labor & migration, tourism, and culture, with both sides calling it a “strategic partnership” built for a more volatile world. North American Trade Shock: The U.S. declined to renew USMCA/CUSMA in its current form, triggering a review process and adding uncertainty for Canada’s economy tied closely to U.S. exports. Loonie Watch: Reuters polling suggests the Canadian dollar may strengthen less than expected as CUSMA uncertainty cools rate-hike odds. Groceries Benefit Starts: Quarterly Canada Groceries and Essentials Benefit payments begin today, with a boosted payout for eligible lower-income households. NATO Summit in Ankara: NATO leaders meet next week as Europeans try to keep unity with the U.S. under Trump tensions, while pushing defense spending and turning money into combat-ready capability. Global Defence Bank Push: Canada is seeking backing from about 10 founding countries for a proposed Canada-led global defense bank ahead of the Ankara summit. Canada’s Energy Ambition: Ottawa is moving to expand oil exports to Asia via a major Alberta-to-Pacific pipeline plan. Travel Demand Holds Up: Despite high fares, Canadians’ summer travel intentions remain resilient, with more focus on safety and flexibility.