Start your day off right with five things you need to know this morning.
Five things you need to know
German firm TKMS has won the race to build Canada's new fleet of submarines, according to a report in the Globe and Mail newspaper. Prime Minister Mark Carney is set to announce the decision in Halifax today, with South Korea's Hanwha missing out on the lucrative 12-vessel contract to the European manufacturing giants. The deal for TKMS is expected to be worth up to $30 billion for construction and up to $50 billion for maintenance.
Government picks Germany’s TKMS to build Canada’s new submarines, sources say https://t.co/4gCNOtbNnA
— Globe Politics (@globepolitics) July 6, 2026
Canada-US Trade Minister Dominic LeBlanc has admitted Ottawa is in "uncharted territory" after the Trump administration's decision to reject the renewal of the CUSMA deal and initiate a 10-year period of annual reviews of the crucial treaty. LeBlanc said his government has no "predictability about the annual review process" since it is "not typical for this kind of agreement." He added: "One of the difficulties since Mr. Trump arrived is precisely these uncertainties ... I remain confident that we’ll reach a bilateral agreement and that we’ll reduce the uncertainty surrounding the CUSMA review, but we’ll do the work over the summer to put ourselves in that position."
LeBlanc says Canada seeking clarity after U.S. opts for annual CUSMA reviewhttps://t.co/Fc3LV04akb
— CityNews Halifax (@CityNewsHFX) July 6, 2026
Soccer fans and officials are in uproar after a US player at the FIFA World Cup was given permission to play in his team's next game despite receiving a red card, which according to the organization's rules results in a mandatory suspension. US President Donald Trump said today he intervened to guarantee American star player Folarin Balogun could play against Belgium on Monday despite being sent off in the previous game. UEFA, the official soccer body for Europe, said the extraordinary decision was "incomprehensible and unjustifiable," while Norway's coach said the move was "bad, bad, bad, bad, bad."
FIFA criticized for decision to lift U.S. star's red card suspension following Trump phone call https://t.co/sEhF87xE7v
— CBS Mornings (@CBSMornings) July 6, 2026
The industrial carbon tax regime kept in place by the Liberal Party has pushed the cost of producing a marginal barrel of crude oil in Alberta up to US$75, according to a new study from the Fraser Institute think tank. "With a carbon tax at $170, oil sand investments are somewhat tax disadvantaged," the report explains, with new projects in Texas and New Mexico now more competitive destinations compared with the oil sands. It goes on: "As Alberta’s effective carbon tax rate is increased by raising the rate and/or limiting allowances, both oil and natural gas production will be heavily disadvantaged compared to Texas."
The latest poll from Abacus Data, meanwhile, puts the Liberals on 44 per cent compared with the Tories' 36 per cent. That's despite more Canadians – 44 per cent – saying they think the country is on the wrong track than on the right track (42 per cent).
Our latest Abacus Data tracking poll finds very little movement in Canadian politics.
— David Coletto 🇨🇦 (@DavidColetto) July 6, 2026
Liberals remain at 44%, Conservatives at 36%, and Carney’s government approval stays firmly positive.
The country hasn’t become more optimistic. But it hasn’t turned against the government… pic.twitter.com/lziPlwOtG7
