Three Things We’re Watching This Week

1. Commission-free ETFs
In recent years, more and more investors are turning to exchange-traded funds (ETFs). These funds make it easy to create a long-term portfolio; try out an investing idea, such as moving into tech stocks or European equities; or both. The beauty of ETFs is that they’re bought and sold just like stocks – you can pick one at any point during the trading day and execute a trade from your brokerage account, the same way you would when buying stock in a company. Until recently, RBC Direct Investing users had to pay a commission on that trade, but that’s changing. You can now buy and sell more than 50 ETFs at no cost on the RBC Direct Investing platform, including popular equity, bond, commodity and crypto funds.

What we’re watching out for: This is good news for ETF investors as the move will help lower costs and help ensure your money is working even harder for you. More broadly, a move like this should ultimately give investors more choice about what to put into their portfolios.

2. The tariff deadline

There’s both good news and bad news on the tariff front. First the good news: At the recent G7 summit in Kananaskis, Alberta, Prime Minister Mark Carney said that Canada hopes to reach a trade deal with the U.S. within the next month to ease trade tensions between the two nations.¹ The U.S. and China appear to be looking to de-escalate tensions as well. China will reportedly provide the U.S with access to rare earth elements, while the U.S. plans to resume issuing visas for Chinese students.² The U.K. and U.S. also have a framework for an agreement in place. Now for the bad news: On June 5, the U.S. doubled global tariffs on steel and aluminum to 50%, which is problematic for major exporters like Canada. The overall U.S. tariff rate on Canadian goods now stands at 5.8 per cent, up from 4.1 per cent.³

What we’re watching out for: Countries are racing to strike new trade deals with the U.S. before July 9, when the temporary pause on the import levy is set to be lifted. The question is what to make of that deadline. U.S. trade representatives have already said they may extend the pause on tariffs if countries are negotiating in good faith, although as Eric Lascelles points out in his latest MacroMemo,⁴ the U.S. may not want to follow through on its threat to raise tariffs because it could be quite painful to its economy.

3. Lewis Howes on rethinking wealth

In this podcast episode of Networth & Chill, guest and former pro-athlete Lewis Howes unpacks the mindset shifts that helped him rebuild after major life setbacks—including living on his sister’s couch—before going on to launch a multi-million-dollar business. He explores how habits like emotional discipline, self-awareness and reframing setbacks may help support long-term goals better than focusing on income alone. It’s a candid conversation about redefining what “wealth” means and how internal factors—from mindset to resilience—can shape the way we navigate money, career and life.

What we’re watching out for: If you're reflecting on your own approach to money this summer, our latest roundup of summer content offers a curated mix of books, podcasts and games that explore decision-making, behavioural biases and how we interact with money. From titles like “Nudge” to games like Stockpile, our list is designed to spark curiosity whether you're beachside, in transit or enjoying a quiet afternoon. It’s the kind of content your future self might thank you for.

Sources

^1. _{CBC News, "Carney and Trump commit to reaching trade deal within 30 days", June 2025}

^2. _{RBC Global Asset Management, "MacroMemo - June 17 – July 7, 2025", June 2025}

^3. _{RBC Global Asset Management, "MacroMemo - June 17 – July 7, 2025", June 2025}

^4. _{RBC Global Asset Management, "MacroMemo - June 17 – July 7, 2025", June 2025}