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Democrats Win U.S. Congress: What It Means for Canadian Tariffs and Your Wallet

  Canadian Money Brief • Wednesday, November 4, 2026 Democrats have won control of both the U.S. House and Senate, including seats in states Donald Trump carried by double digits two years ago. For Canadians, the big question is simple: does this end the tariffs? The short answer is not yet. What happened The Associated Press and major U.S. networks called the Senate for Democrats late Tuesday night and the House early Wednesday. Democrats flipped seven Republican-held Senate seats, according to Forbes’ tally of AP calls, including Maine, North Carolina, Iowa, Ohio and Texas. In the House, roughly 75 races were still undecided at last report, and the new Congress does not take over until 2027. Democratic leaders framed the result as a call for change, while news outlets widely described it as a rebuke of President Trump. Trump told the New York Times he was “absolutely willing” to accept the results and said Republicans would work with Democrats. Why it matters in Canada Democrati...
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Biden and Netanyahu Discuss Ceasefire Amid Escalating Tensions in Israel-Gaza Conflict


In a critical development, US President Joe Biden recently engaged in a phone call with Israeli Prime Minister Benjamin Netanyahu as the pressure mounts on both Israel and Hamas to find common ground and reach a ceasefire agreement. Here are the key points from their conversation:

  1. Opposition to Rafah Invasion:

    • President Biden reiterated the US’s clear position opposing Israel’s plans to invade Gaza’s southernmost city of Rafah. This stance comes despite global concern for over one million Palestinians currently sheltering in the area.
    • Thousands of homes in Rafah have already been destroyed by airstrikes, and the threat of a ground invasion looms large.

  2. Ceasefire Talks in Cairo:

    • Talks are set to commence in Cairo, Egypt on Monday to negotiate a potential ceasefire deal.
    • Hamas has confirmed its participation and will send a delegation to the negotiations.
    • An Israeli delegation is also expected to arrive in Egypt to discuss the latest proposals.

  3. Humanitarian Aid and Hostage Release:

    • President Biden emphasized the importance of sustained and enhanced delivery of humanitarian aid to Gaza.
    • The ongoing conflict has severely impacted civilians, aid workers, and hostages.
    • In a previous call, Biden had warned that future US support for Israel would depend on swift steps to protect civilians and aid workers.

  4. Qatar’s Role:

    • Qatar, a key intermediary, has urged both Israel and Hamas to show more commitment and seriousness during negotiations.
    • Qatar played a crucial role in negotiating a brief halt to the fighting in November, leading to the release of dozens of hostages.
    • However, Qatar has recently reassessed its role in the conflict.

  5. Netanyahu’s Response:

    • There has been no official comment from Prime Minister Netanyahu’s office regarding the latest call with President Biden.
    • Netanyahu has previously rejected Hamas’s terms for a ceasefire and hostage-release agreement, calling them “delusional” and complicating efforts to strike a deal.

As the situation remains tense, the international community closely watches the developments in the Israel-Gaza conflict. The hope is that diplomatic efforts will lead to a resolution that brings an end to the prolonged war and ensures the safety and well-being of civilians on both sides.

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