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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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Israeli War Cabinet Member Threatens to Quit Unless There’s a New Gaza Plan


In a significant development, Benny Gantz, a popular centrist member of Israel’s three-member War Cabinet, has threatened to resign from the government if it doesn’t adopt a new plan for the war in Gaza within the next three weeks. This decision would leave Prime Minister Benjamin Netanyahu more reliant on far-right allies. The ongoing war has stretched for more than seven months, during which Israel has yet to achieve its stated goals of dismantling Hamas and securing the return of scores of hostages abducted during the militant group’s October 7 attack.

Gantz has outlined a six-point plan that includes the following key elements:

  1. Return of Hostages: Ensuring the safe return of the abducted hostages.
  2. Ending Hamas’ Rule: Aiming to dismantle Hamas’ control in Gaza.
  3. Demilitarizing Gaza: Reducing the military capabilities of armed groups in the region.
  4. International Administration of Civilian Affairs: Establishing an international body to oversee civilian affairs in Gaza, with cooperation from American, European, Arab, and Palestinian stakeholders.
  5. Efforts to Normalize Relations with Saudi Arabia: Seeking to improve diplomatic ties with Saudi Arabia.
  6. Widening Military Service: Expanding mandatory military service to include all Israelis.

Gantz has set a deadline of June 8 for the adoption of this plan. He warned, “If you choose the path of fanatics and lead the entire nation to the abyss — we will be forced to quit the government.” In response, Netanyahu criticized Gantz for issuing an ultimatum to him rather than to Hamas, dismissing the conditions as “euphemisms” for Israel’s defeat.

This development highlights the deepening divide within Israel’s leadership and underscores the challenges faced in achieving a resolution to the conflict in Gaza. As the situation continues to evolve, the world watches closely to see how these tensions will impact the region’s stability and prospects for peace.


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