Skip to main content

Featured

5 Things to Know Today: Midterms Day, Oil Plunge, Trade Deal, Budget (Nov 3)

  Canadian Money Brief • Tuesday, November 3, 2026 It’s Election Day in the United States, oil just had its biggest one-day drop since late July, and Ottawa tables its budget on Thursday. Here are five things to know today, and what each one means for your wallet. 1. U.S. midterms: Canada is watching Americans vote in the midterm elections today. Markets are expecting Democrats to win the House of Representatives, while control of the Senate is still uncertain. Trade policy has been a campaign issue, especially in border states such as Michigan and Maine, where Republican candidates have faced pressure over tariffs that have hurt local businesses. What it means for you: The result could move the loonie, the TSX and the tariff talks over the coming days, but one election night is rarely a reason to rebuild your TFSA or RRSP. If you need to convert Canadian dollars to U.S. dollars soon, expect choppy exchange rates. 2. Oil plunges on Iran diplomacy, then bounces Oil fell sharply o...

article

Tariffs, Trade & Ties: Modi’s Diplomatic ‘Gift’ to Trump

Indian Prime Minister Narendra Modi arrived in Washington with a well-calculated strategy aimed at strengthening the U.S.-India relationship while averting new tariff threats from the Trump administration. In a visit marked by a series of high-level meetings, Modi is expected to offer concessions ranging from increased purchases of U.S. defense equipment—including combat vehicles and jet engines—to greater imports of liquefied natural gas and American agricultural products.

The Indian leader’s visit comes at a critical juncture. Trump, still in the early days of his presidency, has been vocally critical of India’s high tariffs—often branding the country as a “tariff king”—and has indicated plans for reciprocal measures that could affect American consumers and global trade balances. In response, New Delhi has made adjustments, reducing duties on select goods such as Harley-Davidson motorcycles and opening doors to deeper negotiations on key sectors like electronics, medical supplies, and chemicals.

Both leaders appear to be leveraging their established rapport—built during Modi’s previous interactions in Washington—to navigate these contentious issues. While Trump is looking to reshape trade dynamics and bolster U.S. economic interests, Modi’s visit is equally focused on cementing a strategic partnership that balances economic imperatives with broader geopolitical concerns, especially in countering China’s influence in the Indo-Pacific region.

This diplomatic engagement highlights the complex interplay of trade, tariff negotiations, and strategic alliances at a time when both nations are seeking to recalibrate their relationship amidst global economic uncertainties.


Comments