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U.S. Midterms Tuesday: What the Vote Could Mean for the Loonie, Tariffs and Your Portfolio

  Canadian Money Brief | Feature U.S. Midterms Tuesday: What the Vote Could Mean for the Loonie, Tariffs and Your Portfolio By MoneySavings.ca | Published November 1, 2026 Americans vote Tuesday in elections that will fill all 435 House seats and 35 Senate seats. Canadians don't get a ballot, but we do get the consequences: a loonie that swung from an 18-month low to a six-week high in about two weeks, a tariff fight that has put 50% duties on roughly US$20 billion of our exports, and a lot of U.S. stock sitting inside our TFSAs and RRSPs. Here is how to think about all of it without trying to guess the winner. The short version: Nobody can reliably trade an election result. Forecasters lean toward Democrats winning the House, with the Senate closer. But history says the bigger market moves tend to come in the months after the vote, not on election night. For Canadians, the useful steps are practical: convert U.S. dollars in pieces, know how much U.S. stock you hold, and don't...
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China's Bold Counterstrike in Escalating Trade War

China has intensified the global trade war by imposing sweeping tariffs of 34% on all U.S. goods, marking a significant escalation in its economic standoff with the United States. This move comes in response to President Donald Trump's recent "Liberation Day" tariffs, which raised U.S. tariff barriers to unprecedented levels. Beijing's retaliatory measures also include export controls on rare earth materials and the addition of several entities to its "unreliable entity" list.

The repercussions of this trade war are reverberating across global markets, with fears of a recession looming large. Major stock indices have suffered sharp declines, and investment banks are warning of a potential contraction in global trade volumes. As tensions rise, the World Trade Organization has been drawn into the fray, with China filing a lawsuit against the U.S. over its tariff policies.

This escalating conflict underscores the fragility of international trade relations and raises questions about the long-term impact on the global economy. Will cooler heads prevail, or is this just the beginning of a prolonged economic battle? Only time will tell.

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