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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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Escalation in South Asia: India Strikes Pakistan Over Kashmir Attack, Islamabad Vows Retaliation

In a dramatic escalation of tensions between two nuclear-armed neighbors, India launched missile strikes on Pakistan early Wednesday, targeting what it described as terrorist infrastructure in response to a deadly attack on Hindu tourists in Indian-administered Kashmir last month. The attack, which claimed 26 lives, has been blamed on Pakistan-based militant groups, though Islamabad denies involvement.

Pakistan has condemned the strikes as a “blatant act of war”, reporting that at least 26 people were killed and 46 injured in the Indian assault. Pakistani officials claim that civilian sites, including mosques, were among the targets, contradicting India's assertion that it exercised “considerable restraint” in selecting its targets. 

The situation has sparked international concern, with UN Secretary-General António Guterres urging both nations to exercise military restraint. Meanwhile, Pakistan has vowed to retaliate, stating that it reserves the right to respond at a time and place of its choosing. 

With both sides exchanging heavy artillery fire across the contested Kashmir region, fears of a broader conflict loom large. The world watches anxiously as diplomatic efforts attempt to de-escalate the crisis. 


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