Results late in the evening of November 5 showed that U.S. Republican candidate Donald Trump was poised to win back his country’s presidency, leaving many British Columbia business leaders and political observers concerned about the outcome. impact of his rise on Canada.

Fox News predicted Trump to be the winner around 10:45 p.m. Vancouver time. Other American networks have not yet made this call. Many U.S. citizen votes have yet to be counted, and results from many states are still uncertain.

The latest count from Fox News puts Trump at 277 electoral college votes, compared to 226 for Kamala Harris. That leaves 35 electoral college votes to be determined. Candidates need 270 electoral college votes to win the presidency.

Former British Columbia Premier Christy Clark said BIV tonight, his main concern with a Trump victory is the potential impact it would have on what is known in Canada as the Canada-United States-Mexico Agreement (CUSMA).

“This outcome, what it will have on our free trade agreement, will be the most important outcome for Canadians,” Clark said.

Canada, the United States and Mexico must confirm in writing, by July 1, 2026, that they wish to continue the agreement. If one of the countries decides not to renew the agreement, the future of the pact will be in danger.

Failure to renew the agreement would result in a wide new range of protectionist measures and tariffs.

In addition to the tariffs triggered by the end of the trade deal, Trump scared many in the business community on both sides of the border by declaring that he would impose 60 percent tariffs on imported goods from China and at least 10 percent on products imported from China. prices on all other countries.

At times, his calls have focused on 20 percent tariffs on products imported from countries other than China.

Property marketer and director of Rennie, Bob Rennie, said BIV tonight, American tariffs on Canadian products were his main concern.

“The renegotiation of tariffs is inflationary for Americans,” he said. “Limiting immigration and deporting illegal immigrants is inflationary. We will respond.”

Rennie then looked at the stock market app on his iPhone and showed BIV a chart showing that the Canadian dollar had fallen by at least one cent against the U.S. greenback over the previous two hours.

Rennie was the host of a gathering this evening at the Sportsbar at Rogers Arena where many business leaders and politicians gathered. He said BIV that the purpose of the gathering was to stimulate conversations between people across the political spectrum.

“My goal has always been to have diversity in the room,” he said. “We all get along great, so I’m so happy.”

His concerns about the effects of Trump’s tariffs on trade are not new.

TD Bank economist Marc Ercolao, for example, wrote a note on October 24 which suggested that a new 10 percent U.S. tariff on Canadian imports and a 10 percent retaliatory tariff on U.S. exports to Canada could reduce Canadian exports by almost 5 percent by early 2027 .

“As the output gap widens, the Bank of Canada may be forced to further ease interest rates by 50 to 75 basis points, widening the gap with U.S. rates and exerting pressure bearish on the Canadian dollar,” Ercolao said.

The specter of a Trump victory will likely prompt many calls from Harris supporters that they want to leave the country.

Much discussion took place in 2016 among Democrats, who said they would move to Canada if Trump won. Folk singer David Crosby, for example, joked at a concert in Vancouver a few months before the election, that the event was a ruse to explore Vancouver real estate.

Canada’s immigration websites crashed within hours of the previous election results.

“You’re definitely seeing a surge of interest,” said Irene Bloemraad, professor and co-director of UBC’s Center for Migration Studies. BIV This evening.

“The number of people who actually acted on it was very small.”

Bridgitte Anderson, CEO of the Greater Vancouver Board of Trade, said this evening BIV she was concerned about the province’s economy.

“We need to focus on economic growth and stable supply chains,” she said. “When you look at what’s happening at the port (where there’s a lockout) and at Canada Post (where there’s a potential strike), we need to focus on trade and investment. If we don’t, we’re just a small group. trading partner in the world, we will be increasingly left behind at a time when we are already seeing stagnant growth and rising costs. »

Earlier today, BIV reported that BC Lottery Corp’s PlayNow website had odds that showed BC bettors expected Trump to win.

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