Local business leadership finds ‘sense of hope’ in U.S. midterm election results

The Winnipeg Jets' historic comeback in an NHL game, with four goals in the final two minutes and an overtime win, has given local business leaders in Winnipeg a sense of hope ahead of the U.S. midterm elections. These elections resulted in Democrats gaining control of both the House and Senate.

According to MMI Group CEO James McGarry, a stable U.S. government with fewer tariffs and less disruption could boost business. He believes the midterm election results will lead to a faster pace of business. Real estate transaction times have lengthened as companies wait to see what changes will occur with U.S. policies.

KayTran Eyewear, an eyeglasses company, decided to purchase warehouse space in Ohio to mitigate the impact of tariffs on their imports from Asia. Kathy Tran-Riese, the company's CEO, said that while the results of the midterm elections did not fundamentally change their strategy, they were prompted to take action due to the unpredictable nature of U.S.-Canada trade relations.

Loren Remillard, president of the Winnipeg Chamber of Commerce, expressed optimism that Canada would emerge as a stronger trading partner following the U.S. government change. He noted that Canadians are now more aware of their own resiliency and agency. Remillard also highlighted the importance of a fair trade deal to provide stability for Canadian businesses.

Winnipeg Mayor Scott Gillingham echoed similar sentiments, hoping for a trade deal that offers stability and concludes the recent trade war with Canada. He emphasized the need for a "fair trade deal" that could provide some stability for Manitoba businesses, particularly manufacturers affected by tariffs.