Brianne Gardner, senior wealth manager at Velocity Investments, Raymond James Canada, recently joined The Market Online to discuss her thoughts on what to potentially expect from U.S. election results.
As you will see in the full video above, Gardner looks at the potential different impacts on Canada’s economy depending on which presidential candidate, Kamala Harris or Donald Trump, takes office after Tuesday’s election.
Gardner believes a Harris administration might keep many of the policies that Biden has already put in place. Provinces such as Alberta, Manitoba, Ontario, New Brunswick, where really U.S. trade constitutes more than 40 percent of GDP, are going to be more vulnerable to shifts in U.S. trade policy.
Other areas she looks at are the Canada-United States-Mexico Agreement, support for traditional energy sources, Canadian exports and typical market reaction around elections.
“So we do tend to see markets go up double digits the one year following, anywhere between 15 to 17 per cent on average,” Gardner says. “Policy changes like trade agreement modifications or new tariffs do typically require six to 12 months for approvals and implementation.”
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