Donald Trump was elected the 47th president of the United States, a massive comeback for a former president.

With a win in Wisconsin, Trump cleared the 270 electoral votes needed to clinch the presidency.

The victory validates his approach to politics. He attacked his Democratic rival, Kamala Harris, throughout the campaign. His approach resonated with voters.

Vice President Kamala Harris underperformed across the country, falling behind in several swing states that Joe Biden had won.

“I want to thank the American people for the extraordinary honour of being elected your 47th president and your 45th president,” Trump told supporters.

He served as the 45th president from 2017 to 2021 and is the current president-elect. He is expected to take office as president on Jan. 20, 2025.

Trump lost the 2020 presidential election to Biden.

As reported by CTV News, Trump’s impending return to the White House casts a spotlight on Canada-U.S. economic ties. Some Canadian business leaders have expressed concern over his promise to introduce a universal 10 per cent tariff on all American imports. A recent Canadian Chamber of Commerce report suggested those tariffs would shrink the Canadian economy, resulting in around $30 billion per year in economic costs.

Ian Lee, associate professor at the Sprott School of Business at Carleton University, told CP24 this morning that his win will pose challenges to Canada, particularly when it comes to cross-border trade.

“I think the outcome is going to be overwhelmingly negative and I say that analytically and empirically. First off he has said he will put a 10 to 20 per cent tariff on goods from Canada to the United States. We export one third of our GDP, roughly $800 billion, and about 70 per cent of that goes to the U.S. So that would be catastrophic,” Lee said. “But it doesn’t stop there. He (Trump) has also said that he is going to reduce the corporate income tax rate from 21 per cent to 15 per cent. Our high-end combined federal and provincial corporate income tax rate is 38 per cent. He is talking about going to 15 per cent. All of these factors are going to pull investment capital from Canada into the U.S. which is going to drive down the Canadian dollar.”

NTV News will have local reaction this evening in NTV News First Edition and the NTV Evening Newshour.