Political structure · 04 Nov 2026 · AP / Reuters election results
Democrats win House and Senate; divided government confirmed
Democrats control both chambers while President Trump remains in office. Expect more investigations, policy noise and uneven implementation rather than a clean reset.
bothstrategicconf. 95%
1 · What happened — evidence
- ▸Both chambers called by major networks Nov 4
- ▸Committee chairs to change in January
- ▸Veto power retained by White House
2 · Why it matters to us
Resets the probability of every US policy assumption in our 2027 budget, especially tariffs, energy and permits.
Key question · Does senior management need to engage?
3 · Financial / operational impact
Widens 2027 US EBIT range to −€71m / +€42m vs plan.
Route to
CEOCFOCROExecutiveRisk & ComplianceSales & Markets
4 · Affected exposures
5 · Scenario effects
6 · Decisions & actions
Adopt 4-scenario US planning frame for 2027 budget
CFO · due 20 Nov 2026 · In review
Build scenario P&L model for US BU60%
Brief board audit & risk committee0%