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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“I am outraged that the International Maritime Organization is voting in London this week to pass a global Carbon Tax. The United States will NOT stand for this Global Green New Scam Tax on Shipping, and will not adhere to it in any way, shape, or form. We will not tolerate increased prices on American Consumers OR, the creation of a Green New Scam Bureaucracy to spend YOUR money on their Green dreams. Stand with the United States, and vote NO in London tomorrow!”
How Will Trump’s Statement Affect the Stock Market?
This latest post has the potential to affect the stock market. That’s because Donald Trump’s statement against the proposed global Carbon Tax by the International Maritime Organization could lead to increased volatility in the stock market. The Industrial Select Sector SPDR Fund and Energy Select Sector SPDR Fund may experience fluctuations due to potential regulatory changes impacting industrial and energy sectors. Additionally, the iShares MSCI United Kingdom ETF might be affected by uncertainties surrounding the UK’s role in the decision-making process and its potential economic implications.
Here are some of the stocks that might be affected:
Industrial Select Sector SPDR Fund ((XLI)),
Energy Select Sector SPDR Fund ((XLE)),
iShares MSCI United Kingdom ETF ((EWU)).