On Thursday, the Senate approved a resolution to block the national emergency measure that allowed President Trump to enact sweeping global tariffs in a 51-47 vote, with four Republicans siding with Democrats.
Claim 30% Off TipRanks
Trade QQQ with leverageHowever, the resolution will likely be symbolic, as the Republican-controlled House and the White House would almost certainly move to overturn the measure.
Lawmakers Push Back Against Trump’s Tariffs
Earlier this week, the Senate approved resolutions to block Trump’s tariffs on Brazil and Canada, with some Republicans siding with Democrats on both votes.
“When it comes to international trade, and tariffs in particular, the United States Congress has clear authority,” said Oregon Senator Ron Wyden.
The votes mark a rare show of bipartisan resistance to Trump’s trade agenda, which has faced growing criticism from both parties for its economic effects.
Stay ahead of macro events with our up-to-the-minute Economic Calendar — filter by impact, country, and more.