๐ฅ The trade war is escalating: The House of Representatives against Trump's tariffs
๐บ๐ธ The U.S. House of Representatives voted to repeal Donald Trump's tariffs against Canada.
โค 219 โ in favor, 211 โ against
โค 6 Republicans joined the Democrats
โค Trump has already warned: those who supported the decision may "suffer in the elections"
This concerns serious measures:
โช a base tariff of 35% on most Canadian goods
โช 50% duties on steel and aluminum
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๐ What's next?
Now the resolution will be considered by the Senate.
But even if approved, Donald Trump will almost certainly exercise his veto power.
Earlier, the Senate had already opposed the tariffs โ tension within the political system is increasing.
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๐ Why is this important for the markets?
Trade wars = increased uncertainty.
Any escalation of tariffs affects:
โช inflation expectations
โช commodity markets
โช stock indices
โช and, of course, risk assets, including crypto
Geopolitics is once again becoming a factor of volatility.
We are watching the voting in the Senate โ the decision could affect not only trade but also the overall market dynamics.
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