US Democratic lawmakers vow to push for repeal of unreasonable tariff policies

Deep News16:20

Multiple Democratic members of Congress have said they will work to advance the repeal of the current unreasonable tariff policies, following strong voter reactions to the high cost of living and elevated inflation, as Democrats secured an overwhelming victory in the midterm elections.

Richard Neal, a Democratic federal representative from Massachusetts, said on the 6th that he is committed to reversing the Trump administration's unreasonable tariffs and behind-the-scenes trade agreements. Neal is expected to become chairman of the House Ways and Means Committee in the new Congress early next year. Speaking at a public event that day, he said the Trump administration deliberately created chaos and pursued unreasonable trade policies, driving up the cost of living and worsening income inequality in the United States.

Ron Wyden, a Democratic federal senator from Oregon, said that after becoming chairman of the Senate Finance Committee in January next year, he will push for legislation targeting the Trump administration's second-term tariffs. Hakeem Jeffries, a New York Democrat expected to become the next Speaker of the House early next year, said in an open letter on the 4th that "toxic" Republican policies such as tariffs and the Iran war have driven up the cost of living, and Democrats must do everything possible to bring living costs down.

Although these Democratic members of Congress have expressed their willingness to push for the repeal of unreasonable tariff measures, some analysts believe that while Democrats won control of both the Senate and the House in the midterm elections, US President Trump can exercise effective checks through vetoing congressional legislation and other means, and existing tariff measures may be difficult to see substantive easing in the short term.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment