On Thursday, October 30, the US Senate approved the repeal of the global tariffs imposed by President Donald Trump, which generated $88 billion in tax revenue between April and August.

The vote to reject Trump’s tariff policy was 51 in favor and 47 against, “with the support of Republican senators Rand Paul, Mitch McConnell, Susan Collins, and Lisa Murkowski.”

This Senate resolution follows two previous ones to eliminate tariffs on products from Canada and Brazil, respectively. According to Republican Senator McConnell, “the tariffs make it more expensive to both build and buy goods in the United States.”

However, it appears these measures against Trump’s tariffs are destined to be a symbolic act, “since they now go to the House of Representatives, where they have very little chance of passing given the Republican majority in the chamber.”

M.Pino

Source: bancaynegocios

(Reference image source: MIKE STOLL on Unsplash)

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