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Home » Stocks surge after Trump’s tariff pivot: Live Update
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Stocks surge after Trump’s tariff pivot: Live Update

TrendytimesBy Trendytimes09/04/2025No Comments2 Mins Read
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A bipartisan Senate resolution will abolish Trump’s tariffs amid his global trade war: “Absolutely”

になったんです。 English: The first thing you can do is to find the best one to do.

A bipartisan group of senators has introduced a resolution to abolish President Donald Trump’s global tariffs after the administration ignites a trade war with countries around the world.

Rand Paulsens. RandPaul, and Ron Wyden, D-ore. led the resolution. This is Senate minority leaders Chuck Schumer, Dn.Y., and Sens. Tim Kaine, D-Va. , Jeanne Shaheen, Dn. H., Peter Welch, D-Vt. , also signed by Elizabeth Warren, D-Mass.

“Taxes are taxes, and tax powers belong to Congress, not the president,” Paul said in a statement. “Our founder was clear. Tax policy should not be left in one person’s hands. It abuses urgent authority to not only impose blanket tariffs, but also tramples on the Constitution.

Paul is a solid critic of tariffs during his tenure and has consistently opposed the use of emergency declarations to avoid Congress.

According to a press release, the measure will be treated as a privileged resolution that must be voted on the Senate floor. If approved, the resolution vacates the emergency that Trump declared in an executive order to impose a tariff of up to 49% on goods produced by other countries.

Following Trump’s announcement of tariffs, the market has been cratered, with manufacturers fired thousands of workers and foreign responding by imposing retaliatory tariffs on US farming and manufactured goods.

“Trump is leading our economy into a recession, killing jobs and wiping out the retirement fund for seniors as we speak,” Wyden said. “It’s enough. The president must have the power to tax everything Americans buy without being liable to Congress. Unless Republicans join Democrats and regain Congress’ power over trade policy, the damage can take years.”

This is an excerpt from an article by Landon Mion from Fox Business



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