Oil Prices Rise in Global Markets on Fears of Middle East Supply Disruptions
Darwin, October 21: Oil prices rose in global markets on Wednesday as traders grew concerned about potential disruptions to oil supplies in the Middle East,…
Darwin, 01 November — The U.S. Senate has passed a resolution aimed at overturning former President Donald Trump’s global tariff policy, which was enacted under a declared “national emergency.”
The resolution, formally known as S.J. Res. 88, passed by a narrow 51–47 vote on Thursday local time. The measure seeks to terminate the “national emergency” that Trump had used as the legal basis for imposing broad global tariffs.
Alongside Democrats, four Republican senators — Rand Paul, Lisa Murkowski, Susan Collins, and Mitch McConnell — also voted in favor of the resolution. The same group had supported two earlier measures rejecting Trump’s tariffs on Canada and Brazil last week.
Political analysts say the vote reflects growing unease and division within the Republican Party over Trump’s trade policies.
However, despite passing in the Senate, the resolution is expected to face strong resistance in the Republican-controlled House of Representatives. House leaders have already indicated that they will block any attempt to repeal Trump’s tariff measures.
On April 2, President Trump announced increased export tariffs on more than a hundred countries, describing the move as “a step toward America’s economic independence.” From the outset, the decision faced sharp opposition from Democratic leaders and business groups, who warned it could harm global trade and U.S. competitiveness.