TL;DR

A few Republicans briefly challenged Trump’s disastrous trade war, offering a glimmer of hope before inevitable economic pain.

Story

Trump’s trade war, a disaster waiting to happen. A handful of Republicans temporarily halted his metal tariffs, but the damage is already done. Businesses? Screwed. Consumers? Paying more. This ‘win’ is like putting a band-aid on a broken leg.

Here’s the gist: Trump slapped tariffs on Canadian steel and aluminum, claiming national security. What a joke. Prices soared, businesses struggled, and allies were alienated. The Senate voted to block the tariffs, with a few Republicans joining the Democrats. But the House is unlikely to follow, and Trump can veto anything they pass.

This is a classic bait-and-switch. Trump pretends to be tough on trade, but his policies are just a recipe for recession. The markets will tank, jobs will be lost, and taxpayers will be left holding the bag. Like 2008, or Enron, the warning signs are there, but nobody wants to see them.

‣ Tariff: A tax on imported goods. Designed to “protect” domestic industries, but often harms consumers and triggers trade wars. ‣ Veto: Presidential power to reject a bill passed by Congress. ‣ Trade War: A tit-for-tat exchange of tariffs and other trade barriers between countries. Usually ends badly for everyone involved.

Advice

Don’t trust politicians who promise easy solutions to complex problems. Tariffs rarely work and often backfire.

Source

https://www.reddit.com/r/investing/comments/1jq4hf3/us_senate_passed_bill_by_slim_margin_in_a_5148/