US Senate Blocks Trump’s Canada Tariffs in Bipartisan Vote
The US Senate has voted 50-46 to block President Trump’s Canada tariffs on exports. Four Republicans—Mitch McConnell, Susan Collins, Lisa Murkowski, and Rand Paul—joined Democrats, marking the second bipartisan rebuke of Trump tariffs in two days after opposing duties on Brazil. A final vote on broader global tariffs is set for Thursday.
The decision followed an Ontario ad quoting Ronald Reagan against protectionism, which prompted Trump to pause Canada trade talks and threaten a further 10% rise atop the existing 35% duty. Although symbolic until the House votes—postponed until March—the resolution signals rising bipartisan resistance to Trump tariffs.
Traders should watch this trade dispute. Fluctuations in steel, aluminum, and energy sectors tied to Canada could ripple across commodities and risk sentiment. While direct effects on cryptocurrency trading are limited, heightened market volatility may influence short-term crypto positions.
Neutral
The Senate’s decision to block Trump tariffs on Canadian exports is unlikely to have a direct price effect on cryptocurrencies. The dispute centers on steel, aluminum, and energy sectors, with broader market volatility a more relevant driver. In the short term, crypto markets may experience modest fluctuations as risk sentiment shifts, but the long-term outlook for digital assets remains unaffected by these tariffs. Overall, the news is neutral for cryptocurrency trading.