Senate Faces Crucial Vote Against Trump's Tariff Policies

The U.S. Senate prepares to vote on a resolution to block President Trump's tariffs, as the U.S. economy shrinks for the first time in three years. The resolution, led by Senator Ron Wyden and backed by Rand Paul, faces uncertainty amid Republican fears of retaliatory attacks from Trump.

The U.S. Senate prepared to cast a decisive vote on a crucial resolution aimed at halting President Donald Trump's contentious tariff measures. This move comes in the wake of a disconcerting report from the federal government, indicating a contraction in the nation's economy for the first time in three years.

The initiative, spearheaded by Democratic Senator Ron Wyden, was brought forward as a privileged resolution, necessitating a vote in the Republican-dominated chamber. The proposition seeks to terminate the national emergency declared by Trump, which justified the imposition of 10% global tariffs on U.S. trading partners, including China and the European Union.

With support from Republican Senator Rand Paul, a vocal critic of Trump's tariff agenda, the resolution's passage remains uncertain as Republicans weigh the political repercussions. Meanwhile, the economy's contraction signals growing concerns over escalating trade tensions and their impact on U.S. securities markets and the dollar.

(With inputs from agencies.)