Trump is going to get 'trounced' in the midterms — and knows it, Anthony Scaramucci tells CNBC
The former White House communications director also said the Republican party was facing a "civil war" after the result.
The comments from Anthony Scaramucci, a former White House communications director, have sparked interest in the potential implications of the midterm elections on the US economy and trade policies. If the Republicans do indeed suffer significant losses, it could lead to a shift in the balance of power in Congress, potentially hindering President Trump's agenda, including his trade priorities.
A divided Republican party, as Scaramucci suggested, could lead to increased infighting and decreased ability to pass legislation, including trade agreements. This could have significant implications for the ongoing trade tensions, particularly with China, and the implementation of the United States-Mexico-Canada Agreement (USMCA). The uncertainty surrounding the midterm elections and their aftermath may lead to increased market volatility, particularly in the trade-sensitive sectors.
As the midterm elections approach, traders and investors will be closely watching the polls and the potential implications for US trade policy. A Democratic-controlled House or Senate could lead to increased scrutiny of the Trump administration's trade policies, potentially leading to a more nuanced approach to trade negotiations. The key to watch will be how the election results impact the Republican party's ability to pass trade legislation and how the Democrats, if they gain power, choose to prioritize trade issues.
Originally reported by cnbc.com. Trade-News adds analysis for finance & markets readers.