For Americans hoping the blue wave of Democrats taking Congress will help bring down high consumer prices, they will be disappointed.

American voters – and the wider world – should brace for more of the same Trump administration policies for the next two years, although with greater Congressional scrutiny and economic control over budget decisions.

Despite Democrats winning a sweeping majority in the House and the Senate, granting them the power to pass laws, President Donald Trump still has veto power to block this process. This veto can only be overruled by a two-thirds majority of Congress, which the Democrats don’t have without Republican support.

The Democrats’ significant midterm wins reflect broad concerns over the Trump administration’s handling of domestic and international issues, namely cost of living, health care, artificial intelligence and the Middle East war. At the centre of a number of these issues is trade.

Tariffs have made inflation pain worse

Globally, households are feeling the pain of higher prices. In the US, Trump’s tariffs – which are taxes on imports – are a big part of that story.

Trump has opted for a trade strategy focused on unilateral actions, distancing the US from the rules-based system underpinning global trade that has prevailed since the end of the second world war.

Using executive orders and a Republican majority in Congress, Trump has implemented an unprecedented tariff strategy, largely unimpeded.

The intent was to promote America’s interests and........

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