Historic House vote sees Trump impeached

02:46, 19 December 2019

Close to the third anniversary of his presidency, Donald Trump was impeached and now faces a trial in the Senate.

Donald Trump has become only the third president in history to be impeached by the House of Representatives. The Senate has to decide now whether he remains in office. House Speaker Nancy Pelosi said the Democrats had ‘no choice’ but to impeach President Trump, while he brushed off the impeachment, calling the Democrats’ efforts an assault on America in a Twitter post. 


What are the impeachment charges?

The House voted on two charges - that the president abused his power by withholding taxpayer money from Ukraine and getting the country to investigate his political rival Joe Biden, and that he had obstructed Congress for refusing to cooperate with the investigation. The charges passed by 230 to 197, with nearly all Democrats voting for and every Republican against.


How can Trump be removed from the Oval Office?

A two-thirds majority vote is required in the 100-member Senate to convict and remove a president from office. The Senate is made up of 53 Republicans, 45 Democrats and two independents. For Trump to be removed from office, at least 20 Republicans would be required to vote, alongside all Democrats and the independents.


Stocks closed yesterday little changed, with USA30 at 28278.50 (+0.1%), while gold ended the day at 1475.54 (+0.1%). EUR/USD dropped 0.3%, following the news, closing at 1.11146.


Stay tuned to Capex’s news section for more information and the latest updates!


Sources: marketwatch.com, bloomberg.com, cnbc.com

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