Democrats’ takeover of Congress is expected to bring increased scrutiny to the mining sector, particularly companies that have benefited from Trump administration policies, government contracts or regulatory decisions. The shift in congressional control is also likely to intensify oversight of executive branch actions across a range of energy, trade and industrial policy issues.
“I think the metals and mining space is susceptible to some of the same kinds of thematic drivers of oversight and investigations as many other industries, and really the common nexus is proximity to Trump administration policies, administration objectives and government contracts,” Bracewell’s Tom Moyer told S&P Global.
Debates over presidential tariff authority are also expected to reemerge as Democrats assess legislative options for influencing trade policy.
“If you’re betting on long-term courage from Congress to take over control of trade policy, I don’t think that’s a strong fact,” Bracewell’s Josh Zive said. “Getting rid of the existing tariffs is going to be an uphill push.”
“If the Democratically-controlled Congress wants to examine tariff policy broadly through legislative means as a way to alleviate what they view as some of the issues on costs of goods, then certainly putting together legislative proposals that limit the ability of the president to make such 232 determinations, I think that’s certainly on the table,” Bracewell’s Joe Brazauskas said.