InvestorQ : What does the Trump impeachment mean and how does it happen? Will it impact stock markets in India?
Rashi Mehra made post

What does the Trump impeachment mean and how does it happen? Will it impact stock markets in India?

sarah Leo answered.
3 years ago

The impeachment process is likely to start right away. In fact, the big push for the impeachment process came after the release of the White House phone transcript and a whistleblower complaint. This indicated clearly that Trump had pressured the new Ukrainian president to interfere in the 2020 election by investigating Democratic candidate and former Vice President Joe Biden. What was worse was that White House had tried to cover up the trail. The president seeking foreign help against an American national is an impeachable action. Not surprisingly, Nancy Pelosi the Democrat Speaker is leading the charge. Broadly, the impeachment will entail some important steps.

Firstly, the House Democrats will continue the investigation but the impeachment inquiry will now predominantly focus on the Ukraine affair. The next two weeks, as per Adam Schiff of the House Intelligence Committee, will include subpoenas and witness interviews taking place expeditiously. This will also include an interview with the whistleblower as well as other potential witnesses from the White House. This could also include an interview with Rudy Giuliani, Trump’s attorney. Based on all the evidence, the formal articles of impeachment will be written.

Secondly, once the articles of impeachment are ready there will be different levels of voting. The House Judiciary Committee will need to approve articles of impeachment before the full House takes a vote. Majority of the Democrats support the impeachment motion thought it is not necessary that they will vote to impeach Trump. Cross party voting could be the key in these cases. Thirdly, the Senate will take over. Impeachment is a quasi-legal process. The impeachment articles approved by the House are an indictment against Trump. Chief Justice John Roberts will preside over a televised trial in the Senate. Out of 100 members of the upper chamber 67 "guilty" votes will be required to impeach Trump. Even if the Senate finds him guilty, they need not impeach him. Even if the impeachment motion is accepted, the president may still continue. There are a lot more complications left

While the outcome is still uncertain, it is creating some problems for business. The China talks may get delayed even as global growth worries may continue. Weak demand will also mean weak oil prices. For India, there has been a lot of investment in Trump as the next president for 2020 and any such move may work against these interests.