The dust settles! The Republican Party retains the majority of seats in the House of Representatives in the United States, and will control both houses of Congress.

Local time on Wednesday, the Republican Party has won more than half of the seats in the U.S. House of Representatives, securing the majority position in the House. This means that the Republican Party will control both houses of Congress, which will be beneficial for the newly elected President Trump to implement his policy proposals. The Republican Party has won 218 out of the 435 seats in the House of Representatives, which is the number needed to maintain majority party status in the House. The Democratic Party has won 209 seats in the House. There are still 9 seats with results pending. Previously, the Republican Party took 4 seats from the Democratic Party in the Senate elections, increasing their seat count from 49 to 53, gaining the majority in the new Congress Senate. There are a total of 100 seats in the Senate, with one-third of them up for election in this cycle. It is expected that the Republican Party's significant victory will strengthen their efforts to impose tariffs, limit immigration, reduce business regulations, cut taxes, and reduce foreign military aid. Michael Strobaek, Global Chief Investment Officer and Head of Private Banking at Lombard Odier Bank, recently pointed out, "The second term of the Trump administration clearly calls for changes in U.S. economic policy, with deregulation, tax cuts, and tariffs being used as tools. Trump's policies are expected to boost U.S. economic growth and inflation, while maintaining the policy rates of the Federal Reserve." John Thune, the Senate Republican Whip from South Dakota, will succeed Mitch McConnell as the next Senate Republican leader. House Speaker Mike Johnson will continue to serve after receiving the Republican nomination and Trump's support.