Trump's Midterm Pitch Falters as Oil Tops $100 and Canada Tariffs Threaten Higher Costs
Updated
Updated · The New York Times · Sep 9
Trump's Midterm Pitch Falters as Oil Tops $100 and Canada Tariffs Threaten Higher Costs
3 articles · Updated · The New York Times · Sep 9
Summary
Oil rose above $100 a barrel for the first time since July, and U.S. gasoline averaged more than $4.22 a gallon on Wednesday as renewed fighting in Iran added to inflation risks.
Trump also pushed toward another escalation with Canada, including a bid this week to block some Canadian exports to the United States, threatening states and industries tied to cross-border trade.
Those twin shocks rattled financial markets and undercut Trump's argument ahead of the 2026 midterms that he can improve household finances after years of high inflation.
Some Republicans have already begun distancing themselves from the White House as the economy shifts from a political strength to a liability that could endanger the party's House and Senate majorities in November.