Trump Reportedly Unsure Whether Impact of Economic Policies Will be Felt in Time for Midterms

US President Donald Trump makes a statement to reporters as he heads into the White House after landing on the South Lawn in Marine One in Washington, DC, USA, 13 December 2025. EPA/Samuel Corum / POOL
US President Donald Trump makes a statement to reporters as he heads into the White House after landing on the South Lawn in Marine One in Washington, DC, USA, 13 December 2025. EPA/Samuel Corum / POOL
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Trump Reportedly Unsure Whether Impact of Economic Policies Will be Felt in Time for Midterms

US President Donald Trump makes a statement to reporters as he heads into the White House after landing on the South Lawn in Marine One in Washington, DC, USA, 13 December 2025. EPA/Samuel Corum / POOL
US President Donald Trump makes a statement to reporters as he heads into the White House after landing on the South Lawn in Marine One in Washington, DC, USA, 13 December 2025. EPA/Samuel Corum / POOL

US Donald President Trump expressed uncertainty about whether Republicans would keep control of the House of Representatives in next year's midterm elections because some of his economic policies have yet to take full effect, the Wall Street Journal reported on Saturday.

Trump, in an interview conducted on Friday, told the Journal, "I can’t tell you. I don’t know when all of this money is going to kick in," when asked about the whether Republicans would lose the House in November.

The White House did not immediately respond to Reuters' request for comment.

The president has argued that his economic policies, including his imposition of widespread tariffs on imports, are creating jobs, boosting the stock market and attracting increased investment into the United States.

After campaigning last year on promises to tame inflation, Trump has in recent weeks alternated between dismissing affordability problems as a hoax, blaming President Joe Biden for them, and promising his economic policies will benefit Americans next year.

"I think by the time we have to talk about the election, which is in another few months, I think our prices are in good shape," Trump said in the interview.

Last month the president rolled back tariffs on more than 200 food products in the face of growing angst among American consumers about the high cost of groceries.

The president did not say whether he would lower tariffs on additional goods, the Journal reported.

Trump's overall approval rating edged up to 41% in a new Reuters/Ipsos poll but the approval rating on his performance on the cost of living was just 31%.

Democrats have won a string of victories in state and local elections in Virginia, New Jersey and New York City, where growing voter concerns about affordability, including high food prices, were a key topic.

Officials have said Trump will hit the road in the new year to campaign for Republican candidates and emphasize his economic policy successes. Trump has said his tax cuts and tariffs on foreign goods will put more money in the pockets of American families.



G7 Energy Ministers Confirm Readiness to Release Oil Stockpiles

Out of service signs are pictured on unleaded petrol and diesel fuel pumps at a petrol service station in Cambridge, eastern England on March 09, 2026. (Photo by Paul ELLIS / AFP)
Out of service signs are pictured on unleaded petrol and diesel fuel pumps at a petrol service station in Cambridge, eastern England on March 09, 2026. (Photo by Paul ELLIS / AFP)
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G7 Energy Ministers Confirm Readiness to Release Oil Stockpiles

Out of service signs are pictured on unleaded petrol and diesel fuel pumps at a petrol service station in Cambridge, eastern England on March 09, 2026. (Photo by Paul ELLIS / AFP)
Out of service signs are pictured on unleaded petrol and diesel fuel pumps at a petrol service station in Cambridge, eastern England on March 09, 2026. (Photo by Paul ELLIS / AFP)

Energy ministers from the Group of Seven nations confirmed readiness to ⁠take necessary steps to support ⁠global energy supplies, ⁠including possible joint release of strategic oil stockpiles, Japan's Industry Minister Ryosei Akazawa told a ⁠briefing on ⁠Tuesday.

The International Energy Agency (IEA) hosted a meeting of G7 energy ministers at its headquarters in Paris, chaired by Minister Roland Lescure of France, which holds the G7 presidency.

At the virtual meeting, the agency provided an update on its view of the situation in global oil and gas markets, which have been significantly affected by the conflict in the Middle East.

Lescure said the group is prepared to release emergency stockpiles if required.

“We are ready to take the necessary measures, including drawing on strategic reserves to stabilize the market,” Lescure said.

“We are not there yet,” he told reporters in Brussels, after hosting a meeting of G7 finance ministers.

“We are monitoring the markets, the impact on the macroeconomy but also on our citizens,” he said, adding that coordination among major economies remains central to the response.

“Everyone is willing to take measures to stabilize the market, including the US,” Lescure said.

“We have asked the IEA to elaborate scenarios for a potential oil stock release, we need to be ready to act at any moment,” he added.

For its part, the agency said in a statement, “We discussed all the available options, including making IEA emergency oil stocks available to the market. IEA Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, with a further 600 million barrels of industry stocks held under government obligation.”

European governments are on edge about the prospect of a repeat of the energy crisis they faced in 2022 after Russia ⁠invaded Ukraine, when prices surged to record peaks, forcing some industries to shut down operations.

The EU imports more than 90% of its oil and around 80% of its gas, making European countries highly ⁠exposed to fluctuations in global oil and gas prices.

European Commission chief Ursula von der Leyen is due to propose measures to tackle the politically sensitive issue at an EU summit next week.

Being “completely dependent on expensive and volatile imports” of fossil fuels puts Europe at a disadvantage to other regions, von der Leyen said in a speech.

“Developments in the Middle East remind us once again of the risks of relying still too much on fossil fuels,” von der Leyen said, adding that reducing Europe's nuclear energy sector was a “strategic mistake.”

On Tuesday, the EU called on member states to help consumers and businesses by lowering taxes on energy where possible, as war in the Middle East saw oil and gas prices surge.

“If you are at all able to lower taxes on energy, especially on electricity, there is a huge potential” to reduce consumer bills, EU's energy chief Dan Jorgensen said at Parliament in Strasbourg on Tuesday.

Jorgensen said cutting taxes could help ease the financial burden on households as rising energy costs continue to affect consumers across the union.

According to the European Commission Joint Research Center, around 48 million people in Europe, roughly one in ten, cannot afford to heat their homes adequately.


CEO: Exxon Evacuated Non-essential Middle East Staff

An Exxon gas station sign in Dallas, Friday, March 6, 2026. (AP Photo/Tony Gutierrez)
An Exxon gas station sign in Dallas, Friday, March 6, 2026. (AP Photo/Tony Gutierrez)
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CEO: Exxon Evacuated Non-essential Middle East Staff

An Exxon gas station sign in Dallas, Friday, March 6, 2026. (AP Photo/Tony Gutierrez)
An Exxon gas station sign in Dallas, Friday, March 6, 2026. (AP Photo/Tony Gutierrez)

Exxon Mobil has evacuated non-essential employees from its operations in the Middle East, CEO Darren Woods said in an interview on Tuesday, as the US-Israel war on Iran continues.

Some operations have been scaled back to manage oil inventory levels as traffic through the Strait of Hormuz has been challenged, he said. ⁠Exxon is a ⁠minority partner in oil and gas projects in the UAE, Qatar and Saudi Arabia.

"Our first and highest priority is making sure our people remain safe, and we evacuated folks who weren't critical or essential to the operations that we were providing support for," Reuters quoted Woods as saying.

Traffic ⁠through the Strait of Hormuz, an important waterway between Iran and Oman that sees one-fifth of the world's oil supply pass through it, has effectively halted after Iran threatened to attack tankers that attempt to pass.

US President Donald Trump on Monday threatened to escalate the war with Iran if it blocked oil shipments from the Middle East, even as he predicted a quick end to the conflict.

With exports strained, oil producers have ⁠cut output ⁠at some oilfields as storage capacity runs out.

"The ability to manage ... inventory becomes very challenged, and many of the operations are pulling back simply to manage inventory levels as the logistics in the supply chain and the flow through the Strait get worked (through) with time," Woods said.

About 20% of Exxon's oil and gas production is in the Middle East, according to analysts from Jefferies. Nearly 60% of the US oil major's liquefied natural gas business is concentrated in the region, according to TD Cowen.


EU Opposes Removing Oil Sanctions on Russia to Cool Energy Prices

Pumpjacks operated by Aera Energy work the wells at the Midway-Sunset field near Taft in Kern County, California, on March 8, 2026. (Photo by Frederic J. BROWN / AFP)
Pumpjacks operated by Aera Energy work the wells at the Midway-Sunset field near Taft in Kern County, California, on March 8, 2026. (Photo by Frederic J. BROWN / AFP)
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EU Opposes Removing Oil Sanctions on Russia to Cool Energy Prices

Pumpjacks operated by Aera Energy work the wells at the Midway-Sunset field near Taft in Kern County, California, on March 8, 2026. (Photo by Frederic J. BROWN / AFP)
Pumpjacks operated by Aera Energy work the wells at the Midway-Sunset field near Taft in Kern County, California, on March 8, 2026. (Photo by Frederic J. BROWN / AFP)

EU economy chief Valdis Dombrovskis said Tuesday the European Union did not support removing sanctions on Russian oil despite soaring energy prices, AFP reported.

"We must continue to exert maximum pressure on Russia," he said when asked about US President Donald Trump's announcement he will waive some sanctions on oil, warning easing restrictions would "reinforce Russia's capacity to wage war, undermining Ukraine".