Trump tries economic reset as Republicans fret over high gas prices

InternationalMust ReadTrump tries economic reset as Republicans fret over high gas pricesBy Reuters -Apr 16, 2026LAS VEGAS: U.S. President Donald Trump will look to brush off concerns about the economy and the sagging political prospects of his Republican Party during a campaign-style swing through the battleground ​states of Nevada and Arizona this week, as the war with Iran pushes gasoline prices higher. Trump is set to use a Thursday stop in Las Vegas to tout his tax and immigration bill ‌that includes campaign promises tailored to court hourly and hospitality workers. But spiking prices nationwide — from gas to groceries, housing to insurance — have shaken the U.S. economy and with it Trump’s clout to drive support to fellow conservatives in November’s midterm elections. Five Republican strategists told Reuters they fear the White House has lost control of the affordability debate, neutralizing the political tailwind from the tax bill and the resilient economy that has powered past much of Trump’s trade war and previous military interventions. “The cost of living is going to trump ​anything — no pun intended — over any small change in tax returns,” said David Damore, a political science professor at the University of Nevada, Las Vegas. Some of Trump’s political advisers have a rosier outlook, predicting the ​president will soon clinch a deal with Iran to reopen the vital Strait of Hormuz and that the corresponding economic anxiety will cool in the months before the ⁠midterms. White House spokesman Kush Desai said Trump has always been clear about the short-term economic impact of the Iran war and the tax benefits he helped deliver “reflect how the Administration hasn’t lost focus on delivering on our affordability ​agenda at home.” It could take weeks for global oil producers to restart production after hostilities cease around the waterway, however, and higher fuel prices mean sticky inflation on all manner of consumer goods and services. That presents pronounc...