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Trump Acknowledges Oil Prices Hurt Election Outcome, but Says He Would Make the Same Decision Again

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Summary

Trump acknowledged on November 4 that the Iran war had raised gasoline prices and hurt Republicans at the polls, but said he would make the same decision again. The new Congress takes office on January 3, 2027.

After Republicans lost control of both the U.S. House of Representatives and the Senate, Trump acknowledged that the Iran war had driven up gasoline prices and affected the election outcome. Asked whether it was worth it, however, he still said it was.

On November 4, U.S. local time, Vice President JD Vance posted on X, attributing the Republican election defeat to the Iran war.

Interviewed that day at the construction site of the White House ballroom, Trump said Vance’s explanation was “largely true.” He then said that, if he had to make the decision again, he would take the same action because Iran could not be allowed to possess nuclear weapons.

The election results will also change the governing environment for Trump’s next two years. Democratic leaders have announced plans to strengthen oversight and investigations. The new Congress will take office on January 3, 2027.

Trump said he was willing to communicate with Democrats, while emphasizing that he retained the presidential veto. How the two sides confront each other over government budgets, war policy and investigations will be a focus in the next phase.

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