US Midterm Elections and the Rest of Us
Postscript by Waziri Adio US elections have had a global following for a while. But it is doubtful if any other American election, including presidential polls, has been more keenly
The US midterm elections of November 3rd, 2026, garnered global attention, particularly in the wake of President Donald Trump's return to the White House. The results were a resounding rebuke of Trump and his Republican Party, offering relief to global observers who anticipated a shift in America's global engagement. While it remains uncertain whether the shift will be positive, it is evident that American voters were displeased with Trump's economic policies.
The voters punished Trump for his failure to deliver affordable life for Americans, despite his campaign promises. The focus of the midterms was primarily on local issues, but Trump successfully linked global and local concerns, especially the impact of his actions on American consumers' pockets and dining tables. The midterms resulted in Democrats taking control of Congress in January, potentially prompting a shift in Trump's policies to address high prices and global tensions.
Key among these tensions was the US-Israeli war on Iran, which had caused a global energy crisis. The war kept oil and gas supplies constrained, creating an energy crisis that put the world at risk. Average petrol prices in the US increased from $2.91 per gallon to $4.40, while diesel prices rose from $3.72 per gallon to $6—increases of 51% and 61% within nine months.
The energy markets reacted positively to the election outcome, with the price of a barrel of Brent crude falling from $110.45 at the beginning of the week to $98.32 on Friday. It is expected that Trump will focus on ending the war with Iran, which could lead to further reductions in oil prices. The expected fall in oil prices would be beneficial not only for Americans but also for consumers and businesses worldwide.
In Nigeria, for instance, the prices of petrol and diesel rose by 40-90% within nine months, affecting transport, food, and energy costs for individuals and businesses. If crude prices fall back to $65-75 per barrel, petrol prices in Nigeria could drop below N1,000 per litre, providing significant relief to the country's economy.
In addition to ending the war with Iran, Trump may also scale back his indiscriminate imposition of tariffs on US imports. His tariff wars, driven by a mistaken belief that countries with trade surpluses cheat America, have imposed high costs on America and other countries. Some countries have had to impose retaliatory tariffs in response.
Although the impact of Trump's tariff policies may vary across different countries, ending the war with Iran is expected to have a more universal impact. The outcome of the US midterms should not be interpreted as a reprimand of America's interventions in other countries or a disapproval of Trump's treatment of American allies and international institutions. Instead, it reflects the electorate's primary focus on local issues on November 3rd.
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