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US voters are angry. But on tariffs and war, the midterms won’t bring quick change

Chatham House | 2026-10-22 | economy

Topics: Climate, Europe, Middle East, Nuclear, Trade, United States

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English Summary

Although American voters are highly agitated over inflation and the cost of living, the Chatham House analysis finds that the upcoming midterms will not result in quick policy changes regarding tariffs or the conflict with Iran. While voters directly link tariffs and the war to high prices, legislative efforts to repeal tariffs or curb military spending face significant institutional hurdles and partisan gridlock. The administration is actively doubling down on protectionist measures (e.g., Section 301 investigations), and Congress's power of the purse, while a tool, is unlikely to deliver rapid, decisive cost reductions for consumers. Ultimately, voters' anger is likely to increase frustration rather than leading to immediate economic relief, potentially setting the stage for volatile political outcomes in 2028.

中文摘要

儘管美國選民對通貨膨脹和生活成本極度焦慮,但查塔姆館(Chatham House)的分析指出,即將到來的中期選舉不會導致關稅或伊朗衝突方面出現快速的政策轉變。雖然選民直接將關稅和戰爭與高物價掛鉤,但立法機構在廢除關稅或削減軍事開支方面,仍面臨重大的制度障礙和黨派僵局。現任政府正積極加倍推動保護主義措施(例如《301條款》調查),而國會的預算權雖然是一種工具,但不太可能為消費者帶來快速、決定性的成本削減。從長遠來看,選民的憤怒更有可能加劇挫敗感,而非帶來即時的經濟緩解,這可能會為2028年帶來不穩定的政治結果。

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