Voters and some Republican lawmakers are growing weary of President Trump’s trade battles and the economic fallout from fighting in the Middle East. Trump’s escalating clashes with Canada and Iran are rattling national capitals, markets and board rooms, with some Republicans fearing these conflicts could worsen an affordability crisis and sink their hopes to maintain control of Congress. Despite pushback from within his party and voters, Trump appears to be staying the course on protectionist policies.

Trade experts warn that bans, unlike tariffs, initially lead to shortages, which could exacerbate inflationary pressures across supply chains for both the U.S. and Canada. Prime Minister Mark Carney of Canada acknowledged the trade war would come at a cost and said Canada is seeking to bolster ties with other trade partners, including strengthening energy exports to the European Union as relations with Washington hit a new low. Meanwhile, Brent crude surpassed $100 a barrel, trading at $100.86, as traders worried about intensifying Middle East conflict after the U.S. hit five Iranian oil tankers and Iran retaliated with missile strikes on Jordan and Navy destroyers.