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AXIOS (Courtenay Brown) - Iran conflict could worsen America's affordability crisis

The Iran conflict abroad threatens the affordability crisis at home, as an oil price spike ripples through to pump prices Americans see every day. Why it matters: This has become one defining tension of President Trump's second term — foreign policies that could undercut core domestic promises to lower prices for American consumers, just months ahead of midterm elections. - That tension has been on display with global trade: Trump imposed steep import taxes aimed at leveling the trade playing field, but the result has been higher goods prices for consumer staples. The big picture: Gas prices have been a deflationary tailwind for Trump. Prices are down more than 7% in January compared to the same period a year ago, putting downward…

The Iran conflict abroad threatens the affordability crisis at home, as an oil price spike ripples through to pump prices Americans see every day. Why it matters: This has become one defining tension of President Trump's second term — foreign policies that could undercut core domestic promises to lower prices for American consumers, just months ahead of midterm elections. - That tension has been on display with global trade: Trump imposed steep import taxes aimed at leveling the trade playing field, but the result has been higher goods prices for consumer staples. The big picture: Gas prices have been a deflationary tailwind for Trump. Prices are down more than 7% in January compared to the same period a year ago, putting downward…Open