US President Donald Trump used his Republican midterm convention speech in Dallas to defend his economic policies, address rising oil prices and intensify his criticism of Iran. Speaking on September 9, Trump argued that previous administrations contributed to the affordability crisis while promising that his policies would eventually bring household and energy costs lower.
Trump Dallas Speech Targets Affordability Crisis
Trump blamed previous US administrations for what he described as trillions of dollars in wasteful spending and costly green energy policies. He argued that those decisions had contributed to higher living expenses for American families.
During the Dallas convention, Trump said his administration was bringing prices down and claimed that food and other everyday costs were falling. His remarks placed affordability at the center of his midterm message as Republicans prepare for the November 2026 congressional elections.
Oil Prices Rise as Iran Conflict Intensifies
Trump also addressed energy prices as crude oil moved above $100 a barrel amid escalating tensions in the Middle East. He predicted that oil prices would eventually decline if the United States prevailed in the conflict with Iran.
Energy markets have faced growing uncertainty as military activity threatens oil facilities and major shipping routes across the Gulf. The Strait of Hormuz remains particularly important because a significant share of global oil shipments passes through the narrow waterway.
Trump Renews Criticism of Iran and JCPOA Deal
Trump again criticized the Joint Comprehensive Plan of Action, the 2015 nuclear agreement negotiated during former President Barack Obama's administration. Trump withdrew the United States from the JCPOA during his first term and has repeatedly argued that the agreement failed to prevent Iran from developing a nuclear weapons capability.
During his Dallas speech, Trump defended US military strikes on Iranian nuclear facilities and claimed that Iran had been close to obtaining nuclear weapons. Those comments reflected the administration's broader justification for its military campaign, although assessments about Iran's exact nuclear timeline have differed among officials and experts.
Iran War Emerges as Midterm Election Issue
Trump also described Iran as a major security threat in the Middle East and repeated his proposal to rename the Strait of Hormuz the “Trump Strait.” His comments combined foreign policy messaging with a broader effort to portray his administration as tougher on Iran than previous governments.
The Iran conflict could become an important issue during the 2026 midterm campaign, particularly if high oil prices affect gasoline costs and inflation. Trump's Dallas address showed that the White House intends to connect national security, energy prices and household affordability as Republicans seek to retain control of Congress.
