Rep. Byron Donalds, R-Fla., told Newsmax on Tuesday that while rising energy and housing costs tied to tensions with Iran could pose challenges ahead of the midterm elections, he remains confident in President Donald Trump's foreign policy and economic agenda.
Donalds argued on "Ed Henry The Big Take" that Trump's record on global affairs should reassure voters despite short-term economic pressures.
"Donald Trump has been right on foreign policy more than any president in the last 30 years," he said. "That is a fact.
"Go check the tapes — [former President Bill] Clinton to [former President George W.] Bush to [former President Barack] Obama. Obviously, [former President] Joe Biden was an absolute disaster."
He acknowledged that oil prices have climbed as Iran threatens to close the Strait of Hormuz, a crucial global shipping route.
"Yes, oil prices are up because the Iranians have threatened closure of the Straits of Hormuz," Donalds said, adding that shipping companies are avoiding the strait because of security concerns.
He noted that oil is priced globally.
"People need to understand that oil is a global commodity. It's a spot price set every single day," he said.
"Because there are oil issues in other parts of the world, that's what is causing the price of a barrel to go up."
Donalds also criticized NATO allies for what he described as inaction.
"They have far more interest in making sure the Strait of Hormuz is open, but they won't lift a finger to do anything," he said.
On domestic economic concerns, including rising mortgage rates, Donalds said he has concerns but remains optimistic.
"I trust the president and his decisions on foreign policy," he said, adding he believes "this conflict will be coming to an end" and markets will "reset lower."
He added Republicans are working to address housing affordability by reducing construction costs, saying, "We're trying to do what we can to move the president's agenda on housing, to drive down the cost of building."
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