The US midterm elections are usually seen as a domestic political contest. This time, their consequences could travel far beyond Washington. The results will influence everything from global trade and investment to currency markets, energy prices and technology supply chains.

The November 2026 elections will determine whether President Donald Trump retains congressional support or faces a legislature increasingly willing to challenge his economic agenda. For the rest of the world, the outcome could shape the cost of doing business with America and the stability of the global economic environment.

Sohom Banerjee,…