A Democratic Congress could curb the Iran war but not Trump's tariffs, former ambassador says | Fortune

Former U.S. ambassador to Vietnam Ted Osius told the Fortune Southeast Asia 500 Summit on November 3, 2026, that a Democratic-controlled Congress could constrain military action against Iran but would be unable to roll back President Trump's tariffs. Osius, speaking at the event, drew a distinction between war powers subject to congressional check and trade measures he suggested would persist regardless of legislative control. The remarks matter for markets because they signal tariff policy continuity—and thus no near-term relief for exporters and importers—even under a shift in congressional power. Investors should watch for any legislative attempts to limit executive trade authority and for how Southeast Asian supply chains adjust to a prolonged tariff regime.