Eshe Nelson reported from London and Brussels, and River Akira Davis from Tokyo. For governments around the globe, the prospect of a prolonged war in the Middle East is raising the risk of fiscal strain on already stretched public budgets.

President Trump speaks Wednesday at the World Economic Forum, where he discussed trade policy and more. Valeriano Di Domenico/Avalon/ZUMA Press President Trump hit on a range of economic issues during his address to the World Economic Forum on Wednesday in Davos, Switzerland.