{"id":654716,"date":"2024-11-06T00:00:00","date_gmt":"2024-11-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/donald-trump-has-been-elected-president-once-more\/"},"modified":"2024-11-06T00:00:00","modified_gmt":"2024-11-06T00:00:00","slug":"donald-trump-has-been-elected-president-once-more","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/donald-trump-has-been-elected-president-once-more\/","title":{"rendered":"Donald Trump has been elected president once more"},"content":{"rendered":"

Good afternoon, all, and happy almost-weekend. <\/strong>The only issue on everyone\u2019s minds and tongues both locally and internationally is Donald Trump\u2019s victory in the US elections.<\/p>\n

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THE BIG STORY TODAY<\/p>\n

And with that, we\u2019re back on the MAGA train. <\/strong>Donald Trump has been elected<\/a>to his second nonconsecutive term<\/a> at the White House in a political comeback that has seen the former president sweep nearly all key swing states and secure the popular vote. Trump has already claimed victory early Wednesday, saying in a speech<\/a> that through the election results \u201cAmerica has given us an unprecedented and powerful mandate.\u201d Democratic candidate Kamala Harris has yet to concede, with her campaign canceling her previously scheduled engagements this morning.<\/p>\n

President Abdel Fattah El Sisi is among the <\/strong>world leaders<\/a><\/strong> that have already <\/strong>congratulated <\/strong>Trump on his victory,<\/strong> saying in an X post<\/a> that Egypt wishes him \u201call the success in achieving the interests of the American people,\u201d and affirming that \u201cwe look forward to working together to establish peace, maintain regional stability, and strengthen the strategic partnership\u201d between the two countries.<\/p>\n

Trump\u2019s political comeback shocked those on the left and right:<\/strong> Despite repeated assertions in the days leading up to election day that the race was too close to call, Trump\u2019s win was sweeping. Some right-wing pundits were ready to call the election by 10:30pm on the US\u2019 east coast, with Fox News host Bret Baier declaring Trump<\/a> \u201cprobably the biggest political phoenix from the ashes that we have ever seen in the history of politics.\u201d<\/p>\n

The Democrats also <\/strong>lost their majority in the Senate<\/a><\/strong>,<\/strong> with Republicans flipping three seats<\/a> in West Virginia, Ohio, and Montana<\/a> to gain the majority. The race for the House of Representatives remains too close to call, but it\u2019s a strong possibility that Republicans could control both chambers of Congress and the presidency in the coming few years \u2014 giving them nearly untrammeled ability to push through the party\u2019s preferred legislation and Trump\u2019s favored Cabinet appointments, many of whom are likely to dismantle or radically reshape key parts of the US administrative state.<\/p>\n

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KEY TALKING POINTS<\/p>\n

Swing states swung decisively toward Trump: <\/strong>The Donald appears to have secured victories in all seven swing states that had been widely expected to decide the election, with Trump flipping Pennsylvania, Wisconsin, and Georgia \u2014 all of which voted for Joe Biden in 2020. North Carolina stayed within Republican hands, as it did in 2020, while the electoral votes of the remaining key swing states of Michigan, Arizona, and Nevada also appear to be headed to Trump once the vote-count is complete.<\/p>\n

Inflation was on the ballot: <\/strong>Polls conducted by Reuters\/Ipsos<\/a> saw voters identify the economy as the biggest problem facing the country, with voters citing high prices as among their key concerns. Among those who identified the economy as the biggest single issue in the election, 79% voted for Trump<\/a> \u2014 signaling little faith in the incumbent Democrats\u2019 ability to steward the US economy.<\/p>\n

Harris\u2019 considerable losses in key battlegrounds, <\/strong>alongside sharp downticks in Democrats\u2019 vote share in their traditional strongholds and constituencies \u2014 including among women and voters of color \u2014 reflected the Democratic candidate\u2019s weak appeal to on-the-fence voters and the party\u2019s traditional base alike. Another indication of this was the relative success of progressive state ballot measures, which performed much better than Harris in many parts of the country \u2014 with abortion rights ballot measures<\/a> seeing particular success even in states that voted solidly for Trump.<\/p>\n

Identity politics was \u2014 as always \u2014 a key point of discussion,<\/strong> with many pundits noting Trump\u2019s improved numbers among voters of color, particularly men. Exit polls<\/a> noted a strong rightward shift among Latino voters, with Trump\u2019s 45% share a full 13 percentage points above his showing in 2020\u2019s exit polls. Trump boosted his numbers<\/a> among some black voters, with North Carolina exit polls showing Trump garnering 12% of the black vote, up from 5% in 2020. The president-elect also won over suburban white women voters 51% to Harris\u2019 47%, with polls showing Harris receiving less support from women nationally than Biden received in 2020. Younger voters also voted for the Democratic candidate in smaller numbers, with Harris winning voters between the ages of 18 and 29 by a 10-point margin<\/a>, down from Biden\u2019s 24 points.<\/p>\n

Meanwhile, Arab American voters in Michigan <\/strong>deserted the Democratic Party en masse<\/a><\/strong>,<\/strong> with the plurality of votes cast in the largest majority-Arab American city of Dearborn, which Joe Biden won decisively in 2020, going to Trump. The showing was a sharp rebuke to the Biden administration\u2019s blank check for genocide in Gaza and following what had been described in recent days as racist and tone-deaf campaigning by the Harris camp in Michigan.<\/p>\n

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WHAT CAN WE EXPECT FROM A SECOND TRUMP PRESIDENCY?<\/p>\n

Trade protectionism is a key campaign promise: <\/strong>Going by Trump\u2019s campaign promises, the president-elect is likely to significantly boost trade barriers<\/a>. Trump has previously said that he might impose a 200% tariff on some imported cars \u2014 particularly those from Mexico \u2014 and has floated the idea of a 10% tariff on all goods imported into the US. His running mate JD Vance has also proposed a 10% tax on remittances to Latin America \u2014 the most recent of the pair\u2019s xenophobic policy prescriptions aimed at immigrants. China also remains in the president-elect\u2019s crosshairs, with Trump proposing phasing out Chinese imports of pharma products, electronics, and steel in the next four years and banning Chinese firms from owning US real estate or tech and energy infrastructure. <\/p>\n

All of this spells a stronger USD: <\/strong>Tariff barriers and lower expected contributions to multilateral institutions are likely to depress growth<\/a> in other parts of the world, strengthening the greenback. More oil production, lower corporate taxes, and a tough immigration policy are all likely to lead to domestic inflation \u2014 good for equities, but not so good for the disgruntled US voters sick of high prices that just voted Trump into office.<\/p>\n

In our neck of the woods: <\/strong>Trump has expressed his support<\/a> for Israel\u2019s ongoing war in Gaza, but has publicly stated that Israel\u2019s assault is taking too long. He is widely expected to continue sending arms to Israel, and is likely to give Israel more latitude to engage in hostilities with Iran. Trump\u2019s previous administration saw the president-elect push for normalization between a number of Arab countries and Israel and instate travel restrictions on people traveling to the US from a number of Muslim-majority countries, dubbed the \u201cMuslim ban.\u201d At the same time, Trump enjoys much stronger working relationships with some regional leaders than the Biden administration \u2014 making it difficult to gauge how his policies might shift when back in the seat of power.<\/p>\n

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