Donald Trump Winning US Presidential 2024 Election Triggers Transition Expectations
Updated: Nov 13
Dynamics of the US Presidential 2024 elections have hailed proposals of Donald Trump by handing him 312 electoral votes. That is beyond the 270 mark with Kamala Harris trailing at 226 votes. Republicans have claimed victory in the US Senate and may soon attain a majority in the US House of Representatives. What has brought Donald back to power after a gap of 4 years is what the world is now looking forward to.
Clinching this historic US election has triggered expectations worldwide that it may soon come across. Vivek Ramaswamy appeared for an interview with Fox News, stating that they were back with a new Republican Party and a new country.
Here’s an attempt to understand some core transitions that everyone expects to happen after the 45th US President dethroned Joe Biden to become the 47th President of the US.
Tariff Policies Proposed by Donald Trump
A tariff is essentially what a Government charges from other countries for imports and/or exports. It forms a crucial part of its revenue which then supports operations of the nation. Donald Trump proposed increasing tariffs for countries that are charging higher prices from the US. It could range anywhere between 10% to 60%. Trump’s intention is to level international trade plus boost local manufacturing.
A rough expectation is that it would wage a trade war in addition to causing inflation in America. The Federal Reserve might be careful in slashing lending rates. It last cut rates by 25 bps after a 50 bps cut in September this year.
Illegal Migrants
One issue that Elon Musk and Donald Trump share excessively in common is a stand against illegal migration. The US President-elect emphasized a lot on executing mass deportation right from the first day of assuming the Presidential office. It is little known how many people would be affected if it happens but the world has its sights on studying the application of the theory.
One option that has been hinted at is that he would seek collaboration with Mexico to hold them temporarily while their documents or other formalities are being done. A general expectation is that it would strengthen the determination of other countries that are hesitant to international reactions.
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Drill-Baby-Drill
Donald Trump was vocal about one more idea throughout his election campaigns - drill baby drill. This may not go down well with environment enthusiasts but Trump is more than determined to make it work. The theme stems from encouraging more oil drilling to curtail the high cost of the same - also making it a powerhouse with increased use of fossil fuels.
It is shocking for everyone to see this stand at a time when the world is pondering over a shift to electric vehicles. A rough expectation is that Donald Trump would certainly attempt to leverage his liquid gold as the world transitions to an environmentally friendly alternative.
Abortion
Abortion was at the center during the US Presidential election campaigns; however, that was not the first time America talked about it. Abortion is banned in four states, namely Georgia, South Carolina, Florida, and Iowa. Donald Trump has committed to leaving the ultimate decision of banning the practice to respective states. Women can still choose to have an abortion provided conditions like a threat to life are on the paper.
An expectation is that there would be turbulence within the country itself before the world reacts to its implementation. A movement called 4b Movement has already started where women have opted to not have sex, marriage, date, and kids with men. Fun fact, it has roots tracing to South Korea and is reportedly trending in online searches.
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Markets
Two markets are critical after Trump’s win in the US Presidential election against Kamala Harris. These are Gold and Crypto. Digital tokens, for one, are seeing upticks with a surge in market cap to $2.66 trillion. Bitcoin ($BTC) has surpassed the $80k mark and is exchanging hands at $80,884.28, up by 2.80% in the last 24 hours, at the time of writing this article. Gold prices are expected to have a similar path, especially since it is up by 84.90% in the last 5 years according to data by Gold Price.
It is expected that crypto companies will benefit from Donald Trump’s election with his pro-crypto policies. Gold could have the same story to narrate in terms of investments.
Conclusion
Donald Trump has a month-long process to complete before assuming the office of the US President. His proposals have brought him closer to the throne but they have to be accepted by elected members at the time of implementation. Expectations worldwide are helpful in drawing multiple outcomes and preparing for what could happen. It is ideal to wait & watch how his stands on illegal migrants, abortion, and tariffs turn out eventually.
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