Republican Donald Trump claimed victory in the 2024 presidential contest after Fox News Channel reported that he defeated Democrat Kamala Harris, which would complete his stunning political comeback four years after leaving the White House.
Trump said on Wednesday before a roaring crowd of supporters at the Palm Beach County Convention Centre:
America has given us an unprecedented and powerful mandate.
According to Edison Research, other news outlets have yet to call the results of the race in Trump’s favour, but he appears to be on the verge of victory, having captured the states of Pennsylvania, North Carolina and Georgia and holding a lead in the other four.
Trump gave a victory speech in Florida, thanking all those who voted for him. His wife Melania and son Barron were by his side at the time. He said:
Thank you Americans for your votes! Let’s make America great again! My result is a political victory that the history of the United States has never known before.
Harris did not address her supporters, who gathered at her alma mater, Howard University. Her campaign co-chairman Cedric Richmond briefly addressed the crowd after midnight, saying Harris would speak publicly Wednesday. He said:
We still have votes to count.
Harris needs more than 270 electoral votes to win the election. The former US president has crossed that threshold with 277 already. Now the counting of votes continues, but the necessary threshold for victory Trump has already overcome.
Trump showed strength in wide swathes of the country, improving his 2020 performance everywhere from rural areas to urban centres.
Republicans won a majority in the US Senate after picking up seats from Democrats in West Virginia and Ohio. In the battle for control of the House of Representatives, where Republicans currently hold a narrow majority, neither side had an advantage.
On Election Day, Trump’s chances of regaining the White House were 50/50, a surprising turnaround from January 6, 2021, when many pundits declared his political career over. On that day, a mob of his supporters stormed Congress in a furious attempt to overturn the results of the 2020 election.
Exit polls data
According to Edison exit polls, Trump gained more support among Hispanics, traditionally Democratic voters, and low-income households, who have felt the price hikes acutely since the last 2020 presidential election.
Trump received 45 percent of the Hispanic vote nationwide, behind Harris with 53 percent, but up 13 percentage points from 2020.
About 31 percent of voters cited the economy as their top issue, and they voted for Trump by a margin of 79 percent to 20 percent, according to exit polls. About 45 percent of voters nationwide said their family’s financial situation is worse today than it was four years ago, and they favoured Trump 80 percent to 17 percent.
On Tuesday, global investors were increasingly leaning towards Trump winning. US stock futures and the dollar rose, Treasury bond yields rose and bitcoin rose in price – all of which analysts and investors noted as trades favourable to a Trump victory.
By 12:30 p.m., officials had nearly finished counting ballots in more than 1,600 counties – about half the country – and Trump’s share was up about two percentage points from 2020, reflecting a broad, though not particularly deep, shift in Americans’ support for the president they ousted four years ago.
He improved in suburban counties, rural areas and even some big cities that have historically been bastions of Democratic support; in high- and low-income districts; in places where unemployment was relatively high and in places where it is now at record lows.
Harris was counting on a large margin among urban and suburban voters, but her support in those places is well behind President Joe Biden’s support in the 2020 election.
Trump’s campaign promises
The main point of Trump’s economic programme was to impose tariffs of 10-20% on all imported goods, and up to 60% if they are of Chinese origin. According to the new president, this step will contribute to the development of American industry and force manufacturers to move their factories to the US.
He also advocated lowering the tax rate for corporations that produce their goods in the US from 21% to 15%, abolishing taxes on tips and social security benefits, and doing away with double taxation for US citizens living abroad.
Trump intends to fight high housing prices. To this end, he proposes to expel immigrants who live in the country illegally.
In this election race, Trump also promised to end the conflict in Ukraine within 24 hours in case of victory. However, the former president later decided that he would need more time to resolve the situation. He stated that he would resolve the issue before his inauguration, which will take place on January 20, 2025.
