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<\/a>Domestically, the result gives his party the upper hand in next year\u2019s battle to rewrite the tax code, and four years to reshape the federal judiciary. Trump has pledged dramatic action upon returning to office, from a sweeping immigration crackdown to a regulatory rollback, as well as steep cuts to federal spending, a purge of civil servants, and a vow to prosecute political enemies.<\/p>\n\n\n\n
Internationally, Trump\u2019s return could call US security commitments into question \u2014 especially to Ukraine, as it fends off Russia\u2019s invasion. Trump also vowed to ramp up the trade contest with China, and slap tariffs on other countries too \u2014 moves that could upend global trade.<\/p>\n\n\n\n
S&P 500 futures climbed, 10-year yields rose and Bitcoin spiked as markets digested Trump\u2019s victory. <\/p>\n\n\n\n
Trump clinched his victory as voters across the country lurched to the right, enabling him to capture key battleground states including Pennsylvania, Georgia, and North Carolina.<\/p>\n\n\n\n
Exit polls indicated that despite Harris focusing heavily on turning out female voters – hoping frustration in the aftermath of the Supreme Court overturning federal abortion rights protections would help expand her advantage – she was unable to improve on Biden\u2019s showing with women. But Trump, who devoted significant resources to targeting young and minority men, posted significant gains with Black and Hispanic men compared to four years prior.<\/p>\n\n\n\n
The election was driven in large part by Americans\u2019 post-pandemic frustration with decades-high inflation, a surge of migrants at the southern border and growing cultural divides.<\/p>\n\n\n\n
Trump\u2019s White House comeback represents a calamity for Democrats, who rallied quickly around Harris only to again fail to prevent a man they have cast as an existential threat to democracy itself from returning to office.<\/p>\n\n\n\n
The first woman to serve as vice president, Harris campaigned for just 107 days after President Joe Biden turned the contest upside down by dropping out and endorsing her. In rejecting the 60-year old Harris, voters opted against a generational shift and a candidate seeking to be the first woman president. Harris, who is expected to address supporters later Wednesday, would have also been the first Black and Asian American woman to lead the US.<\/p>\n\n\n\n
The election hinged on the economy<\/a>, a dominant issue and one where voters said they favored Trump over Harris. Americans experienced the highest inflation since the 1980s during the Biden administration in the pandemic\u2019s aftermath, overshadowing the economic rebound and low unemployment rates touted by the Harris campaign.<\/p>\n\n\n\n This is a modal window.<\/p>\n\n\n\n The media could not be loaded, either because the server or network failed or because the format is not supported.<\/p>\n\n\n\n Polls found voter nostalgia for Trump\u2019s first term, before Covid hit, when incomes for the typical American household rose much faster than they did under Biden. Harris sought to highlight darker moments of that era, including the attempted insurrection at the US Capitol on Jan. 6, 2021, and warnings from his former aides about anti-democratic impulses. In the final days before the election, Trump\u2019s former chief of staff John Kelly said the Republican nominee had made admiring comments about Adolf Hitler.<\/p>\n\n\n\n In Vice President-elect JD Vance, 40, Trump has a fellow populist who has positioned himself as a potential heir to the Make America Great Again movement.<\/p>\n\n\n\n Trump now confronts governing a country deeply at odds with itself – and weighing how to prioritise his promises. He has vowed to deport millions of undocumented immigrants and, if necessary, deploy the military domestically. Now that conservative jurists he placed on the Supreme Court have bestowed presidents with immunity for official actions, Trump will return to the White House less constrained by law and with institutional knowledge gained from his first term.\u00a0<\/p>\n\n\n\n The final days of Trump\u2019s comeback bid were marked by his incendiary rhetoric<\/a> including a rally held at Madison Square Garden in New York that included racist and misogynistic speeches.<\/p>\n\n\n\n Still, business leaders<\/a>, many of whom shunned Trump after his 2021 exit, rebounded to his side, wooed by promises to slash corporate tax rates, roll back regulations and embrace of burgeoning industries such as cryptocurrency.<\/p>\n\n\n\n In less than four years, Trump managed an astounding political recovery that seemed unlikely when he left office on Jan. 20, 2021, skipping Biden\u2019s inauguration and under a cloud over the attack on the Capitol. Grover Cleveland is the only other<\/a> US president to have lost a reelection bid and come back to win another nonconsecutive term.<\/p>\n\n\n\n Trump\u2019s woes multiplied in 2022 when the FBI searched his Mar-a-Lago home to retrieve top secret documents removed during his time in office.<\/p>\n\n\n\n Despite these challenges, Trump made official his third White House run in November 2022. <\/p>\n\n\n Backed by a small, tight-knit group of operatives who brought new\u00a0discipline and organisation<\/a>\u00a0\u2014 and largely avoided the backbiting that pervaded past campaigns \u2014 Trump quickly trounced his primary opponents. He mercilessly derided top rivals like Florida Governor Ron DeSantis and former South Carolina Governor Nikki Haley.<\/p>\n\n\n\n Trump only strengthened his hold on Republicans despite facing four indictments across federal and state courts over alleged efforts to overturn the 2020 election result, his retention of classified documents and hush-money payments to a porn star. A New York City jury in the latter case found him guilty on 34<\/a> felony counts, a first for a former president.<\/p>\n\n\n\n Trump, though, cast himself as a political martyr \u2014 including fundraising off a mug shot from Georgia \u2014 and in the process supercharged his campaign as Republicans rallied behind him. <\/p>\n\n\n\nTrump Nostalgia<\/h3>\n\n\n\n
Political Comeback<\/h3>\n\n\n\n
<\/a>Unorthodox Campaign<\/h3>\n\n\n\n