We take a look at what the 2024 USA elections mean for the UK and global economies.
Following a tight US presidential election race, Donald Trump has been elected president of the United States. The narrow lead held by Kamala Harris was overturned by a historic comeback that now sees Trump gaining a second term. His victory is accompanied by a likely Republican clean sweep of the White House, Senate and House of Representatives (the vote on the latter is yet to be fully counted). The resulting power to implement new policies and push through legislation is a stark contrast to the divided US government of the past two years, which has hindered significant policy changes.
According to some CBI members, the previously uncertain outcome of the presidential and congressional elections weighed on activity in the UK, as US firms held back from committing to projects. Attention now turns to the policy agenda of the upcoming Trump administration, and how this will affect the UK.
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