Donald Trump Wins 2024 Election in Historic Comeback; Elon Musk to Join Administration, Plans 60% Tariffs on China

Nov 8, 2024, 02:14 PM

Donald Trump has won the 2024 U.S. presidential election, marking the biggest political comeback in American history since Grover Cleveland in 1892. Experts suggest that tech billionaire Elon Musk may play a significant role in the upcoming administration, potentially bringing a startup ethos to government processes and driving efficiency. Trump's victory is expected to spur tech deals and ease scrutiny on AI and TikTok. Markets have reacted with interest differentials moving in favor of the U.S. dollar, anticipating economic policies that will encourage domestic capital investment and manufacturing, potentially "blowing out BRICS." The new administration is expected to focus U.S. global strategy more on China, including imposing a 60% tariff on Chinese imports, expanding the China Initiative to combat espionage, increasing pressure over human rights and influence in Africa, and possibly increasing U.S. presence in the South China Sea. The government aims to modernize and drive efficiency by bringing in innovative leaders like Elon Musk, which could lead to lasting benefits.