Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: At around two point thirty on Wednesday morning, Donald Trump
Speaker 2: took the stage at his campaign headquarters in mar A
Speaker 2: Lago to claim victory in the US presidential election.
Speaker 3: Look what happened? Is this crazy? But it's a political
Speaker 3: victory that our country has never seen before, nothing like this.
Speaker 3: I want to thank the American people for the extraordinary
Speaker 3: honor of being elected your forty seventh president and your
Speaker 3: forty fifth president.
Speaker 2: Earlier, as the campaign watch party for Vice President Kamala
Speaker 2: Harris wound down at her alma mater, Howard University, her
Speaker 2: campaign co chair Cedric Richmond, briefly addressed the crowd, so.
Speaker 1: You won't hear from the Vice president tonight, but you
Speaker 1: will hear from her tomorrow.
Speaker 2: When Trump spoke alongside his family, inner circle and running
Speaker 2: mate J. D. Vance, he'd already secured two hundred and
Speaker 2: sixty seven of the two hundred and seventy electoral college
Speaker 2: votes he needed, clinching wins in the key battleground states
Speaker 2: of Georgia, North Carolina, and Pennsylvania, and at five thirty am,
Speaker 2: Trump was declared the projected winner of Wisconsin's ten electoral
Speaker 2: college votes, bringing his total to two hundred and seventy seven.
Speaker 2: As the results came into focus, markets reacted and the
Speaker 2: so called Trump trade searched. Bitcoin spiked, the dollar posted
Speaker 2: its biggest gain against major currencies since twenty twenty, clean
Speaker 2: energy took a hit, and Treasury bonds humbled. Today on
Speaker 2: the show how Election Day played out, reactions from around
Speaker 2: the world, and what we can expect from a second
Speaker 2: Trump term, I'm Sarah Holder, and this is the Big
Speaker 2: Take from Bloomberg News. It's four am in Washington, d C.
Speaker 2: I'm joined by Bloomberg Senior Washington editor Wendy Benjaminson. So, Wendy,
Speaker 2: for people waking up today and catching up what happened overnight.
Speaker 1: Donald Trump has won the presidency. It was not as
Speaker 1: close as we expected it to be.
Speaker 2: Well, Wendy, how does this year's Trump win compared to
Speaker 2: his path to victory in twenty sixteen.
Speaker 1: Well, it's not that dissimilar. He took all of the South,
Speaker 1: he took a large swath of the Midwest, the Plain States,
Speaker 1: and this time again he managed to break through that
Speaker 1: so called blue wall. I think we're going to have
Speaker 1: to rename that now because in twenty sixteen, Hillary Clinton
Speaker 1: failed to get all of the Pennsylvania, Michigan, Wisconsin, that
Speaker 1: industrial blue wall the Democrats have to win, and it
Speaker 1: appears that Donald Trump succeeded in that blue wall.
Speaker 2: What was Trump able to do this campaign cycle that
Speaker 2: he failed to do in twenty twenty.
Speaker 1: Well, this is one of those weird Donald Trump can
Speaker 1: get away with stuff sort of elections. He fared far
Speaker 1: better with Hispanic voters than he did in twenty sixteen
Speaker 1: or twenty twenty. And remember in twenty sixteen, one of
Speaker 1: his famous lines was Mexico is sending us their criminals
Speaker 1: and rapists, and a lot of Hispanic voters took events
Speaker 1: to that. The Sunday before October twenty seventh, he held
Speaker 1: a rally of Madison Square Garden where a comedian called
Speaker 1: Puerto Rico a floating island of garbage. And yet he
Speaker 1: fared far better, according to exit polls with Latino voters
Speaker 1: than he ever has.
Speaker 2: That didn't seem to matter in the way that people
Speaker 2: thought it might.
Speaker 1: Right, And remember Donald Trump allso so one this time
Speaker 1: against twenty sixteen, with thirty four felony convictions, a civil
Speaker 1: claim holding him responsible for rape, appointing Supreme Court justices
Speaker 1: who overturned Roe versus Wade, and a number of other
Speaker 1: comments that he's made or proposals that he has put
Speaker 1: forward that seem anathema to most Americans. And yet here
Speaker 1: we are, and while the gender gap and reproductive rights
Speaker 1: were the issues that were going to push her over
Speaker 1: the top, it failed to materialize against the popular support
Speaker 1: that Donald Trump seems to have had.
Speaker 2: You mentioned some of these issues that didn't seem to
Speaker 2: face voters when it came to Donald Trump. But let's
Speaker 2: talk about some of the issues that did decide this election.
Speaker 2: We've been talking all election season about the polls, including
Speaker 2: the Bloomberg News Morning Consult polls that showed that voters
Speaker 2: considered the economy their number one issue. Abortion also ranked
Speaker 2: highly immigration. What do we know at this point about
Speaker 2: how those issues specifically impacted the results we saw tonight?
Speaker 1: Donald Trump he pinned the economy, the post COVID economy,
Speaker 1: even though it has recovered by all measures. He pinned
Speaker 1: that on Joe Biden and by extension, Kamala Harris. He
Speaker 1: kept doing that over and over again, even though his
Speaker 1: rhetoric on immigration was authoritarian, talking about deporting millions of people,
Speaker 1: closing the border, building all those sort of things. Voters
Speaker 1: want a secure border, and he talked about it constantly,
Speaker 1: even down to the falsehoods about Haitian immigrants eating cats
Speaker 1: in Springfield, Ohio. It all spoke to voters deep fears
Speaker 1: about the other. In quotes coming in, Kamala Harris talked
Speaker 1: a little about immigration, saying that she would sign the
Speaker 1: bill that Donald Trump killed last year in Congress. She
Speaker 1: talked about a carrying economy and opportunity economy. But a
Speaker 1: lot of the time the Democrats focused on just how
Speaker 1: awful Donald Trump is, and people who think he's awful
Speaker 1: already think he's awful the people. Then there are people
Speaker 1: who think he's an awful person, but they like his policies,
Speaker 1: and then there's the people who actually don't think he's awful.
Speaker 1: Donald Trump is awful is now a proven two time
Speaker 1: losing strategy, and yet the Democrats kept doing that over
Speaker 1: and over again. And here we are, well.
Speaker 2: What about Trump's economic policies attracted voters and how much
Speaker 2: are we going to see the results?
Speaker 1: Well, that's going to be the big question, Sarah, Because
Speaker 1: his economic policies he promised to offer, he offered so
Speaker 1: many tax cuts that if every single one of them
Speaker 1: were enacted, I'm not even sure the US government could
Speaker 1: function because there just wouldn't be enough money coming in.
Speaker 1: Some of those will be enacted, but it couldn't be
Speaker 1: all of them. The tariffs he is proposing, placing sixty
Speaker 1: percent tariffs or more on imports from China that many
Speaker 1: economists say is going to raise prices for consumers. And
Speaker 1: his immigration policy if he carries out the deportation of
Speaker 1: twelve million undocumented workers in this country, an undertaking that
Speaker 1: I don't even know how something like that works or
Speaker 1: how long it would take. Nevertheless, that is going to
Speaker 1: put a huge hole in the construction industry, in the
Speaker 1: agricultural industry, and could possibly hurt the American economy. So
Speaker 1: we'll see how popular these ideas are after he begins
Speaker 1: to enact them.
Speaker 2: Well, despite these long term concerns, and even before some
Speaker 2: of these key states we're talking about were called, we
Speaker 2: saw markets responding to Trump's lead. How did they respond?
Speaker 1: Well, the dollar go stronger overnight in preparation for these
Speaker 1: tariffs to be enacted. It's very good news for bitcoin.
Speaker 1: He's a huge supporter of crypto and a number of
Speaker 1: markets rose and anticipation of certainty. I think it is
Speaker 1: not necessarily that they are happy Donald Trump won. It's
Speaker 1: they know who the president is and they are reacting
Speaker 1: to that.
Speaker 2: After the break will dig deeper into the Trump campaign
Speaker 2: promises that could become the administration's policies and what it
Speaker 2: all means for the global economy. Wendy What if Donald
Speaker 2: Trump's promises on the campaign trail told us about what
Speaker 2: his next administration is likely to prioritize in office.
Speaker 1: His priorities will certainly be the economy and immigration first
Speaker 1: and foremost. The difference this time is that in twenty sixteen,
Speaker 1: of traditional Republicans, because that was the only kind there
Speaker 1: was in twenty sixteen, joined his cabinet, joined his administration
Speaker 1: because they wanted to show this newcomer how government works
Speaker 1: and set up some guard rails for some of his
Speaker 1: more outlandish ideas. That's not happening this time. This time
Speaker 1: he is going to be surrounded by people who are
Speaker 1: loyal to him. Loyal to him is the keyword, not
Speaker 1: the constitution, the rule of law, things like that. So
Speaker 1: I think there is some fear out there about the
Speaker 1: disappearing of the guard rails that were there in his
Speaker 1: first term.
Speaker 2: What do tonight's results say about the future of abortion
Speaker 2: access in this country.
Speaker 1: Well, it is certainly now a state's issue. There is
Speaker 1: not enough Democrats or pro reproductive rights members of Congress
Speaker 1: to codify Roe Versus Way to put abortion rights back
Speaker 1: into law, and so the Supreme Court decision to send
Speaker 1: it to the states and have a patchwork of laws
Speaker 1: all over the country seems to be now the way
Speaker 1: it is. Remember also that there are still two Supreme
Speaker 1: Court justices who are nearing the age at which they
Speaker 1: might retire or pass on, and Donald Trump will have
Speaker 1: an opportunity with a Republican Senate, at least for the
Speaker 1: first two years, to appoint two more conservative justices on
Speaker 1: the Supreme Court, which would of course make the Supreme
Speaker 1: Court one of the most conservative in US history.
Speaker 2: So if Republicans do maintain control of both chambers of
Speaker 2: Congress and the presidency, what will it mean for US
Speaker 2: spending on geopolitical conflicts like the war in Ukraine or
Speaker 2: in the Middle East.
Speaker 1: Well, the Ukrainian President Vladimir Zelensky put out a statement
Speaker 1: this morning congratulating Trump and looking forward to his decisive leadership,
Speaker 1: and that was the right thing to say. Diplomatically, Donald
Speaker 1: Trump is very much into making deals. He wants to
Speaker 1: make a deal with Putin. He wants Putin and Zelenski
Speaker 1: to come to a table and come to terms. Those
Speaker 1: terms would end up probably being more favorable to Russia
Speaker 1: than to Ukraine, and the US would no longer support
Speaker 1: Ukraine and its fight against the invasion. It is also
Speaker 1: extremely good news for Israeli Prime Minister Benjamin Netanyahu. Kamala
Speaker 1: Harris had at least suggested some interest in the humanitarian
Speaker 1: crisis going on in Gaza, and what former President Trump
Speaker 1: has said is that bb Netanyahu's nickname Bib, needs to
Speaker 1: finish the job in Gaza. And so despite the fact
Speaker 1: that I think he got more Arab American support than
Speaker 1: one would have suspected, I think this is a very
Speaker 1: good day for Putin and Netanyahu.
Speaker 2: This is the big take from Bloomberg News. I'm Sarah Holder.
Speaker 2: This episode was produced by David Fox, Thomas Lou and
Speaker 2: Julia Press. It was edited by Aaron Edwards and Wendy Benjaminson.
Speaker 2: This episode was mixed by Alex Suguia. It was fact
Speaker 2: checked by Thomas Lou Julia Press and Jessica Beck. Our
Speaker 2: senior producer is Naomi shaven. Our senior editor is Elizabeth Ponso.
Speaker 2: Our executive producer is Nicole Beemster Boor. Sage Bauman is
Speaker 2: Bloomberg's head of podcasts. If you like this episode, make
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Speaker 2: for listening. We'll be back tomorrow