The CEO of Tesla, billionaire Elon Musk and one of the biggest supporters of president-elect Donald Trump, has been probably the most active unofficial Trump campaigner on X, which is also owned by Musk. He has shared a lot of videos, and posts and even replied to some during and after the US presidential election.

In the hope of getting a response from Musk, the staunch supporter of the Republican candidate, an Indian man took to X and asked him to ensure there were H-1B visa reforms, not that Trump had won the election.

“Dear @elonmusk, Congratulations on winning the election! It took you 10 years to obtain citizenship in the USA, including your undergraduate and master's studies. You moved to the US in 1992 and became a US citizen in 2002,” Sanjeev Ranjan wrote on X. “Please do justice for Indian-born H-1B visas.”

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Dear <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a>, 
 
Congratulations 🎉 on winning the election! It took you 10 years to obtain citizenship in the USA, including your undergraduate and master's studies. You moved to the US in 1992 and became a US citizen in 2002. 
 
Please do justice for Indian-born H-1B visas. <a href="https://t.co/xogaMjKeu8">pic.twitter.com/xogaMjKeu8</a>
— Sanjeev Ranjan (@loveyoumykids) <a href="https://twitter.com/loveyoumykids/status/1854642304637600048?ref_src=twsrc%5Etfw">November 7, 2024</a></blockquote>
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Though Musk didn’t reply to the post, it garnered support from many other Indians in the comment section who resonated with the X user.

“So many are stuck in this problem, unfortunately. And there is a lot of misinformation about this and particular hate for this visa,” one user wrote.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/world/trump-20-cabinet-to-have-elon-musk-as-secretary-of-cost-cutting-tesla-ceo-says-774480">Trump 2.0 cabinet to have Elon Musk as 'secretary of cost-cutting'? Tesla CEO says…</a>

“Revive the American dream! The infinite wait time for legal immigrants for Indian born is a nightmare. I invented a concrete product that will benefit the USA, and being on H1B, I'm stuck and can not pursue my dreams because of the complex legal immigration,” another user commented.&nbsp;

One said, “Also Indians are not eligible to apply for permanent resident status through the Diversity Visa LOTTERY. At least make ALL nationalities eligible for the LOTTERY if they spend hundreds of thousands of $ on their Ungergrad / grad / PhD programs (say $200k spent in total on FEES)”.&nbsp;

As per a Washington Post report published earlier, Musk briefly worked illegally in the US after he abandoned a graduate studies program in California.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/world/elon-musk-forecasts-justin-trudeaus-fall-says-he-will-be-gone-in-the-774552">Elon Musk forecasts Justin Trudeau's fall, says 'he will be gone in the...'</a>

If this is true then Musk's support and promotion for Trump’s opposition to "open borders," is ironic. He even previously said that his transition from student to entrepreneur was a "legal grey area."

However, Musk later denied the claims made in the report. Sharing a video of Joe Biden referencing the Washington Post report’s claims on X, Musk wrote, “I was in fact allowed to work in the US. The Biden puppet is lying.”

Experts are expecting Trump could tighten H-1B visa rules after assuming office, which will be a major setback for Indians seeking to move to the US.

(With inputs from agencies)

The CEO of Tesla, billionaire Elon Musk and one of the biggest supporters of president-elect Donald Trump, has been probably the most active unofficial Trump campaigner on X, which is also owned by Musk.

The CEO of Tesla, billionaire Elon Musk and one of the biggest supporters of president-elect Donald Trump, has been probably the most active unofficial Trump campaigner on X, which is also owned by Musk. He has shared a lot of videos, and posts and even replied to some during and after the US presidential election. In the hope of getting a response from Musk, the staunch supporter of the Republican candidate, an Indian man took to X and asked him to ensure there were H-1B visa reforms, not that Trump had won the election. “Dear @elonmusk, Congratulations on winning the election! It took you 10 years to obtain citizenship in the USA, including your undergraduate and master's studies. You moved to the US in 1992 and became a US citizen in 2002,” Sanjeev Ranjan wrote on X. “Please do justice for Indian-born H-1B visas.” Dear @elonmusk, Congratulations 🎉 on winning the election! It took you 10 years to obtain citizenship in the USA, including your undergraduate and master's studies. You moved to the US in 1992 and became a US citizen in 2002. Please do justice for Indian-born H-1B visas. pic.twitter.com/xogaMjKeu8 — Sanjeev Ranjan (@loveyoumykids) November 7, 2024 × Though Musk didn’t reply to the post, it garnered support from many other Indians in the comment section who resonated with the X user. “So many are stuck in this problem, unfortunately. And there is a lot of misinformation about this and particular hate for this visa,” one user wrote. Also Read | Trump 2.0 cabinet to have Elon Musk as 'secretary of cost-cutting'? Tesla CEO says… “Revive the American dream! The infinite wait time for legal immigrants for Indian born is a nightmare. I invented a concrete product that will benefit the USA, and being on H1B, I'm stuck and can not pursue my dreams because of the complex legal immigration,” another user commented. One said, “Also Indians are not eligible to apply for permanent resident status through the Diversity Visa LOTTERY. At least make ALL nationalities eligible for the LOTTERY if they spend hundreds of thousands of $ on their Ungergrad / grad / PhD programs (say $200k spent in total on FEES)”. As per a Washington Post report published earlier, Musk briefly worked illegally in the US after he abandoned a graduate studies program in California. Also Read | Elon Musk forecasts Justin Trudeau's fall, says 'he will be gone in the...' If this is true then Musk's support and promotion for Trump’s opposition to "open borders," is ironic. He even previously said that his transition from student to entrepreneur was a "legal grey area." However, Musk later denied the claims made in the report. Sharing a video of Joe Biden referencing the Washington Post report’s claims on X, Musk wrote, “I was in fact allowed to work in the US. The Biden puppet is lying.” Experts are expecting Trump could tighten H-1B visa rules after assuming office, which will be a major setback for Indians seeking to move to the US. (With inputs from agencies)

'Please do justice': Indian Americans seek Elon Musk's help for H-1B visa reforms

South Korean President Yoon Suk Yeol discussed the presence of North Korean troops in Russia with US President-elect Donald Trump in a phone conversation Yoon discussed his growing concern about Kim Jong Un's deepening military cooperation with Moscow.

South Korean President Yoon Suk Yeol discussed the presence of North Korean troops in Russia with US President-elect Donald Trump in a phone conversation Yoon discussed his growing concern about Kim Jong Un's deepening military cooperation with Moscow. According to the media reports, Yoon said on Thursday (Nov 7) in a press conference that Trump raised the topic in the first 12 minutes of the call during which the two discussed various issues, such as intercontinental ballistic missiles being developed by Pyongyang. It was not clear what Trump said about the issue during the call. Claiming that he can build a strong relationship with the Republican, Yoon said, “We will strongly protect our freedom and peace by establishing a perfect South Korea-US security posture with the new administration in Washington," Bloomberg reported. At the same time, the South Korean president added that he would work to minimise any potential impact of the Trump administration on South Korea's economy. Also read: Amsterdam riots: Netanyahu orders rescue aircraft for Maccabi Tel Aviv fans In his election campaign, Trump promised to end the Russia-Ukraine war "within 24 hours" by making the two countries negotiate. Trump's relationship with Kim Jon Un Donald Trump and North Korean leader Kim Jong Un traded insults and threats during his first presidency over Pyongyang's weapons programs, although they met three times, and Trump once quipped, "We fell in love" after exchanging letters. But even with the three summits they held, Trump failed to persuade Kim to give up his nuclear weapons, while diplomatic efforts under the Biden administration also stalled with the North ignoring a call to meet "anywhere, anytime without preconditions". The relationship is likely to come under fresh focus as Trump returns to the White House and North Korea takes unprecedented steps to help Russia in the Ukraine war. (With inputs from agencies)

South Korea’s Yoon discusses North Korean troops in Russia with Trump

During his campaign, Donald Trump has made several high-profile promises, some of which have sparked debate over their feasibility and potential impact. In this report, we explore the implications of Donald Trump’s return to the White House.

Donald Trump's White House Return: What to Expect?

There is speculation that Donald Trump might attempt to revive his 2020 peace plan for Israel-Palestine, particularly in the context of ongoing regional tensions. While his plan gained some initial support, its effectiveness in resolving the conflict remains uncertain, with many critics questioning its fairness and viability in the current geopolitical climate.

Donald Trump Official Says 'Much of 2020 Peace Plan Still Relevant'

Outgoing United States (US) President Joe Biden on Thursday (Nov 7) sought to console fellow leaders of the Democratic Party following Donald Trump's victory in the November 5 presidential election.

Outgoing United States (US) President Joe Biden on Thursday (Nov 7) sought to console fellow leaders of the Democratic Party following Donald Trump's victory in the November 5 presidential election. In an address at the White House Rose Garden, President Biden said, "Setbacks are unavoidable. Giving up is unforgivable. A defeat does not mean we are defeated." Biden praises Harris During his address, Biden praised Vice President Kamala Harris by saying that she ran an inspiring campaign for the presidential election. Also read | Joe Biden breaks silence on Kamala Harris' defeat in US election Harris was the presidential candidate for the Democratic Party. "She has a backbone like a ramrod, she has great character, true character. She gave her whole heart and effort, and she and her entire team should be proud of the campaign they ran," Biden said. He pointed out that the November 5 election had proven the integrity of the American electoral system and pledged an orderly transfer of power. Biden also invited Trump to the White House- and Trump's campaign said that the president-elect would go. The disappointment among Democrats A report by the news agency Reuters on Thursday said that some Democrats have blamed Biden for Harris' defeat- saying that the 81-year-old should not have sought re-election. Biden only dropped his reelection bid in July after a disastrous TV debate with Trump raised concerns about his mental fitness. Harris replaced Biden as the presidential candidate for the Democrats. Also watch | Race to Power: Who are the top contenders in Trump cabinet 2.0? × Apart from Biden, Harris also sought to console supporters. She promised to aid Trump's transition before his inauguration on Jan. 20 but urged Democrats to continue to fight for what they believe in. (With inputs from agencies)

Defeat doesn't mean we're defeated: Biden seeks to console Democrats following Trump's win in US election

Donald Trump’s youngest son Barron Trump who was once a shy little guy turned out to be a tall, calm man with a charismatic personality. The internet was all pumped up to see Barron at Trump’s victory speech in Florida where he was seen nodding at all the president-elect’s significant arguments.

Since Trump’s historic win, people have discussed how Barron helped his father’s campaign strategy reach younger, particularly, the GenZ demographics.&nbsp;

Now, UK MP Nigel Farage shared an X post praising Donald and Melania Trump’s son, who is studying business at New York University.

Also Read |&nbsp;<a href="https://www.wionews.com/world/california-governor-moves-to-pre-emptively-block-unlawful-trump-policies-774516">California governor moves to pre-emptively block 'unlawful' Trump policies</a>

“Barron Trump is a very bright 18-year-old who played a big part in his father’s stunning victory,” he wrote. He added a picture of himself with the Trump scion standing tall at 6ft 7in.

Take a look.

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Barron Trump is a very bright 18 year old who played a big part in his father’s stunning victory. <a href="https://t.co/kPFSDEx0Yi">pic.twitter.com/kPFSDEx0Yi</a>
— Nigel Farage MP (@Nigel_Farage) <a href="https://twitter.com/Nigel_Farage/status/1854571080272232625?ref_src=twsrc%5Etfw">November 7, 2024</a></blockquote>
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Farage is the leader of Reform UK and a long-time ally of Donald Trump.

The 18-year-old acted as Trump's unofficial advisor during his father's presidential campaign, helping his father win those "bro votes."&nbsp;

The proud father Trump praised Barron at the MSG rally. “Barron is the king of the internet,” Trump declared, adding,

“People can’t get enough of him. The way people follow his every move—it’s truly something.”

Watch |&nbsp;US Elections Result: Trump’s Return To Change Trajectory Of His Legal Challenges | WION Originals

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In a North Carolina during his campaign, Trump revealed what his son Barron Trump told him as Election Day nears.

“I have a guy who’s home with the first lady. He’s very smart,” Donald Trump said (via Daily Mail). “He’s 18 years old. And he gives me good advice.”

“‘Dad, take it easy, now. You just take it easy Dad, alright? You don’t have to go too much here.’ He gives me good – he’s very wise,“ Donald Trump continued.

Also Read |&nbsp;<a data-ved="2ahUKEwirkcm8_cuJAxXASWwGHetAEwQQxfQBKAB6BAgHEAE" href="https://www.wionews.com/world/most-watched-bachelor-all-about-donald-trumps-youngest-son-barron-trump-773976" jsname="YKoRaf" ping="/url?sa=t&amp;source=web&amp;rct=j&amp;opi=89978449&amp;url=https://www.wionews.com/world/most-watched-bachelor-all-about-donald-trumps-youngest-son-barron-trump-773976&amp;ved=2ahUKEwirkcm8_cuJAxXASWwGHetAEwQQxfQBKAB6BAgHEAE">‘Most watched bachelor’: All about Donald Trump`s youngest son Barron Trump</a>

During the victory speech event, many noticed the striking height difference between the youngest Trump son and the other family members. It didn’t take long for Barron’s height to be a topic of discussion on social media, with many asking, “How tall is Barron Trump?”

In an earlier interview, Donald Trump said, talking about his son’s impressive height, “That's how he got so tall; he only ate her (his late grandmother) food.”

(With inputs from agencies)

Donald Trump’s youngest son Barron Trump who was once a shy little guy turned out to be a tall, calm man with a charismatic personality. The internet was all pumped up to see Barron at Trump’s victory speech in Florida where he was seen nodding at all the president-elect’s significant arguments.

Donald Trump’s youngest son Barron Trump who was once a shy little guy turned out to be a tall, calm man with a charismatic personality. The internet was all pumped up to see Barron at Trump’s victory speech in Florida where he was seen nodding at all the president-elect’s significant arguments. Since Trump’s historic win, people have discussed how Barron helped his father’s campaign strategy reach younger, particularly, the GenZ demographics. Now, UK MP Nigel Farage shared an X post praising Donald and Melania Trump’s son, who is studying business at New York University. Also Read | California governor moves to pre-emptively block 'unlawful' Trump policies “Barron Trump is a very bright 18-year-old who played a big part in his father’s stunning victory,” he wrote. He added a picture of himself with the Trump scion standing tall at 6ft 7in. Take a look. Barron Trump is a very bright 18 year old who played a big part in his father’s stunning victory. pic.twitter.com/kPFSDEx0Yi — Nigel Farage MP (@Nigel_Farage) November 7, 2024 × Farage is the leader of Reform UK and a long-time ally of Donald Trump. The 18-year-old acted as Trump's unofficial advisor during his father's presidential campaign, helping his father win those "bro votes." The proud father Trump praised Barron at the MSG rally. “Barron is the king of the internet,” Trump declared, adding, “People can’t get enough of him. The way people follow his every move—it’s truly something.” Watch | US Elections Result: Trump’s Return To Change Trajectory Of His Legal Challenges | WION Originals × In a North Carolina during his campaign, Trump revealed what his son Barron Trump told him as Election Day nears. “I have a guy who’s home with the first lady. He’s very smart,” Donald Trump said (via Daily Mail). “He’s 18 years old. And he gives me good advice.” “‘Dad, take it easy, now. You just take it easy Dad, alright? You don’t have to go too much here.’ He gives me good – he’s very wise,“ Donald Trump continued. Also Read | ‘Most watched bachelor’: All about Donald Trump`s youngest son Barron Trump During the victory speech event, many noticed the striking height difference between the youngest Trump son and the other family members. It didn’t take long for Barron’s height to be a topic of discussion on social media, with many asking, “How tall is Barron Trump?” In an earlier interview, Donald Trump said, talking about his son’s impressive height, “That's how he got so tall; he only ate her (his late grandmother) food.” (With inputs from agencies)

Trump's British ally Nigel Farage praises 'very bright 18-year-old' Barron

California’s Democratic Governor and Donald Trump's fierce critic&nbsp;Gavin Newsom called on Thursday (Nov 7) for a special session ahead of Trump's second term in the White House to safeguard America's progressive policies.&nbsp;

"The freedoms we hold dear in California are under attack, and we won't sit idle," Newsom&nbsp;reportedly said in a statement.&nbsp;

The move has reignited California's resistance against conservative policies a day after the Republicans swept the 2024 presidential election defeating Vice President Kamala Harris.&nbsp;

Newsom urged lawmakers to prepare to fight "unlawful" federal policies on issues including abortion, immigration and climate change.

Liberal bulwark California led multiple legal battles against the White House during the first Trump presidency, on matters from auto emission limits to border wall construction, and&nbsp;Newsom&nbsp;called on the nation's most populous state to reprise that role ahead of the Republican's return to power.

Also read:&nbsp;<a href="https://www.wionews.com/world/trump-20-cabinet-who-is-susie-wiles-an-ice-maiden-and-first-woman-white-house-chief-of-staff-774501">Trump 2.0 cabinet: Who is Susie Wiles, first woman White House chief of staff</a>

"California has faced this challenge before, and we know how to respond. We are prepared to fight in the courts, and we will do everything necessary to ensure Californians have the support and resources they need to thrive."

Specifically, the extraordinary session starting on December 2 will discuss boosting funding for legal action for California's justice department and other agencies to challenge the incoming Trump administration's policies in court.

Newsom&nbsp;said California lawyers have been preparing these measures "for more than a year" by readying arguments and evidence to challenge any "unconstitutional and unlawful federal policies" pursued by the Trump White House.&nbsp;

During Trump's first term, California launched dozens of lawsuits against the federal administration, often joining forces with other states, in particular fellow liberal West Coast states Oregon and Washington.

Washington Governor-elect Bob Ferguson was expected to announce similar pre-emptive measures at a press conference later Thursday.

The calls to action follow an election in which Republicans took not just the White House, but won the popular vote, secured control of the Senate and appeared likely to hold onto a majority in the House of Representatives.

Trump campaigned on pledges including mass deportation of illegal immigrants, and a shift from renewable energy toward the US oil sector.

Abortion rights advocates fear a Republican-controlled Congress enacting sweeping national restrictions or an outright ban, while Trump has publicly vowed to take revenge on his political enemies.

Newsom's special session will focus on protecting civil rights, reproductive freedom, climate action, and immigrant families, according to a statement.

It will be "the first of several actions" to shore up California's defences against the incoming administration, a statement said.

"California is ready to fight," wrote&nbsp;Newsom, on social media.&nbsp;

"Whether it be our fundamental civil rights, reproductive freedom, or climate action -- we refuse to turn back the clock and allow our values and laws to be attacked," he said.

(With inputs from agencies)

California’s Democratic Governor and Donald Trump's fierce critic Gavin Newsom called on Thursday (Nov 7) for a special session ahead of Trump's second term in the White House to safeguard America's progressive policies.

California’s Democratic Governor and Donald Trump's fierce critic Gavin Newsom called on Thursday (Nov 7) for a special session ahead of Trump's second term in the White House to safeguard America's progressive policies. "The freedoms we hold dear in California are under attack, and we won't sit idle," Newsom reportedly said in a statement. The move has reignited California's resistance against conservative policies a day after the Republicans swept the 2024 presidential election defeating Vice President Kamala Harris. Newsom urged lawmakers to prepare to fight "unlawful" federal policies on issues including abortion, immigration and climate change. Liberal bulwark California led multiple legal battles against the White House during the first Trump presidency, on matters from auto emission limits to border wall construction, and Newsom called on the nation's most populous state to reprise that role ahead of the Republican's return to power. Also read: Trump 2.0 cabinet: Who is Susie Wiles, first woman White House chief of staff "California has faced this challenge before, and we know how to respond. We are prepared to fight in the courts, and we will do everything necessary to ensure Californians have the support and resources they need to thrive." Specifically, the extraordinary session starting on December 2 will discuss boosting funding for legal action for California's justice department and other agencies to challenge the incoming Trump administration's policies in court. Newsom said California lawyers have been preparing these measures "for more than a year" by readying arguments and evidence to challenge any "unconstitutional and unlawful federal policies" pursued by the Trump White House. During Trump's first term, California launched dozens of lawsuits against the federal administration, often joining forces with other states, in particular fellow liberal West Coast states Oregon and Washington. Washington Governor-elect Bob Ferguson was expected to announce similar pre-emptive measures at a press conference later Thursday. The calls to action follow an election in which Republicans took not just the White House, but won the popular vote, secured control of the Senate and appeared likely to hold onto a majority in the House of Representatives. Trump campaigned on pledges including mass deportation of illegal immigrants, and a shift from renewable energy toward the US oil sector. Abortion rights advocates fear a Republican-controlled Congress enacting sweeping national restrictions or an outright ban, while Trump has publicly vowed to take revenge on his political enemies. Newsom's special session will focus on protecting civil rights, reproductive freedom, climate action, and immigrant families, according to a statement. It will be "the first of several actions" to shore up California's defences against the incoming administration, a statement said. "California is ready to fight," wrote Newsom, on social media. "Whether it be our fundamental civil rights, reproductive freedom, or climate action -- we refuse to turn back the clock and allow our values and laws to be attacked," he said. (With inputs from agencies)

California governor moves to pre-emptively block 'unlawful' Trump policies

Slowing electric-vehicle adoption is likely to accelerate even further as President-Elect Donald Trump delivers on his promise to gut plug-in friendly policies he called the “green new scam”, according to a detailed report by Bloomberg.

Automotive forecaster GlobalData on Wednesday cut its outlook for EV market share in the US for 2030 to 28 per cent from 33 per cent due to Trump’s election, the Bloomberg report explained further.

“The transition to electric vehicles in the US will be hindered under Trump’s administration,” Jeff Schuster, GlobalData’s vice president of automotive research, said in a note. Trump’s focus on lowering oil prices and weakening tailpipe emissions standards could reduce electric-vehicle market share by 15 per cent to 20 per cent, he said, the Bloomberg report explained further.

Billions of dollars have been invested in EV plants<o:p></o:p>

Automakers have poured billions of dollars into battery and EV plants in a push to field more electric models that will increasingly required under US rules governing vehicle efficiency and tailpipe emissions. Now, some $129 billion worth of EV investment in North America through 2027 is “at risk,” Mark Wakefield, co-head of the automotive practice at consultant AlixPartners, said in an interview.

The $7,500 tax credit consumers can receive for buying a North American-built EV could also be in jeopardy, the Bloomberg report explained further.

“What the EV market will look five years out is less, much less,” Wakefield said. “The amount of vehicles you want out of your factories and your industrialization for EVs is less and less for longer.”

Automakers will continue to slow spending on EVs and delay or cancel new battery-powered models, Wakefield said. They have been making those moves in advance of the election and likely would have reversed them had Vice President Kamala Harris prevailed in the presidential race, he said.

Carmakers will also look for ways to increase production of profitable gasoline-fueled vehicles while converting EV plants into facilities that can also build gas-electric hybrids, as Volkswagen AG’s new Scout lineup is doing at its $2 billion EV factory under construction in South Carolina.

“From a profitability perspective it’s a challenge because you’ve got a lot of industrial plans with assumed volumes for EVs that are less” now, Wakefield said. “So some of those plants might turn into hybrid plants doing both, rather than pure EV.”

Trump will have difficulties rolling back Biden’s Inflation reduction Act<o:p></o:p>

Trump will face difficulties rolling back President Joe Biden’s Inflation Reduction Act legislation that spurred a building boom of EV and battery factories, many in Republican-leaning states. Bigger changes are likely in store for fuel economy regulations, Wakefield said. Trump softened those rules during his first administration and has promised to end what he calls “EV mandates” on the first day of his second term, though changing such policies involves a lengthy process that can take months or years.

“It’s less about what happens this year,” Wakefield said. “That doesn’t hit you until 2027.” Market participants and investors will follow these developments carefully. This will help them in making better investment decisions going ahead, about the electric vehicle sector.

<o:p>&nbsp;</o:p>

Slowing electric-vehicle adoption is likely to accelerate even further as President-Elect Donald Trump delivers on his promise to gut plug-in friendly policies he called the “green new scam”, according to a detailed report by Bloomberg.

Slowing electric-vehicle adoption is likely to accelerate even further as President-Elect Donald Trump delivers on his promise to gut plug-in friendly policies he called the “green new scam”, according to a detailed report by Bloomberg. Automotive forecaster GlobalData on Wednesday cut its outlook for EV market share in the US for 2030 to 28 per cent from 33 per cent due to Trump’s election, the Bloomberg report explained further. “The transition to electric vehicles in the US will be hindered under Trump’s administration,” Jeff Schuster, GlobalData’s vice president of automotive research, said in a note. Trump’s focus on lowering oil prices and weakening tailpipe emissions standards could reduce electric-vehicle market share by 15 per cent to 20 per cent, he said, the Bloomberg report explained further. Billions of dollars have been invested in EV plants Automakers have poured billions of dollars into battery and EV plants in a push to field more electric models that will increasingly required under US rules governing vehicle efficiency and tailpipe emissions. Now, some $129 billion worth of EV investment in North America through 2027 is “at risk,” Mark Wakefield, co-head of the automotive practice at consultant AlixPartners, said in an interview. The $7,500 tax credit consumers can receive for buying a North American-built EV could also be in jeopardy, the Bloomberg report explained further. “What the EV market will look five years out is less, much less,” Wakefield said. “The amount of vehicles you want out of your factories and your industrialization for EVs is less and less for longer.” Automakers will continue to slow spending on EVs and delay or cancel new battery-powered models, Wakefield said. They have been making those moves in advance of the election and likely would have reversed them had Vice President Kamala Harris prevailed in the presidential race, he said. Carmakers will also look for ways to increase production of profitable gasoline-fueled vehicles while converting EV plants into facilities that can also build gas-electric hybrids, as Volkswagen AG’s new Scout lineup is doing at its $2 billion EV factory under construction in South Carolina. “From a profitability perspective it’s a challenge because you’ve got a lot of industrial plans with assumed volumes for EVs that are less” now, Wakefield said. “So some of those plants might turn into hybrid plants doing both, rather than pure EV.” Trump will have difficulties rolling back Biden’s Inflation reduction Act Trump will face difficulties rolling back President Joe Biden’s Inflation Reduction Act legislation that spurred a building boom of EV and battery factories, many in Republican-leaning states. Bigger changes are likely in store for fuel economy regulations, Wakefield said. Trump softened those rules during his first administration and has promised to end what he calls “EV mandates” on the first day of his second term, though changing such policies involves a lengthy process that can take months or years. “It’s less about what happens this year,” Wakefield said. “That doesn’t hit you until 2027.” Market participants and investors will follow these developments carefully. This will help them in making better investment decisions going ahead, about the electric vehicle sector.

EV growth projections for Trump era are being significantly revised downward

China is looking to “resolve conflicts” in trade with the next US administration while now facing the increased likelihood of more tariffs being put in place, as advocated by US President-elect Donald Trump, according to a detailed report by South China Morning Post.

“China is willing to strengthen communication, expand cooperation and resolve conflicts with the United States by the principles of mutual respect, peaceful coexistence, and win-win cooperation,” Ministry of Commerce (Mofcom) spokeswoman He Yongqian said on Thursday afternoon – a day after the former US president’s return to power became clear following Tuesday’s election, the South China Morning Post report explained further.

She added that Beijing looks to “jointly promote the development of China-US economic and trade relations in a stable, healthy and sustainable direction that would benefit both countries and the world”.

During the same press conference, Mofcom confirmed that European Union officials arrived in Beijing on Saturday for “intensive trade negotiations” regarding EU tariffs on imported Chinese electric vehicles (EVs) that kicked in last week. The two sides had expressed intentions to talk, but it was not confirmed until Thursday.

Beijing could be facing extra pressure in trade following Trump’s election and at a time when it is already seeing tension growing in expanded fronts with some of its other trade partners.

Trump initiated a trade war with China during his first administration, from 2017-21, and the effects rippled through the global supply chain, spurring a shift that saw production lines diversify away from China.

During Trump’s election campaign, he said he would escalate current tariffs to 60 per cent on all Chinese imports, and add a 10 or 20 per cent blanket tariff on all foreign goods entering the US if granted another term.

Beijing has not directly responded to the possibility of increased tariffs from a new US administration but has condemned Washington for making “unilateralist and protectionist” moves with tariffs, and has retaliated with tariffs on some American imports.

The latest message from Mofcom follows President Xi Jinping’s congratulatory message to Trump on Thursday that included a call for “a stable, healthy and sustainable China-US relationship” as the world’s two largest economies have been engaging in wide-ranging competition in trade, security and tech in recent years.

Jayant Menon, a senior fellow at the ISEAS-Yusof Ishak Institute in Singapore, pointed to the high probability that the incoming Trump administration will raise tariffs on China, but said that Trump’s willingness to subsidise domestic industries, like US President Joe Biden has done through the Chips Act, is “less clear”.

“China may be hoping that these programmes will be replaced by new tariffs, which would essentially mean a less protectionist, and therefore [less] harmful, outcome for China, and the world,” Menon said.

China wants free trade with no tariffs or restrictions ... it knows more are coming Chen Zhiwu, University of Hong Kong Yet, more tariffs have been imposed on China and are expected to be on the way from American allies and trade partners.

In recent months, the US, Canada and the EU have imposed tariffs on Chinese EVs, after accusing China of unfair competition because of heavy state subsidies in the industry.

While EU tariffs as high as 45.3 per cent kicked in last week, Beijing and Brussels are still exploring the possibility of how individual Chinese carmakers could adjust the price and volume of their imports for the European market, despite failing to reach solutions in previous rounds of talks in the past two months.

The two sides are engaging in a price-undertaking negotiation with a “pragmatic” and “balanced” approach, Mofcom’s He said on Thursday. There was no information about how long the talks would last.

“China wants free trade with no tariffs or restrictions,” said Chen Zhiwu, chair professor of finance at the University of Hong Kong. “But realistically, it knows more are coming, due to the threats to developed economies from China’s intrinsic economic system, the South China Morning Post report explained further.

“Officials in Beijing should continue to stress the importance of free trade for world prosperity and be a champion for globalisation even when the global political realities make it hard to restore.”

Market participants and investors will closely follow these developments and how relations between the top two leading economies in the world evolve. This will help them in taking informed investment decisions going ahead.

China is looking to “resolve conflicts” in trade with the next US administration while now facing the increased likelihood of more tariffs being put in place, as advocated by US President-elect Donald Trump, according to a detailed report by South China Morning Post.

China is looking to “resolve conflicts” in trade with the next US administration while now facing the increased likelihood of more tariffs being put in place, as advocated by US President-elect Donald Trump, according to a detailed report by South China Morning Post. “China is willing to strengthen communication, expand cooperation and resolve conflicts with the United States by the principles of mutual respect, peaceful coexistence, and win-win cooperation,” Ministry of Commerce (Mofcom) spokeswoman He Yongqian said on Thursday afternoon – a day after the former US president’s return to power became clear following Tuesday’s election, the South China Morning Post report explained further. She added that Beijing looks to “jointly promote the development of China-US economic and trade relations in a stable, healthy and sustainable direction that would benefit both countries and the world”. During the same press conference, Mofcom confirmed that European Union officials arrived in Beijing on Saturday for “intensive trade negotiations” regarding EU tariffs on imported Chinese electric vehicles (EVs) that kicked in last week. The two sides had expressed intentions to talk, but it was not confirmed until Thursday. Beijing could be facing extra pressure in trade following Trump’s election and at a time when it is already seeing tension growing in expanded fronts with some of its other trade partners. Trump initiated a trade war with China during his first administration, from 2017-21, and the effects rippled through the global supply chain, spurring a shift that saw production lines diversify away from China. During Trump’s election campaign, he said he would escalate current tariffs to 60 per cent on all Chinese imports, and add a 10 or 20 per cent blanket tariff on all foreign goods entering the US if granted another term. Beijing has not directly responded to the possibility of increased tariffs from a new US administration but has condemned Washington for making “unilateralist and protectionist” moves with tariffs, and has retaliated with tariffs on some American imports. The latest message from Mofcom follows President Xi Jinping’s congratulatory message to Trump on Thursday that included a call for “a stable, healthy and sustainable China-US relationship” as the world’s two largest economies have been engaging in wide-ranging competition in trade, security and tech in recent years. Jayant Menon, a senior fellow at the ISEAS-Yusof Ishak Institute in Singapore, pointed to the high probability that the incoming Trump administration will raise tariffs on China, but said that Trump’s willingness to subsidise domestic industries, like US President Joe Biden has done through the Chips Act, is “less clear”. “China may be hoping that these programmes will be replaced by new tariffs, which would essentially mean a less protectionist, and therefore [less] harmful, outcome for China, and the world,” Menon said. China wants free trade with no tariffs or restrictions ... it knows more are coming Chen Zhiwu, University of Hong Kong Yet, more tariffs have been imposed on China and are expected to be on the way from American allies and trade partners. In recent months, the US, Canada and the EU have imposed tariffs on Chinese EVs, after accusing China of unfair competition because of heavy state subsidies in the industry. While EU tariffs as high as 45.3 per cent kicked in last week, Beijing and Brussels are still exploring the possibility of how individual Chinese carmakers could adjust the price and volume of their imports for the European market, despite failing to reach solutions in previous rounds of talks in the past two months. The two sides are engaging in a price-undertaking negotiation with a “pragmatic” and “balanced” approach, Mofcom’s He said on Thursday. There was no information about how long the talks would last. “China wants free trade with no tariffs or restrictions,” said Chen Zhiwu, chair professor of finance at the University of Hong Kong. “But realistically, it knows more are coming, due to the threats to developed economies from China’s intrinsic economic system, the South China Morning Post report explained further. “Officials in Beijing should continue to stress the importance of free trade for world prosperity and be a champion for globalisation even when the global political realities make it hard to restore.” Market participants and investors will closely follow these developments and how relations between the top two leading economies in the world evolve. This will help them in taking informed investment decisions going ahead.

Amid US-China trade tensions, Beijing urges reconciliation

Donald Trump’s election victory is seen changing the course of near-term money flows for three of Asia’s largest equity markets as tariff risks loom large over Chinese assets, as detailed in a report by Bloomberg.

Trump has threatened to put 60 per cent tariffs on Chinese goods<o:p></o:p>

Market watchers see the possibility of funds flowing into India and Japan while investors assess Trump’s anti-China stance, with the president-elect earlier having threatened to put tariffs of as much as 60 per cent on Chinese goods. Morgan Stanley just reiterated its preference for the two nations’ shares over China’s, the Bloomberg report explained further.

India, viewed as a manufacturing alternative to China, is appealing to investors for its relative immunity to global risks given a domestic-driven economy. Japanese stocks are seen as indirect beneficiaries of Trump’s reflationary economic policy, which is expected to keep interest rates high, thereby boosting the dollar and weakening the yen to the advantage of the Asian nation’s exporters.

“Supply chains have been moving away from China and that helps not only Japan and India but also other countries, particularly in Southeast Asia,” said veteran emerging-market investor Mark Mobius. “India is the big beneficiary since only India’s workforce can match the Chinese in numbers and labour costs. With Trump maintaining or even extending trade restrictions on China, this will be positive for India.”

That suggests Wednesday’s price action in Asia is likely to have been a sign of things to come. As it became clear that Trump will return to the White House, the MSCI Japan Index and the MSCI India Index rallied at least 1.5 per cent each to cap their best day so far this quarter, while the MSCI China Index slumped over 2 per cent.

The threat of tariffs is seen as complicating Beijing’s efforts to revive the economy and lift market sentiment through a series of stimulus measures that began late September. This makes the nation’s ongoing legislature meeting all the more crucial for investors.

“Should China’s anticipated stimulus announcements be less meaningful than expected, we believe investors could also rotate China exposure into Japanese equities which was seen prior to China’s initial round of stimulus announcements,” Morningstar Inc.’s analysts Lorraine Tan and Kai Wang wrote in a note.

Chinese stocks were already under pressure in the run-up to the US election, with the rally triggered by a monetary policy blitz cooling in the absence of an impressive plan for fiscal spending. The CSI 300 Index surged nearly 35 per cent from a September low through October 8 but has fallen about 5 per cent since.

A short-term challenge<o:p></o:p>

Republican proposals to impose higher tariffs on Chinese goods are likely to weigh on growth in the world’s second-largest economy, Morgan Stanley strategists including Jonathan Garner wrote in a note.

“Bear in mind the tariff headwind could discount the net-net effect of the potential reflation measures” to be announced at China’s National People’s Congress standing committee meeting this week, they said. “We reiterate our core overweight Japan and underweight China view as well as our preference for Australia and India which we also overweight.”

Any further weakness in Chinese stocks is likely to be positive for their biggest emerging-market rival India, given that China’s rebound has been cited as one of the key reasons for a record foreign exodus from the South Asian nation’s shares in October. Some other investors are more optimistic about China’s prospects.

While Societe Generale SA sees a short-term hit to Chinese assets, it’s maintaining an overweight position on expectations that the “policy course correction undertaken since September” will continue as the main equity driver.

And Japan as well as India have problems of their own to deal with. The former is staring at the possibility of excessive currency moves and potential intervention as the yen weakens against the dollar, while the latter is witnessing a slowdown in economic and earnings growth after a strong post-pandemic boom.

“In the very near term, the Trump trade could also be tactically positive for India” in terms of foreign flows, Madhavi Arora, an economist of Emkay Global Financial Services Ltd., wrote in a note. “However, there will be challenges in sustaining that rally” the Bloomberg report concluded.

Market participants and investors all across the globe will follow these developments carefully. As Trump moves towards taking over the reins from Biden, the focus will shift towards his policies and vision for the US economy going ahead.

<o:p>&nbsp;</o:p>

<o:p>&nbsp;</o:p>

Donald Trump’s election victory is seen changing the course of near-term money flows for three of Asia’s largest equity markets as tariff risks loom large over Chinese assets, as detailed in a report by Bloomberg.

Donald Trump’s election victory is seen changing the course of near-term money flows for three of Asia’s largest equity markets as tariff risks loom large over Chinese assets, as detailed in a report by Bloomberg. Trump has threatened to put 60 per cent tariffs on Chinese goods Market watchers see the possibility of funds flowing into India and Japan while investors assess Trump’s anti-China stance, with the president-elect earlier having threatened to put tariffs of as much as 60 per cent on Chinese goods. Morgan Stanley just reiterated its preference for the two nations’ shares over China’s, the Bloomberg report explained further. India, viewed as a manufacturing alternative to China, is appealing to investors for its relative immunity to global risks given a domestic-driven economy. Japanese stocks are seen as indirect beneficiaries of Trump’s reflationary economic policy, which is expected to keep interest rates high, thereby boosting the dollar and weakening the yen to the advantage of the Asian nation’s exporters. “Supply chains have been moving away from China and that helps not only Japan and India but also other countries, particularly in Southeast Asia,” said veteran emerging-market investor Mark Mobius. “India is the big beneficiary since only India’s workforce can match the Chinese in numbers and labour costs. With Trump maintaining or even extending trade restrictions on China, this will be positive for India.” That suggests Wednesday’s price action in Asia is likely to have been a sign of things to come. As it became clear that Trump will return to the White House, the MSCI Japan Index and the MSCI India Index rallied at least 1.5 per cent each to cap their best day so far this quarter, while the MSCI China Index slumped over 2 per cent. The threat of tariffs is seen as complicating Beijing’s efforts to revive the economy and lift market sentiment through a series of stimulus measures that began late September. This makes the nation’s ongoing legislature meeting all the more crucial for investors. “Should China’s anticipated stimulus announcements be less meaningful than expected, we believe investors could also rotate China exposure into Japanese equities which was seen prior to China’s initial round of stimulus announcements,” Morningstar Inc.’s analysts Lorraine Tan and Kai Wang wrote in a note. Chinese stocks were already under pressure in the run-up to the US election, with the rally triggered by a monetary policy blitz cooling in the absence of an impressive plan for fiscal spending. The CSI 300 Index surged nearly 35 per cent from a September low through October 8 but has fallen about 5 per cent since. A short-term challenge Republican proposals to impose higher tariffs on Chinese goods are likely to weigh on growth in the world’s second-largest economy, Morgan Stanley strategists including Jonathan Garner wrote in a note. “Bear in mind the tariff headwind could discount the net-net effect of the potential reflation measures” to be announced at China’s National People’s Congress standing committee meeting this week, they said. “We reiterate our core overweight Japan and underweight China view as well as our preference for Australia and India which we also overweight.” Any further weakness in Chinese stocks is likely to be positive for their biggest emerging-market rival India, given that China’s rebound has been cited as one of the key reasons for a record foreign exodus from the South Asian nation’s shares in October. Some other investors are more optimistic about China’s prospects. While Societe Generale SA sees a short-term hit to Chinese assets, it’s maintaining an overweight position on expectations that the “policy course correction undertaken since September” will continue as the main equity driver. And Japan as well as India have problems of their own to deal with. The former is staring at the possibility of excessive currency moves and potential intervention as the yen weakens against the dollar, while the latter is witnessing a slowdown in economic and earnings growth after a strong post-pandemic boom. “In the very near term, the Trump trade could also be tactically positive for India” in terms of foreign flows, Madhavi Arora, an economist of Emkay Global Financial Services Ltd., wrote in a note. “However, there will be challenges in sustaining that rally” the Bloomberg report concluded. Market participants and investors all across the globe will follow these developments carefully. As Trump moves towards taking over the reins from Biden, the focus will shift towards his policies and vision for the US economy going ahead.

Trump’s China threat shifts investor focus to Indian and Japanese stocks

Around 50 European leaders held a meeting on Thursday (Nov 7) to assess how United States (US) president-elect Donald Trump would affect their fortunes and also sought a common stance on Russia.

Around 50 European leaders held a meeting on Thursday (Nov 7) to assess how United States (US) president-elect Donald Trump would affect their fortunes and also sought a common stance on Russia. A report by the news agency Associated Press early Friday (Nov 8) said that the European Political Community summit in Hungary's capital city of Budapest reassessed trans-Atlantic relations in the hope that Trump’s second US presidency will avoid the strife of his first administration. 'He was elected by Americans, he will defend American interests' During the summit, French President Emmanuel Macron said that Trump was elected by the American people, adding, the Republican leader would defend American interests. “The question is whether we are willing to defend the European interest. It is the only question. It is our priority,” Macron added. Also read | Trump 2.0: NATO braces for shift in European security, US-Ukraine policy; 'it is going to be rough' Time and again, leaders stepped up to say European defence efforts should be increased. Following Thursday's meeting, Hungarian Prime Minister Viktor Orban said, "There was agreement that Europe should take more responsibility for securing peace and safety. To put this more bluntly, we cannot wait for the Americans to protect us." During his first presidency from 2017-2021, Donald Trump pushed European NATO (North Atlantic Treaty Organization) allies to spend more on defence and be less reliant on American military cover. “He was the one in NATO who stimulated us to move over the 2 per cent. And now, also thanks to him, NATO, if you take out the numbers of the US, is above the 2 per cent,” NATO chief Mark Rutte said. European Council president Charles Michel pointed out that Europe needed to become less reliant on the US. What did Trump say about Europe during his campaign? During his election campaign, Trump said a lot of things about Europe- ranging from a trade war with the continent to a withdrawal from NATO commitments and a fundamental shift of support for Ukraine in its war with Russia. The Associated Press reported that these above issues could have groundbreaking consequences for European nations. Also watch | WION Pulse: Who are the top contenders for Trump's second cabinet? × Trump claimed multiple times that he could end the war in Ukraine in a single day if he became US president. Kyiv and many of its European backers fear that this meant peace on terms favourable to Russian President Vladimir Putin and involving the surrender of territory. European allies in NATO hope to convince Trump that if he helps to negotiate any peace, it should be done from a position of strength, for both Ukraine and the US.

European leaders hold meeting to assess how Trump will affect their fortunes

Donald Trump’s election victory is seen changing the course of near-term money flows for three of Asia’s largest equity markets as tariff risks loom large over Chinese assets, as detailed in a report by Bloomberg.

Trump has threatened to put tariffs of as much as 60 per cent on Chinese goods<o:p></o:p>

Market watchers see the possibility of funds flowing into India and Japan while investors assess Trump’s anti-China stance, with the president-elect earlier having threatened to put tariffs of as much as 60 per cent on Chinese goods. Morgan Stanley just reiterated its preference for the two nations’ shares over China’s, the Bloomberg report explained further.

India, viewed as a manufacturing alternative to China, is appealing to investors for its relative immunity to global risks given a domestic-driven economy. Japanese stocks are seen as indirect beneficiaries of Trump’s reflationary economic policy, which is expected to keep interest rates high, thereby boosting the dollar and weakening the yen to the advantage of the Asian nation’s exporters.

“Supply chains have been moving away from China and that helps not only Japan and India but also other countries, particularly in Southeast Asia,” said veteran emerging-market investor Mark Mobius. “India is the big beneficiary since only India’s workforce can match the Chinese in numbers and labor costs. With Trump maintaining or even extending trade restrictions on China, this will be positive for India.”

That suggests Wednesday’s price action in Asia is likely to have been a sign of things to come. As it became clear that Trump will return to the White House, the MSCI Japan Index and the MSCI India Index rallied at least 1.5 per cent each to cap their best day so far this quarter, while the MSCI China Index slumped over 2 per cent.

The threat of tariffs is seen as complicating Beijing’s efforts to revive the economy and lift market sentiment through a series of stimulus measures that began in late September. This makes the nation’s ongoing legislature meeting all the more crucial for investors.

“Should China’s anticipated stimulus announcements be less meaningful than expected, we believe investors could also rotate China exposure into Japanese equities which was seen before China’s initial round of stimulus announcements,” Morningstar Inc.’s analysts Lorraine Tan and Kai Wang wrote in a note.

Chinese stocks were already under pressure in the run-up to the US election, with the rally triggered by a monetary policy blitz cooling in the absence of an impressive plan for fiscal spending. The CSI 300 Index surged nearly 35 per cent from a September low through October 8, but has fallen about 5 per cent since.

A short-term challenge for the Chinese economy<o:p></o:p>

Republican proposals to impose higher tariffs on Chinese goods are likely to weigh on growth in the world’s second-largest economy, Morgan Stanley strategists including Jonathan Garner wrote in a note.

“Bear in mind the tariff headwind could discount the net-net effect of the potential reflation measures” to be announced at China’s National People’s Congress standing committee meeting this week, they said. “We reiterate our core overweight Japan and underweight China view as well as our preference for Australia and India which we also overweight.”

Any further weakness in Chinese stocks is likely to be positive for their biggest emerging-market rival India, given that China’s rebound has been cited as one of the key reasons for a record foreign exodus from the South Asian nation’s shares in October. Some other investors are more optimistic about China’s prospects.

While Societe Generale SA sees a short-term hit to Chinese assets, it’s maintaining an overweight position on expectations that the “policy course correction undertaken since September” will continue as the main equity driver.

And Japan as well as India have problems of their own to deal with. The former is staring at the possibility of excessive currency moves and potential intervention as the yen weakens against the dollar, while the latter is witnessing a slowdown in economic and earnings growth after a strong post-pandemic boom.

“In the very-near term, the Trump trade could also be tactically positive for India” in terms of foreign flows, Madhavi Arora, an economist of Emkay Global Financial Services Ltd., wrote in a note. “However, there will be challenges in sustaining that rally” the Bloomberg report concluded.

Market participants and investors all across the globe will follow these developments carefully. As Trump moves towards taking over the reins from Biden, the focus will shift towards his policies and vision for the US economy going ahead.

<o:p>&nbsp;</o:p>

<o:p>&nbsp;</o:p>

Donald Trump’s election victory is seen changing the course of near-term money flows for three of Asia’s largest equity markets as tariff risks loom large over Chinese assets, as detailed in a report by Bloomberg. Trump has threatened to put tariffs of as much as 60 per cent on Chinese goods Market watchers see the possibility of funds flowing into India and Japan while investors assess Trump’s anti-China stance, with the president-elect earlier having threatened to put tariffs of as much as 60 per cent on Chinese goods. Morgan Stanley just reiterated its preference for the two nations’ shares over China’s, the Bloomberg report explained further. India, viewed as a manufacturing alternative to China, is appealing to investors for its relative immunity to global risks given a domestic-driven economy. Japanese stocks are seen as indirect beneficiaries of Trump’s reflationary economic policy, which is expected to keep interest rates high, thereby boosting the dollar and weakening the yen to the advantage of the Asian nation’s exporters. “Supply chains have been moving away from China and that helps not only Japan and India but also other countries, particularly in Southeast Asia,” said veteran emerging-market investor Mark Mobius. “India is the big beneficiary since only India’s workforce can match the Chinese in numbers and labor costs. With Trump maintaining or even extending trade restrictions on China, this will be positive for India.” That suggests Wednesday’s price action in Asia is likely to have been a sign of things to come. As it became clear that Trump will return to the White House, the MSCI Japan Index and the MSCI India Index rallied at least 1.5 per cent each to cap their best day so far this quarter, while the MSCI China Index slumped over 2 per cent. The threat of tariffs is seen as complicating Beijing’s efforts to revive the economy and lift market sentiment through a series of stimulus measures that began in late September. This makes the nation’s ongoing legislature meeting all the more crucial for investors. “Should China’s anticipated stimulus announcements be less meaningful than expected, we believe investors could also rotate China exposure into Japanese equities which was seen before China’s initial round of stimulus announcements,” Morningstar Inc.’s analysts Lorraine Tan and Kai Wang wrote in a note. Chinese stocks were already under pressure in the run-up to the US election, with the rally triggered by a monetary policy blitz cooling in the absence of an impressive plan for fiscal spending. The CSI 300 Index surged nearly 35 per cent from a September low through October 8, but has fallen about 5 per cent since. A short-term challenge for the Chinese economy Republican proposals to impose higher tariffs on Chinese goods are likely to weigh on growth in the world’s second-largest economy, Morgan Stanley strategists including Jonathan Garner wrote in a note. “Bear in mind the tariff headwind could discount the net-net effect of the potential reflation measures” to be announced at China’s National People’s Congress standing committee meeting this week, they said. “We reiterate our core overweight Japan and underweight China view as well as our preference for Australia and India which we also overweight.” Any further weakness in Chinese stocks is likely to be positive for their biggest emerging-market rival India, given that China’s rebound has been cited as one of the key reasons for a record foreign exodus from the South Asian nation’s shares in October. Some other investors are more optimistic about China’s prospects. While Societe Generale SA sees a short-term hit to Chinese assets, it’s maintaining an overweight position on expectations that the “policy course correction undertaken since September” will continue as the main equity driver. And Japan as well as India have problems of their own to deal with. The former is staring at the possibility of excessive currency moves and potential intervention as the yen weakens against the dollar, while the latter is witnessing a slowdown in economic and earnings growth after a strong post-pandemic boom. “In the very-near term, the Trump trade could also be tactically positive for India” in terms of foreign flows, Madhavi Arora, an economist of Emkay Global Financial Services Ltd., wrote in a note. “However, there will be challenges in sustaining that rally” the Bloomberg report concluded. Market participants and investors all across the globe will follow these developments carefully. As Trump moves towards taking over the reins from Biden, the focus will shift towards his policies and vision for the US economy going ahead.

Trump's China threat shifts investor focus to India, Japan stocks

US President-elect Donald Trump has appointed the first member of his Trump 2.0 cabinet- Susie Wiles as the White House chief of staff. This is a historic first as Wiles will be the first woman in the US to hold the role.&nbsp;

You might have noticed her recently at Trump’s victory speech at Mar-a-Lago in Florida on November 5, where Trump referred to her as the “ice maiden” who “likes to sort of stay in the back.” Wiles was the campaign chief for Trump’s race to the White House in 2024.

In a statement appointing veteran Florida strategist Wiles for the high-profile role, Trump says, “Susie is tough, smart, innovative, and is universally admired and respected.”

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet">
US President <a href="https://twitter.com/hashtag/DonaldTrump?src=hash&amp;ref_src=twsrc%5Etfw">#DonaldTrump</a> chooses <a href="https://twitter.com/hashtag/SusieWiles?src=hash&amp;ref_src=twsrc%5Etfw">#SusieWiles</a> as White House Chief of Staff. 
 
Wiles will be the first woman to hold the position.<a href="https://twitter.com/hashtag/USElectionOnWION?src=hash&amp;ref_src=twsrc%5Etfw">#USElectionOnWION</a> <a href="https://t.co/U2O7A95SAs">pic.twitter.com/U2O7A95SAs</a>
— WION (@WIONews) <a href="https://twitter.com/WIONews/status/1854712839182926178?ref_src=twsrc%5Etfw">November 8, 2024</a></blockquote>
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“Susie will continue to work tirelessly to Make America Great Again. It is a well-deserved honour to have Susie as the first-ever female Chief of Staff in United States history,” he said.

This appointment is also significant for Trump’s image of being a “racist and misogynist.” Appointing Wiles as the first female for such a role stands as an early test of his new administration.&nbsp;

<h2>Who is Susie Wiles, a Republican strategist, now Donald Trump’s new White House chief of staff</h2>

Susie Wiles is the daughter of NFL player and sportscaster Pat Summerall. She worked in the Washington office of New York Rep. Jack Kemp in the 1970s.&nbsp;

Wiles has been a Republican strategist for a long time, mainly in Florida and is widely credited for her disciplined and effective campaign during the US presidential election. She co-managed the Trump’s 2024 campaign with Chris LaCivitia.

Also Read |&nbsp;<a href="https://www.wionews.com/world/putin-calls-trump-a-courageous-real-man-then-adds-a-word-of-caution-i-dont-know-774485">Putin calls Trump a 'courageous, real man'. Then adds a word of caution. 'I don't know...'</a>

She did not always succeed at stopping Trump from going off-script, but she kept damaging media leaks to a relative minimum and launched a bold and successful strategy to win over some Latino and Black voters that led the former president to a decisive win.

During the 1980 Republican campaign, she also worked with Republican Ronald Reagan. Interestingly, for years Wiles worked with some moderate Republicans who had absolutely different policies than those of Trump.

Watch |&nbsp;US Elections 2024 | Trump 2.0: A New Era Of Leadership

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In her later career, Wiles even worked with combative party people like US Senator Rick Scott of Florida, who later became Trump's ally.

She was also a key figure in Ron DeSantis’ successful 2018 Florida governor campaign.&nbsp;

<h2>‘Ice maiden’</h2>

As Trump called her an "ice maiden" during his victory speech, Wiles is considered a less enigmatic for a political strategist.

Also Read |&nbsp;<a href="https://www.wionews.com/world/trump-20-cabinet-to-have-elon-musk-as-secretary-of-cost-cutting-tesla-ceo-says-774480">Trump 2.0 cabinet to have Elon Musk as 'secretary of cost-cutting'? Tesla CEO says…</a>

She rarely gives televised interviews and avoids speaking engagements. Her personality contrasted with that of LaCivita, who was notably outspoken.

But, like many successful campaign managers, she can be ruthless when merited.

(With inputs from agencies)

US President-elect Donald Trump has appointed the first member of his Trump 2.0 cabinet- Susie Wiles as the White House chief of staff. This is a historic first as Wiles will be the first woman in the US to hold the role.

US President-elect Donald Trump has appointed the first member of his Trump 2.0 cabinet- Susie Wiles as the White House chief of staff. This is a historic first as Wiles will be the first woman in the US to hold the role. You might have noticed her recently at Trump’s victory speech at Mar-a-Lago in Florida on November 5, where Trump referred to her as the “ice maiden” who “likes to sort of stay in the back.” Wiles was the campaign chief for Trump’s race to the White House in 2024. In a statement appointing veteran Florida strategist Wiles for the high-profile role, Trump says, “Susie is tough, smart, innovative, and is universally admired and respected.” US President #DonaldTrump chooses #SusieWiles as White House Chief of Staff. Wiles will be the first woman to hold the position.#USElectionOnWION pic.twitter.com/U2O7A95SAs — WION (@WIONews) November 8, 2024 × “Susie will continue to work tirelessly to Make America Great Again. It is a well-deserved honour to have Susie as the first-ever female Chief of Staff in United States history,” he said. This appointment is also significant for Trump’s image of being a “racist and misogynist.” Appointing Wiles as the first female for such a role stands as an early test of his new administration. Who is Susie Wiles, a Republican strategist, now Donald Trump’s new White House chief of staff Susie Wiles is the daughter of NFL player and sportscaster Pat Summerall. She worked in the Washington office of New York Rep. Jack Kemp in the 1970s. Wiles has been a Republican strategist for a long time, mainly in Florida and is widely credited for her disciplined and effective campaign during the US presidential election. She co-managed the Trump’s 2024 campaign with Chris LaCivitia. Also Read | Putin calls Trump a 'courageous, real man'. Then adds a word of caution. 'I don't know...' She did not always succeed at stopping Trump from going off-script, but she kept damaging media leaks to a relative minimum and launched a bold and successful strategy to win over some Latino and Black voters that led the former president to a decisive win. During the 1980 Republican campaign, she also worked with Republican Ronald Reagan. Interestingly, for years Wiles worked with some moderate Republicans who had absolutely different policies than those of Trump. Watch | US Elections 2024 | Trump 2.0: A New Era Of Leadership × In her later career, Wiles even worked with combative party people like US Senator Rick Scott of Florida, who later became Trump's ally. She was also a key figure in Ron DeSantis’ successful 2018 Florida governor campaign. ‘Ice maiden’ As Trump called her an "ice maiden" during his victory speech, Wiles is considered a less enigmatic for a political strategist. Also Read | Trump 2.0 cabinet to have Elon Musk as 'secretary of cost-cutting'? Tesla CEO says… She rarely gives televised interviews and avoids speaking engagements. Her personality contrasted with that of LaCivita, who was notably outspoken. But, like many successful campaign managers, she can be ruthless when merited. (With inputs from agencies)

Trump 2.0 cabinet: Who is Susie Wiles, the 'ice maiden' and first woman White House chief of staff?

Donald Trump is set to become the next President of the United States as he defeated Democrat Kamala Harris in a close contest. WION decodes mood on the ground.

US Elections 2024: Americans React To Election Results

Donald Trump is set to become the next President of the United States as he defeated Democrat Kamala Harris in a close contest. With this win, Trump has become the second US President to win a non-consecutive White House election. WION decodes Trump 2.0's policy push in this report.

US Elections 2024: Donald Trump Eyes Tariffs And Tax Cuts in Second Term Agenda

Florida US Presidential Election 2024: Besides choosing between Republican Donald Trump or Democrat Kamala Harris, Florida voted in several federal and state-level elections on 5 November including the House of Representatives, Senate, state Senate and State Assembly. Here are the results so far:

<h2>Presidential Election result in Florida&nbsp;</h2>

Donald Trump has gained the 30 electoral votes in Florida, having won the popular vote in the southern state.

Trump won 56.1 of the popular vote, or 61,03,182 votes, at the time of writing this.

Harris had 43 per cent of the popular vote, or 46,76,871 votes.

Interestingly, Republican governor Ron DeSantis was the first major challenge to Trump when the former president announced his re-election campaign. DeSantis dropped out in January 2024.

Watch |&nbsp;US elections: Thousands gather at Trump's Florida rally

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Trump was a favourite in the 2020 election in the southern state though he eventually lost the race for White House.&nbsp;

In fact, Florida along with five other states and the District of Columbia (Washington DC) gave Trump more votes than he got in 2016.&nbsp;

<a href="https://www.wionews.com/world/us-elections-2024-a-beginners-guide-to-us-voter-registration-deadlines-771155">Also read: US elections 2024: A beginner's guide to US voter registration deadlines</a>

Trump won all 29 Electoral College votes (one Electoral College seat was added for the 2024 election after a population assessment) in 2020.&nbsp;

&nbsp;

<a href="https://www.wionews.com/world/battleground-states-the-key-to-unlocking-the-2024-presidential-election-768442">Also read: Battleground states: The key to unlocking the 2024 presidential election</a>

In the past few election cycles, Florida has tended to favour Republicans, a departure from its earlier status as a bellwether/ battleground/ swing state.

<h2>Florida US Senate Election 2024:&nbsp;</h2>

One federal Senate seat was on the ballot on November 5, which was won by Republican Rick Scott beating Democrat Debbie Mucarsel-Powell. This gives him a second term.&nbsp;&nbsp;

<h2>Florida US House of Representatives Election results:</h2>

All of Florida's 28 seats in the federal House of Representatives were up for grabs on November 5. At the time of writing this, Republicans won 20 seats, while Democrats got eight.

<h2>Florida State Senate Elections:&nbsp;</h2>

 
Half of Florida's local Senate,&nbsp;which has 20 seats, was elected on November 5.

The Republicans have dominated the Senate since 1995. The final results will be updated once they're in.

<h2>Florida State House elections&nbsp;</h2>

Florida elected all 120 members of the local House.

The results will be updated here when they're final.

In the 2022 election, Republicans improved their majority from 78 to 85, making it a supermajority.

(With inputs from agencies)

Florida US Presidential Election 2024: Besides choosing between Republican Donald Trump or Democrat Kamala Harris, Florida voted in several federal and state-level elections on 5 November including the House of Representatives, Senate, state Senate and State Assembly.

Florida US Presidential Election 2024: Besides choosing between Republican Donald Trump or Democrat Kamala Harris, Florida voted in several federal and state-level elections on 5 November including the House of Representatives, Senate, state Senate and State Assembly. Here are the results so far: Presidential Election result in Florida Donald Trump has gained the 30 electoral votes in Florida, having won the popular vote in the southern state. Trump won 56.1 of the popular vote, or 61,03,182 votes, at the time of writing this. Harris had 43 per cent of the popular vote, or 46,76,871 votes. Interestingly, Republican governor Ron DeSantis was the first major challenge to Trump when the former president announced his re-election campaign. DeSantis dropped out in January 2024. Watch | US elections: Thousands gather at Trump's Florida rally × Trump was a favourite in the 2020 election in the southern state though he eventually lost the race for White House. In fact, Florida along with five other states and the District of Columbia (Washington DC) gave Trump more votes than he got in 2016. Also read: US elections 2024: A beginner's guide to US voter registration deadlines Trump won all 29 Electoral College votes (one Electoral College seat was added for the 2024 election after a population assessment) in 2020. Also read: Battleground states: The key to unlocking the 2024 presidential election In the past few election cycles, Florida has tended to favour Republicans, a departure from its earlier status as a bellwether/ battleground/ swing state. Florida US Senate Election 2024: One federal Senate seat was on the ballot on November 5, which was won by Republican Rick Scott beating Democrat Debbie Mucarsel-Powell. This gives him a second term. Florida US House of Representatives Election results: All of Florida's 28 seats in the federal House of Representatives were up for grabs on November 5. At the time of writing this, Republicans won 20 seats, while Democrats got eight. Florida State Senate Elections: Half of Florida's local Senate, which has 20 seats, was elected on November 5. The Republicans have dominated the Senate since 1995. The final results will be updated once they're in. Florida State House elections Florida elected all 120 members of the local House. The results will be updated here when they're final. In the 2022 election, Republicans improved their majority from 78 to 85, making it a supermajority. (With inputs from agencies)

Florida US Presidential Election 2024 results: Senate, House, local races- What we know

Senate Republicans ousted Democrats in red states to secure the majority, flipping seats in West Virginia, Montana and Ohio, states that have swung heavily to the GOP. Watch this report for more details!

US Elections 2024: Republicans Flip Senate, Win Clear Majority

Indian Prime Minister Narendra Modi called US President-elect Donald Trump on Wednesday and congratulated him on his stunning victory in the US presidential election. Watch this report for more details!

US Elections 2024: 'Looking Forward to Closely Work With Trump', PM Modi Speaks To Donald Trump

Donald Trump won Battleground States - Michigan, Wisconsin, Pennsylvania, Georgia and North Carolina over Kamala Harris to become the 47th President of the United States. Watch this report for more details!

US Elections 2024: Donald Trump Wins 5 Out of 7 Battleground States

A raft of celebrities from Taylor Swift and Beyonce to George Clooney and Harrison Ford proved unable to prevent Kamala Harris's crushing defeat in the US election, underlining the limited impact of sweeping star endorsements on voters.&nbsp;

Instead it was Donald Trump and the Republicans -- who received scant support from the entertainment industry at large, but tapped into a targeted subset of well-known, hypermasculine influencers -- who won comfortably.

So, did the Democrats' long-standing Hollywood and music industry connections, including last-minute rally appearances from Lady Gaga and Jennifer Lopez, make any difference at all in the end?

"Not in this election, clearly," said New York University arts professor Laurence Maslon.

"At the end of the day, people probably realize that Beyonce and George Clooney don't have to worry about the cost of gas or the cost of eggs -- so maybe they're sort of irrelevant," he told AFP.

Celebrity endorsements have long been part of the fabric of US elections, harking back to the days when Frank Sinatra wrangled the "Rat Pack" to support John F. Kennedy in 1960.

Even this year, Hollywood-led fundraisers helped raise tens of millions of dollars for Harris's record-breaking campaign war chest.

But their impact in actually influencing votes has always been a "mixed bag," said Arizona State University associate professor Margaretha Bentley, who teaches a public policy course on Taylor Swift.

"It's never going to be the golden ticket that everybody's looking for," she said.

Mark Harvey, author of "Celebrity Influence: Politics, Persuasion, and Issue-Based Advocacy," agreed that we "shouldn't be terribly surprised" by the lack of celebrity impact.

"There isn't a real strong science behind this idea that celebrities can influence people to vote for candidates," he said.

- 'Macho' -

Famous supporters have only ever been effective when advocating on very specific issues on which they are widely regarded as expert, added Harvey.

As Donald Trump delivered his victory speech early Wednesday, the new president-elect was flanked by -- and showered praise on -- famous names from the world of sport.

UFC boss Dana White was lovingly hailed as "tough" and "a piece of work," while golfer Bryson DeChambeau was celebrated as "fantastic" and even having a "slightly longer" drive than the golf-loving Trump.

Loud cheers -- and a significant portion of Trump's address -- were devoted to his best-known supporter of all, tech billionaire Elon Musk.

Trump also received a last-minute endorsement from Joe Rogan, the influential host of one of the world's top podcasts.

The Republican may have benefited from these associations because, in an election "largely driven by cultural issues, one of the most potent cultural issues was masculinity," said Harvey.&nbsp;

"This sort of 'be a real man,' the Trump 'macho' sort of thing... it's the kind of thing that Joe Rogan plays all the time."

- 'Shocked' -

For the Democrats, this latest scarring experience will require a "deep self-analysis... of what they did and didn't do, and what might have been successful," including with celebrity endorsements, said Bentley.&nbsp;

Ashley Spillane, author of the report "Celebrities Strengthening Our Culture of Democracy," agreed there was "debate" about the "value and impact of celebrity endorsements of candidates."

But there is still "robust evidence that celebrities do have a real impact in promoting overall, nonpartisan civic engagement," she wrote via email, pointing to Swift's endorsement of Harris, which was credited with driving 400,000 people to a voter registration site.

Even if their endorsements failed, Hollywood celebrities showed no indication Wednesday that they would remain silent.

Waking up to the news of Trump's victory, several well-known figures took to social media to vent their frustrations.

Oscar winner Jamie Lee Curtis said Trump's win would usher in "a sure return to a more restrictive, some fear draconian time."

"Fascist with total power... That may have been the last free election," wrote actor John Cusack. "Horror is coming."

Pop singer Cardi B, who appeared at a Harris rally last Friday, simply wrote: "I hate yall bad."&nbsp;

A raft of celebrities from Taylor Swift and Beyonce to George Clooney and Harrison Ford proved unable to prevent Kamala Harris's crushing defeat in the US election, underlining the limited impact of sweeping star endorsements on voters.

A raft of celebrities from Taylor Swift and Beyonce to George Clooney and Harrison Ford proved unable to prevent Kamala Harris's crushing defeat in the US election, underlining the limited impact of sweeping star endorsements on voters. Instead it was Donald Trump and the Republicans -- who received scant support from the entertainment industry at large, but tapped into a targeted subset of well-known, hypermasculine influencers -- who won comfortably. So, did the Democrats' long-standing Hollywood and music industry connections, including last-minute rally appearances from Lady Gaga and Jennifer Lopez, make any difference at all in the end? "Not in this election, clearly," said New York University arts professor Laurence Maslon. "At the end of the day, people probably realize that Beyonce and George Clooney don't have to worry about the cost of gas or the cost of eggs -- so maybe they're sort of irrelevant," he told AFP. Celebrity endorsements have long been part of the fabric of US elections, harking back to the days when Frank Sinatra wrangled the "Rat Pack" to support John F. Kennedy in 1960. Even this year, Hollywood-led fundraisers helped raise tens of millions of dollars for Harris's record-breaking campaign war chest. But their impact in actually influencing votes has always been a "mixed bag," said Arizona State University associate professor Margaretha Bentley, who teaches a public policy course on Taylor Swift. "It's never going to be the golden ticket that everybody's looking for," she said. Mark Harvey, author of "Celebrity Influence: Politics, Persuasion, and Issue-Based Advocacy," agreed that we "shouldn't be terribly surprised" by the lack of celebrity impact. "There isn't a real strong science behind this idea that celebrities can influence people to vote for candidates," he said. - 'Macho' - Famous supporters have only ever been effective when advocating on very specific issues on which they are widely regarded as expert, added Harvey. As Donald Trump delivered his victory speech early Wednesday, the new president-elect was flanked by -- and showered praise on -- famous names from the world of sport. UFC boss Dana White was lovingly hailed as "tough" and "a piece of work," while golfer Bryson DeChambeau was celebrated as "fantastic" and even having a "slightly longer" drive than the golf-loving Trump. Loud cheers -- and a significant portion of Trump's address -- were devoted to his best-known supporter of all, tech billionaire Elon Musk. Trump also received a last-minute endorsement from Joe Rogan, the influential host of one of the world's top podcasts. The Republican may have benefited from these associations because, in an election "largely driven by cultural issues, one of the most potent cultural issues was masculinity," said Harvey. "This sort of 'be a real man,' the Trump 'macho' sort of thing... it's the kind of thing that Joe Rogan plays all the time." - 'Shocked' - For the Democrats, this latest scarring experience will require a "deep self-analysis... of what they did and didn't do, and what might have been successful," including with celebrity endorsements, said Bentley. Ashley Spillane, author of the report "Celebrities Strengthening Our Culture of Democracy," agreed there was "debate" about the "value and impact of celebrity endorsements of candidates." But there is still "robust evidence that celebrities do have a real impact in promoting overall, nonpartisan civic engagement," she wrote via email, pointing to Swift's endorsement of Harris, which was credited with driving 400,000 people to a voter registration site. Even if their endorsements failed, Hollywood celebrities showed no indication Wednesday that they would remain silent. Waking up to the news of Trump's victory, several well-known figures took to social media to vent their frustrations. Oscar winner Jamie Lee Curtis said Trump's win would usher in "a sure return to a more restrictive, some fear draconian time." "Fascist with total power... That may have been the last free election," wrote actor John Cusack. "Horror is coming." Pop singer Cardi B, who appeared at a Harris rally last Friday, simply wrote: "I hate yall bad."

A-listers fail to win Harris votes as Trump lauds famous 'bros'

In his election victory speech, Donald Trump reflected on his personal journey, stating that "God spared my life for a reason." He expressed gratitude and resolve as he outlined his vision for the future, emphasizing his determination to serve the American people. Watch in for more details!

US Elections 2024: Donald Trump Addresses Florida Supporters After Key Battleground Wins

The dollar soared on Wednesday and was set for its biggest one-day rise since March 2020 after Republican Donald Trump won the US presidential election, while the euro, Chinese yuan, and Mexican peso were among the biggest losers on potential new tariffs in the regions.

Trump beat Democrat Vice President Kamala Harris to retake the White House while Republicans also won a US Senate majority. Control of the House of Representatives remains in question, with Republicans currently holding a narrow majority.

A full sweep by Republicans would allow the party to make larger policy changes and in turn would likely provoke larger currency moves.

Trump’s policies on restricting illegal immigration, enacting new tariffs, lower taxes and deregulation may boost growth and inflation and could crimp the Federal Reserve’s ability to cut rates.

<a href="https://www.wionews.com/world/what-trumps-victory-means-for-two-and-a-half-years-of-russia-ukraine-war-774105">Also read:&nbsp;What Trump’s victory means for two and a half years of Russia-Ukraine war</a>

"This can push inflation higher and force the Fed to a slower easing path, which is dollar-positive," said Nikos Tzabouras, senior market specialist at trading platform Tradu.

The eurozone, Mexico, China and Canada are viewed as being at risk of potential new tariffs, which may hurt economic growth in the regions and widen their interest rate differentials with the United States.

Nick Wood, Head of Execution at MillTechFX and Millennium Global notes that currency moves on Wednesday have been orderly, with currency pairs in general seeing volumes around 25 per cent to 30 per cent above usual.

That may have been helped by investors holding relatively light positions heading into the election.

Watch |&nbsp;US Elections 2024: Trump's Actions Will Shape Future Relations, Says Kremlin

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“It seems like elements of the market were actually kind of running quite light in terms of risk, so therefore they can be a little bit more patient in terms of entering positions as opposed to feeling like you're the wrong side of something and having to exit a position at a speed,” he said.

A complicating factor for the dollar outlook longer term, meanwhile, could be that Trump has stated a preference for a weak US currency.

“Both this year, but also during his previous stay at the White House, he had essentially challenged the longstanding strong dollar mantra, because he prefers a weaker currency to help with exports and American economic activity," said Tzabouras.

"And he had also called for lower interest rates, so this could actually pose headwinds for the dollar in the long run as these policies begin to take shape.”

The dollar index was last up 1.72 percent at 105.17 and reached 105.44, the highest since July 3. The euro dropped 1.91 per cent to $1.0720 and got as low as $1.0683, the lowest since June 27.

The greenback rose 1.60 per cent to 154.02 Japanese yen and reached 154.48, the highest since July 30.

The Japanese yen could now approach levels that prompted officials to intervene and shore up the currency earlier this year.

Japan's chief cabinet secretary Yoshimasa Hayashi said on Wednesday that the government intended to closely watch moves on the foreign exchange market, including speculative moves, with a higher sense of urgency.

Trump has also expressed favorable views on cryptocurrencies, which helped to lift bitcoin to a record high of $75,389. It was last up 7.3% at $74,181.

The Fed is expected to cut rates by 25 basis points at the conclusion of its two-day meeting on Thursday and investors will also watch for any new clues on whether the U.S. central bank could pause cuts in December.

A much stronger than expected jobs report for September led investors to pare back expectations on how many times the Fed is likely to cut rates. A much weaker than anticipated report for October has raised some doubts over this view though this data was clouded by the impact of recent hurricanes and labor strikes.

Traders are now pricing 65 per cent odds the Fed will also cut in December, down from 77% on Tuesday, according to the CME Group’s Fed Watch Tool.

The Bank of England is expected to cut rates by 25 basis points on Thursday, while the Riksbank is seen easing by 50 basis points and the Norges Bank is expected to stay on hold.

Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION&nbsp;audience.

The dollar soared on Wednesday and was set for its biggest one-day rise since March 2020 after Republican Donald Trump won the US presidential election, while the euro, Chinese yuan, and Mexican peso were among the biggest losers on potential new tariffs in the regions.

The dollar soared on Wednesday and was set for its biggest one-day rise since March 2020 after Republican Donald Trump won the US presidential election, while the euro, Chinese yuan, and Mexican peso were among the biggest losers on potential new tariffs in the regions. Trump beat Democrat Vice President Kamala Harris to retake the White House while Republicans also won a US Senate majority. Control of the House of Representatives remains in question, with Republicans currently holding a narrow majority. A full sweep by Republicans would allow the party to make larger policy changes and in turn would likely provoke larger currency moves. Trump’s policies on restricting illegal immigration, enacting new tariffs, lower taxes and deregulation may boost growth and inflation and could crimp the Federal Reserve’s ability to cut rates. Also read: What Trump’s victory means for two and a half years of Russia-Ukraine war "This can push inflation higher and force the Fed to a slower easing path, which is dollar-positive," said Nikos Tzabouras, senior market specialist at trading platform Tradu. The eurozone, Mexico, China and Canada are viewed as being at risk of potential new tariffs, which may hurt economic growth in the regions and widen their interest rate differentials with the United States. Nick Wood, Head of Execution at MillTechFX and Millennium Global notes that currency moves on Wednesday have been orderly, with currency pairs in general seeing volumes around 25 per cent to 30 per cent above usual. That may have been helped by investors holding relatively light positions heading into the election. Watch | US Elections 2024: Trump's Actions Will Shape Future Relations, Says Kremlin × “It seems like elements of the market were actually kind of running quite light in terms of risk, so therefore they can be a little bit more patient in terms of entering positions as opposed to feeling like you're the wrong side of something and having to exit a position at a speed,” he said. A complicating factor for the dollar outlook longer term, meanwhile, could be that Trump has stated a preference for a weak US currency. “Both this year, but also during his previous stay at the White House, he had essentially challenged the longstanding strong dollar mantra, because he prefers a weaker currency to help with exports and American economic activity," said Tzabouras. "And he had also called for lower interest rates, so this could actually pose headwinds for the dollar in the long run as these policies begin to take shape.” The dollar index was last up 1.72 percent at 105.17 and reached 105.44, the highest since July 3. The euro dropped 1.91 per cent to $1.0720 and got as low as $1.0683, the lowest since June 27. The greenback rose 1.60 per cent to 154.02 Japanese yen and reached 154.48, the highest since July 30. The Japanese yen could now approach levels that prompted officials to intervene and shore up the currency earlier this year. Japan's chief cabinet secretary Yoshimasa Hayashi said on Wednesday that the government intended to closely watch moves on the foreign exchange market, including speculative moves, with a higher sense of urgency. Trump has also expressed favorable views on cryptocurrencies, which helped to lift bitcoin to a record high of $75,389. It was last up 7.3% at $74,181. The Fed is expected to cut rates by 25 basis points at the conclusion of its two-day meeting on Thursday and investors will also watch for any new clues on whether the U.S. central bank could pause cuts in December. A much stronger than expected jobs report for September led investors to pare back expectations on how many times the Fed is likely to cut rates. A much weaker than anticipated report for October has raised some doubts over this view though this data was clouded by the impact of recent hurricanes and labor strikes. Traders are now pricing 65 per cent odds the Fed will also cut in December, down from 77% on Tuesday, according to the CME Group’s Fed Watch Tool. The Bank of England is expected to cut rates by 25 basis points on Thursday, while the Riksbank is seen easing by 50 basis points and the Norges Bank is expected to stay on hold. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

Dollar soars, euro falls after Donald Trump's victory in US presidential election

US Vice President Kamala Harris, who lost to Donald Trump in the 2024 presidential race, is set to give her concession speech on Wednesday.

As reported by sources to Reuters, Harris is scheduled to address the nation around 4:00 PM&nbsp;EST (21:00 GMT). Additionally, she is expected to phone Trump to formally concede, according to two of her aides who spoke with NBC News. A White House official told the same network that President Joe Biden also plans to call Trump and make a public statement regarding the election outcome.

Also read:&nbsp;<a href="https://www.wionews.com/world/from-freeing-jan-6-rioters-to-mass-deportations-heres-what-donald-trump-promised-to-do-on-day-1-after-win-774056">Here's what Donald Trump promised to do on day 1 after win</a>

Vice President Harris is due to deliver her speech from Howard University in Washington, D.C., her alma mater, around 4:00 PM EST (9:00 PM GMT), her campaign has confirmed. The event will be attended by her husband, Second Gentleman Douglass Emhoff.

Before her address, Harris will participate in internal staff meetings and briefings, which will be closed to the media.

Harris had initially planned to speak at an election night gathering at Howard University on Tuesday evening but cancelled the public briefing. However, as results continued to come in, it became apparent early Wednesday morning that Trump had secured the votes needed for a second term.

Also read:&nbsp;<a href="https://www.wionews.com/world/going-to-bed-with-nightmare-democratic-strategist-van-jones-on-harris-supporters-as-trump-wins-us-election-774010">'Going to bed with nightmare,' Jones on Harris supporters as Trump wins</a>

Pre-election polls had shown a close race between Harris and Trump. Nevertheless, Trump ultimately achieved a decisive victory, securing win in key battleground states such as North Carolina, Georgia, Pennsylvania, and Wisconsin.

To win a second term, Trump required 270 Electoral College votes, which he crossed after winning Wisconsin.

Harris became the Democratic nominee after President Joe Biden exited the race in July, following a weak showing against Trump in a presidential debate held on June 27.

(With inputs form agencies)

US Vice President Kamala Harris, who lost to Donald Trump in the 2024 presidential race, is set to give her concession speech on Wednesday. As reported by sources to Reuters, Harris is scheduled to address the nation around 4:00 PM EST (21:00 GMT).

US Vice President Kamala Harris, who lost to Donald Trump in the 2024 presidential race, is set to give her concession speech on Wednesday. As reported by sources to Reuters, Harris is scheduled to address the nation around 4:00 PM EST (21:00 GMT). Additionally, she is expected to phone Trump to formally concede, according to two of her aides who spoke with NBC News. A White House official told the same network that President Joe Biden also plans to call Trump and make a public statement regarding the election outcome. Also read: Here's what Donald Trump promised to do on day 1 after win Vice President Harris is due to deliver her speech from Howard University in Washington, D.C., her alma mater, around 4:00 PM EST (9:00 PM GMT), her campaign has confirmed. The event will be attended by her husband, Second Gentleman Douglass Emhoff. Before her address, Harris will participate in internal staff meetings and briefings, which will be closed to the media. Harris had initially planned to speak at an election night gathering at Howard University on Tuesday evening but cancelled the public briefing. However, as results continued to come in, it became apparent early Wednesday morning that Trump had secured the votes needed for a second term. Also read: 'Going to bed with nightmare,' Jones on Harris supporters as Trump wins Pre-election polls had shown a close race between Harris and Trump. Nevertheless, Trump ultimately achieved a decisive victory, securing win in key battleground states such as North Carolina, Georgia, Pennsylvania, and Wisconsin. To win a second term, Trump required 270 Electoral College votes, which he crossed after winning Wisconsin. Harris became the Democratic nominee after President Joe Biden exited the race in July, following a weak showing against Trump in a presidential debate held on June 27. (With inputs form agencies)

US election: Kamala Harris to deliver concession speech after Trump’s decisive win

Indian Prime Minister Narendra Modi on Wednesday (Nov. 6) called US presidential election winner Donald Trump, congratulated him on his electoral victory&nbsp;and said that he looks forward to once again strengthening India-US relations across several sectors.&nbsp;

“Had a great conversation with my friend, President&nbsp;@realDonaldTrump, congratulating him on his spectacular victory. Looking forward to working closely together once again to further strengthen India-US relations across technology, defence, energy, space and several other sectors,” PM Modi said in a post shared on X.&nbsp;

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Had a great conversation with my friend, President <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a>, congratulating him on his spectacular victory. Looking forward to working closely together once again to further strengthen India-US relations across technology, defence, energy, space and several other sectors.
— Narendra Modi (@narendramodi) <a href="https://twitter.com/narendramodi/status/1854206814545740140?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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The call between PM Modi and Trump came&nbsp;less than 12 hours since the latter was declared the next US President.&nbsp;

Trump said that the whole world loves PM Modi. He told PM Modi that he considers him and India a true friend, adding that PM Modi is one of the first world leaders he spoke to after his victory.&nbsp;

<a href="https://www.wionews.com/world/indian-pm-modi-joins-world-leaders-to-congratulate-trump-on-his-win-in-us-election-773939">Also read:&nbsp;Indian PM Modi joins world leaders to congratulate Trump on his win in US election</a>

He further said that the whole world loves PM Modi and that India is a magnificent country and PM Modi is a magnificent man.&nbsp;

<h2>Netanyahu calls Trump</h2>

Israeli Prime Minister Benjamin Netanyahu dialed Donald Trump after his electoral win. PM Netanyahu congratulated him and also discussed the Iranian threat with US presidential election winner Trump.&nbsp;

“Prime Minister Benjamin Netanyahu, this evening, spoke with US President-elect Donald Trump and was among the first to call him. Their conversation was warm and cordial. The Prime Minister congratulated President-elect Trump on his election victory. The two agreed to work together for Israel's security, and also discussed the Iranian threat,” Netanyahu’s office shared the statement on X.&nbsp;

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Prime Minister Benjamin Netanyahu, this evening, spoke with US President-elect Donald Trump and was among the first to call him.
— Prime Minister of Israel (@IsraeliPM) <a href="https://twitter.com/IsraeliPM/status/1854211089468444831?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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Republican Donald Trump won the US Presidential elections by bagging 277 votes, defeating Kamala Harris. As it became crystal clear that Trump would be the next head of state, several world leaders congratulated the Republican leader on their social media handles.&nbsp;&nbsp;

Watch |&nbsp;US Election Result 2024: Indian PM Modi Congratulates Donald Trump

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In a post on X, Indian Prime Minister Narendra Modi congratulated Donald Trump. "As you build on the successes of your previous term, I look forward to renewing our collaboration to further strengthen the India-US Comprehensive Global and Strategic Partnership," Prime Minister Modi said.

British Prime Minister Keir Starmer and French President Emmanuel Macron were among the other leaders who congratulated Trump.&nbsp;

Australian Prime Minister Antony Albanese also took to X, saying, "Congratulations to President Donald Trump on his election victory. Australians and Americans are great friends and true allies. Working together, we can ensure the partnership between our nations and peoples remains strong into the future.”&nbsp;

(With inputs from agencies)

Indian Prime Minister Narendra Modi on Wednesday (Nov. 6) called US presidential election winner Donald Trump, congratulated him on his electoral victory and said that he looks forward to once again strengthening India-US relations across several sectors.

Indian Prime Minister Narendra Modi on Wednesday (Nov. 6) called US presidential election winner Donald Trump, congratulated him on his electoral victory and said that he looks forward to once again strengthening India-US relations across several sectors. “Had a great conversation with my friend, President @realDonaldTrump, congratulating him on his spectacular victory. Looking forward to working closely together once again to further strengthen India-US relations across technology, defence, energy, space and several other sectors,” PM Modi said in a post shared on X. Had a great conversation with my friend, President @realDonaldTrump, congratulating him on his spectacular victory. Looking forward to working closely together once again to further strengthen India-US relations across technology, defence, energy, space and several other sectors. — Narendra Modi (@narendramodi) November 6, 2024 × The call between PM Modi and Trump came less than 12 hours since the latter was declared the next US President. Trump said that the whole world loves PM Modi. He told PM Modi that he considers him and India a true friend, adding that PM Modi is one of the first world leaders he spoke to after his victory. Also read: Indian PM Modi joins world leaders to congratulate Trump on his win in US election He further said that the whole world loves PM Modi and that India is a magnificent country and PM Modi is a magnificent man. Netanyahu calls Trump Israeli Prime Minister Benjamin Netanyahu dialed Donald Trump after his electoral win. PM Netanyahu congratulated him and also discussed the Iranian threat with US presidential election winner Trump. “Prime Minister Benjamin Netanyahu, this evening, spoke with US President-elect Donald Trump and was among the first to call him. Their conversation was warm and cordial. The Prime Minister congratulated President-elect Trump on his election victory. The two agreed to work together for Israel's security, and also discussed the Iranian threat,” Netanyahu’s office shared the statement on X. Prime Minister Benjamin Netanyahu, this evening, spoke with US President-elect Donald Trump and was among the first to call him. — Prime Minister of Israel (@IsraeliPM) November 6, 2024 × Republican Donald Trump won the US Presidential elections by bagging 277 votes, defeating Kamala Harris. As it became crystal clear that Trump would be the next head of state, several world leaders congratulated the Republican leader on their social media handles. Watch | US Election Result 2024: Indian PM Modi Congratulates Donald Trump × In a post on X, Indian Prime Minister Narendra Modi congratulated Donald Trump. "As you build on the successes of your previous term, I look forward to renewing our collaboration to further strengthen the India-US Comprehensive Global and Strategic Partnership," Prime Minister Modi said. British Prime Minister Keir Starmer and French President Emmanuel Macron were among the other leaders who congratulated Trump. Australian Prime Minister Antony Albanese also took to X, saying, "Congratulations to President Donald Trump on his election victory. Australians and Americans are great friends and true allies. Working together, we can ensure the partnership between our nations and peoples remains strong into the future.” (With inputs from agencies)

PM Modi dials Donald Trump to congratulate, US Presidential winner calls him a ‘magnificent man’

After months of campaigning featuring countless rallies and speeches, the picture is now clear that Donald Trump will return to the White House as the 47th President of the United States. WION tracks the moments leading to the return of Donald Trump.

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US President Joe Biden delivered a public speech from the Rose Garden Thursday in his first on-camera appearance since Donald Trump's election victory. Watch in.

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Six years ago, David Lammy called Donald Trump a “woman-hating, neo-Nazi-sympathising sociopath”. On Wednesday, David Lammy, now UK foreign secretary, offered Trump “congratulations” and said the British government “look forward to working with you”.

David Lammy's 'Neo-Nazi' Jibe at Donald Trump Returns to Haunt Him

Bangladesh's Muhammad Yunus, once a critic of U.S. President-elect Donald Trump, is now making a surprising shift after the latter's election victory. Yunus has been quick to extend an olive branch, hoping to secure his favour as the next President of the U.S. But will this sudden display of loyalty protect him?

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During his election victory speech, Donald Trump did not mention Jewish voters, a demographic who he said before the election would be blamed if he did not win. Despite efforts to secure their support in the election, the exit polls showed that a vast majority of Jews chose his rival and Vice President Kamala Harris.

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As Donald Trump prepares to return to the White House, China is bracing for another round of unpredictable challenges in its relationship with the US under Trump's first term, the two countries clashed over trade, technology, and Taiwan, and now, with his second term on the horizon, similar issues are expected to resurface with even greater intensity, as detailed in a report by Associated Press.

A looming tariff war<o:p></o:p>

One of Trump’s key promises during his campaign is to impose sweeping tariffs on Chinese goods. His proposal to slap a blanket 60 per cent tariff on all Chinese exports could have devastating effects on China’s fragile economy, the Associated Press report detailed further.

Already grappling with high youth unemployment, a property market slump, and escalating government debt, China would face a sharp decline in economic growth. According to UBS, such tariffs could cut China’s projected economic growth by up to 2.5 percentage points.

During Trump’s first term, the US imposed tariffs on more than $360 billion worth of Chinese products, which led to a trade deal in 2020. However, China’s failure to fulfil its promises under that deal, such as buying additional American goods, has left many sceptics questioning whether another round of tariffs will have any lasting impact. With China’s economy in a weaker position now, analysts believe it may be more inclined to negotiate to avoid further damage.

A central aspect of Trump’s trade strategy could involve leveraging China’s influence on global issues. In his first term, he sought Xi Jinping’s help with North Korea, and now, Trump has suggested that he could press China to help resolve the Ukraine conflict. China’s position as a major trading partner of both Russia and Ukraine gives it a unique role in global diplomacy. However, it remains unclear whether Trump would prioritize trade grievances over fostering cooperation on global issues, a dilemma that could shape his second-term approach.

Taiwan remains a key flashpoint<o:p></o:p>

Trump’s rhetoric on Taiwan has also raised concerns in Beijing. China views Taiwan as part of its territory, and any US support for Taiwanese independence is seen as a major provocation. Trump’s controversial 2016 phone call with Taiwan’s then-president, Tsai Ing-wen, set the stage for tensions. Although Trump has indicated a commitment to maintaining the status quo in Taiwan, he has also stated that China would not dare to blockade the island if he were in office, citing his personal rapport with Xi Jinping. 

More troubling for China is Trump’s threat to impose even higher tariffs, ranging from 150 per cent to 200 per cent, if China were to invade Taiwan. While this stance may be aimed at deterring Beijing from military action, it risks escalating tensions further.

Disputes over semiconductor dominance<o:p></o:p>

The ongoing trade war between the US and China also centres on technology, particularly semiconductors. Trump’s administration started targeting Chinese tech giants like Huawei over national security concerns, a trend that has continued under President Biden.

However, Trump has criticized the Biden administration’s CHIPS Act, which incentivizes domestic semiconductor production in the US. Further, one of the issues at the heart of this conflict is Taiwan’s dominance in chip manufacturing, with the island’s TSMC accounting for nearly 90 per cent of the world’s advanced chips.

While the US has tried to increase its domestic chip production, Trump has accused Taiwan of taking advantage of US investments in the sector, potentially creating a new point of friction between Washington and Taipei.

Hence, as Trump re-enters the political stage, the US-China relationship is set to be filled with challenges. The renewed trade conflict, coupled with heightened tensions over Taiwan and technological dominance, signals a turbulent period ahead. While Trump’s policies may cause short-term economic disruptions, his unpredictable approach could reshape the global landscape and reframe the dynamics of US-China relations.

As Donald Trump prepares to return to the White House, China is bracing for another round of unpredictable challenges in its relationship with the US under Trump's first term, the two countries clashed over trade, technology, and Taiwan, and now, with his second term on the horizon, similar issues are expected to resurface with even greater intensity, as detailed in a report by Associated Press.

As Donald Trump prepares to return to the White House, China is bracing for another round of unpredictable challenges in its relationship with the US under Trump's first term, the two countries clashed over trade, technology, and Taiwan, and now, with his second term on the horizon, similar issues are expected to resurface with even greater intensity, as detailed in a report by Associated Press. A looming tariff war One of Trump’s key promises during his campaign is to impose sweeping tariffs on Chinese goods. His proposal to slap a blanket 60 per cent tariff on all Chinese exports could have devastating effects on China’s fragile economy, the Associated Press report detailed further. Already grappling with high youth unemployment, a property market slump, and escalating government debt, China would face a sharp decline in economic growth. According to UBS, such tariffs could cut China’s projected economic growth by up to 2.5 percentage points. During Trump’s first term, the US imposed tariffs on more than $360 billion worth of Chinese products, which led to a trade deal in 2020. However, China’s failure to fulfil its promises under that deal, such as buying additional American goods, has left many sceptics questioning whether another round of tariffs will have any lasting impact. With China’s economy in a weaker position now, analysts believe it may be more inclined to negotiate to avoid further damage. A central aspect of Trump’s trade strategy could involve leveraging China’s influence on global issues. In his first term, he sought Xi Jinping’s help with North Korea, and now, Trump has suggested that he could press China to help resolve the Ukraine conflict. China’s position as a major trading partner of both Russia and Ukraine gives it a unique role in global diplomacy. However, it remains unclear whether Trump would prioritize trade grievances over fostering cooperation on global issues, a dilemma that could shape his second-term approach. Taiwan remains a key flashpoint Trump’s rhetoric on Taiwan has also raised concerns in Beijing. China views Taiwan as part of its territory, and any US support for Taiwanese independence is seen as a major provocation. Trump’s controversial 2016 phone call with Taiwan’s then-president, Tsai Ing-wen, set the stage for tensions. Although Trump has indicated a commitment to maintaining the status quo in Taiwan, he has also stated that China would not dare to blockade the island if he were in office, citing his personal rapport with Xi Jinping. More troubling for China is Trump’s threat to impose even higher tariffs, ranging from 150 per cent to 200 per cent, if China were to invade Taiwan. While this stance may be aimed at deterring Beijing from military action, it risks escalating tensions further. Disputes over semiconductor dominance The ongoing trade war between the US and China also centres on technology, particularly semiconductors. Trump’s administration started targeting Chinese tech giants like Huawei over national security concerns, a trend that has continued under President Biden. However, Trump has criticized the Biden administration’s CHIPS Act, which incentivizes domestic semiconductor production in the US. Further, one of the issues at the heart of this conflict is Taiwan’s dominance in chip manufacturing, with the island’s TSMC accounting for nearly 90 per cent of the world’s advanced chips. While the US has tried to increase its domestic chip production, Trump has accused Taiwan of taking advantage of US investments in the sector, potentially creating a new point of friction between Washington and Taipei. Hence, as Trump re-enters the political stage, the US-China relationship is set to be filled with challenges. The renewed trade conflict, coupled with heightened tensions over Taiwan and technological dominance, signals a turbulent period ahead. While Trump’s policies may cause short-term economic disruptions, his unpredictable approach could reshape the global landscape and reframe the dynamics of US-China relations.

China braces for renewed tensions with Trump over trade, technology, and Taiwan

United States President Joe Biden in his first public address from the White House after Republican&nbsp;Donald&nbsp;Trump's presidential&nbsp;election win on Thursday (Nov 7) said that he has instructed the officials in his administration&nbsp;to ensure there are no hiccups in the transfer of power.

“Yesterday, I spoke with President-elect Trump to congratulate him on his victory, and I assured him that I direct my entire administration to work with his team to ensure a peaceful and orderly transition. That’s what the American people deserve,” Biden said.

"You cannot love your country only when you win," he added.

“Something to hope we can do, no matter who you voted for, is see each other not as adversaries, but as fellow Americans. Bring down the temperature.&nbsp;

“I also hope we can lay to rest the question about the integrity of the American electoral system. It is honest, it is fair, and it is transparent, and it can be trusted, win or lose,” said the US president.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/world/trump-putin-phone-call-expected-before-january-inauguration-kremlin-says-its-not-ruled-out-774415">Trump-Putin phone call expected before January inauguration</a>

Biden also expressed gratitude to all the election workers and said, “I also hope we can restore the respect for all our election workers who busted their necks and took risks.”

“At the outset, we should thank them. Thank them for staffing voting sites, counting the votes, protecting the very integrity of the election. Many of them are volunteers who do it simply out of love for their country. And, as they did, as they did their duty as citizens, I will do my duty as president. I will fulfill my oath, and I will honor the constitution. On January 20, we’ll have a peaceful transfer of power here in America,” he added.

“I know it’s a difficult time. You’re hurting. I hear you and I see you, but don’t forget, don’t forget all that we accomplished. It’s been a historic presidency, not because I’m president, because what we’ve done, what you’ve done,” Biden said addressing fellow Democrats who are down after the defeat.

Also read:&nbsp;<a href="https://www.wionews.com/world/inflation-immigration-or-abortion-rights-what-went-wrong-for-kamala-harris-774293">Inflation, Immigration or Abortion Rights: What went wrong for Kamala Harris?</a>

"Much of the work we’ve done is already being felt by the American people, but the vast majority of it will not be felt … over the next 10 years … We have legislation we passed that’s just only now, just really kicking in. We’re going to see over a trillion dollars worth of infrastructure work done, changing people’s lives in rural communities and communities that are in real difficulty," he added.

Concluding his address, Biden said, “Together, we’ve changed America for the better. Now, we have 74 days to finish the term, our term. Let’s make every day count. That’s the responsibility we have to the American people”.&nbsp;

He wrapped up his speech by relaying a message of hope and urged people to never give up: “Setbacks are unavoidable, but giving up is unforgivable. We all get knocked down, but the measure of our character, as my dad would say, is how quickly we get back up. Remember, a defeat does not mean we are defeated. We lost this battle. The America of your dreams is calling for you to get back up. That’s the story of America for over 240 years and counting. It’s a story for all of us, not just some of us. The American experiment endures. We’re going to be okay, but we need to stay engaged.”

(With inputs from agencies)

United States President Joe Biden in his first public address from the White House after Republican Donald Trump's presidential election win on Thursday (Nov 7) said that he has instructed the officials in his administration to ensure there are no hiccups in the transfer of power.

United States President Joe Biden in his first public address from the White House after Republican Donald Trump's presidential election win on Thursday (Nov 7) said that he has instructed the officials in his administration to ensure there are no hiccups in the transfer of power. “Yesterday, I spoke with President-elect Trump to congratulate him on his victory, and I assured him that I direct my entire administration to work with his team to ensure a peaceful and orderly transition. That’s what the American people deserve,” Biden said. "You cannot love your country only when you win," he added. “Something to hope we can do, no matter who you voted for, is see each other not as adversaries, but as fellow Americans. Bring down the temperature. “I also hope we can lay to rest the question about the integrity of the American electoral system. It is honest, it is fair, and it is transparent, and it can be trusted, win or lose,” said the US president. Also read: Trump-Putin phone call expected before January inauguration Biden also expressed gratitude to all the election workers and said, “I also hope we can restore the respect for all our election workers who busted their necks and took risks.” “At the outset, we should thank them. Thank them for staffing voting sites, counting the votes, protecting the very integrity of the election. Many of them are volunteers who do it simply out of love for their country. And, as they did, as they did their duty as citizens, I will do my duty as president. I will fulfill my oath, and I will honor the constitution. On January 20, we’ll have a peaceful transfer of power here in America,” he added. “I know it’s a difficult time. You’re hurting. I hear you and I see you, but don’t forget, don’t forget all that we accomplished. It’s been a historic presidency, not because I’m president, because what we’ve done, what you’ve done,” Biden said addressing fellow Democrats who are down after the defeat. Also read: Inflation, Immigration or Abortion Rights: What went wrong for Kamala Harris? "Much of the work we’ve done is already being felt by the American people, but the vast majority of it will not be felt … over the next 10 years … We have legislation we passed that’s just only now, just really kicking in. We’re going to see over a trillion dollars worth of infrastructure work done, changing people’s lives in rural communities and communities that are in real difficulty," he added. Concluding his address, Biden said, “Together, we’ve changed America for the better. Now, we have 74 days to finish the term, our term. Let’s make every day count. That’s the responsibility we have to the American people”. He wrapped up his speech by relaying a message of hope and urged people to never give up: “Setbacks are unavoidable, but giving up is unforgivable. We all get knocked down, but the measure of our character, as my dad would say, is how quickly we get back up. Remember, a defeat does not mean we are defeated. We lost this battle. The America of your dreams is calling for you to get back up. That’s the story of America for over 240 years and counting. It’s a story for all of us, not just some of us. The American experiment endures. We’re going to be okay, but we need to stay engaged.” (With inputs from agencies)

Biden addresses nation after Trump's decisive victory, says American electoral system is fair 'win or lose'

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