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  • Writer's pictureSharbin Sajadpour

Updates on the U.S. Presidential Election


Current president Joe Biden has his sights set on a second term, forging ahead into the 2024 election against former president Donald Trump (Jon Tyson/Unsplash)


On June 24, polls displayed that President Joe Biden trailed behind former President Donald Trump by one point. In an interview with Howard Stern, Biden remarked, “I’m happy to debate him”, whereas former President Donald Trump wrote on social media, “Anytime, anywhere, anyplace.” In lieu of the upcoming 2024 election, CNN has scheduled a presidential debate between the candidates on June 27, 2024, at 9 p.m. EST. 


Recent Events That Could Influence the Election


Former President Trump has been found guilty of falsifying business records in order to hide his hush-money payments. These payments were made to adult film actress Stephanie Clifford. In return for the payments, she was told to stay silent and hide the truth about her affair with Trump. This affair was uncovered, which led to Trump being found guilty of 34 felony counts of falsification of business records in the first degree. 

Trump had a five-point lead in March, but in the past three months, Trump's popularity has decreased significantly. The polls on June 17 showed that he was two points behind President Biden.


According to a Politico/IPSOS poll, 32 percent of independents, including nine percent of Republicans, stated that they would no longer vote for Trump because of his conviction on 34 felony charges. Another outcome of Trump's conviction was the June Times/Siena survey, which showed that Trump lost a popularity point while Biden gained one. Within three weeks of his verdict, Trump's scandal has caused him to lose support, attention, and two points in the polls to Biden.


President Joe Biden has placed restrictions on immigrants seeking refuge in the U.S. However, he is also granting opportunities for illegal immigrants in the U.S. to gain citizenship. The Press-NORC Center published a poll in March, which found that approximately seven in ten Americans are unsupportive of Biden's immigration policies. 


Raising Campaign Funds  


Earlier this spring, Trump’s presidential campaign surpassed Biden’s in terms of campaign funding. Exceeding Biden’s funds by nearly $25 million, Trump’s campaign kept up the trend despite his 34-count felony conviction in late May. Per current data, Trump’s campaign recorded $141 million in funds compared to Biden’s $85 million. The Biden administration noted that they are focusing on infrastructure development in light of the funding gap, as reported by ABC News.


How the 2024 Elections Will Impact the Supply Chains


Due to the candidates’ beliefs and preferences, the results of the 2024 presidential election will have a major impact on supply chains. For instance, the government may opt to increase funding for infrastructure projects, which is largely supported by President Joe Biden.


If elected, Donald Trump will implement a 10% tariff plan, which would lead to a doubled rate of inflation. On the other hand, President Biden signed an inflation reduction law in 2023, which he plans on continuing. The 2024 presidential election will serve as a roadmap for the future of inflation rates, unemployment, and other aspects of the economy.


 



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