A.n the international financial markets, no event is expected so much later in the year as the election of the American president on November 3rd. On Wednesday night, the two candidates Donald Trump and Joe Biden meet for the first time in one of three major television duels.
And these three debates are already in the calendars of investment experts in a row with the meetings of the major central banks or the next G20 summit. The largest German fund company DWS speaks of the most important elections since 1980 – when Ronald Reagan became President in Washington.
Many analysts from the major financial houses come to a similar conclusion: Both Biden and Trump would set up major economic programs after the election to get the corona-damaged economy going again. Trump is likely to push for tax cuts in particular. Joe Biden, on the other hand, has put higher government spending – financed by higher taxes for companies and wealthy private individuals – in the foreground of his campaign, as Alexander Buhrow from DZ-Bank sums up.
In the trade conflict with China, both candidates are betting on hardship. As president, Biden is also likely to put pressure on China. After all, Biden has also not promised an urgent repayment of the punitive tariffs against Beijing. The democrat is likely to rely more heavily on cooperation with western partners. Overall, Biden will be more conciliatory to Europe than Trump, says Buhrow.