UPDATED 10:56 A.M.
WASHINGTON (Reuters) -U.S. President Joe Biden urged Americans to “bring down the temperature” on Thursday following Republican Donald Trump’s election victory and sought to console fellow Democrats who were alarmed by the former president’s stunning comeback.
“Setbacks are unavoidable. Giving up is unforgiveable,” Biden said at the White House Rose Garden as he addressed staff who were disappointed in Vice President Kamala Harris’ defeat. “A defeat does not mean we are defeated.”
Biden said Tuesday’s election had proven the integrity of the U.S. electoral system and said he would preside over an orderly tranfer of power – an implicit rebuke of Trump, who sought to overturn his 2020 defeat to Biden and raised baseless claims of fraud this year as well.
“We lost this battle. The America of your dreams is calling for you to get back up,” he said.
Some Democrats have blamed Biden, 81, for Harris’ defeat, saying he should not have sought reelection. Biden only dropped his reelection bid in July after a disastrous TV debate with Trump raised alarm bells about his mental fitness.
Trump’s campaign said Biden had invited him to meet at the White House at an unspecified time. In the weeks ahead, Trump will select personnel to serve under his leadership.
Harris sought on Wednesday to console supporters. Like Biden, 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.
Some Democrats worried their loss in Tuesday’s presidential election showed that their values – left-leaning, socially liberal – were now firmly a minority among Americans in a divisive campaign. Others were frustrated with the party’s leadership, who they said had lost touch with much of the electorate who wanted help with the rising cost of living.
Trump’s victory, surprisingly decisive after opinion polls that had shown a neck-and-neck contest, underscored how disenchanted Americans had become with the economy – in particular inflation – along with border security and the direction of the country and its culture.
Hispanics, traditionally Democratic voters, and lower-income households hit hardest by inflation helped fuel Trump’s victory.
Harris’ campaign pressed the message that Trump was unfit to serve again as president, as a convicted felon and one whose false claims of voting fraud inspired a mob to storm the U.S. Capitol on Jan. 6, 2021, in a failed bid to overturn his 2020 loss to Biden.
The former president will face far fewer limits on his power in his second White House term, as the head of a Republican Party that he has remade in his image over the last eight years.
Republicans wrested the U.S. Senate from Democrats in Tuesday’s vote, ensuring Trump’s party will control at least one chamber of Congress next year. Republicans also held an edge in the battle for the House of Representatives, though 38 of the 435 races still had no winner.
Trump prevailed in five of the seven battleground states to give him at least 295 Electoral College votes, more than the 270 needed to win the presidency. He was leading in the remaining two, Arizona and Nevada, where votes were still being tallied.
Trump was also on track to become the first Republican presidential candidate to win the popular vote since George W. Bush two decades ago. He lost the popular vote to Democrat Hillary Clinton in 2016 but secured enough electoral votes to win the White House.
World stocks gained on Thursday after a record rise for U.S. shares overnight, and U.S. Treasuries remained under pressure as investors processed the impact of a second Trump presidency.
Wall Street executives expected smaller government, broad deregulation as well as tax breaks for corporations and the wealthy, although fresh tariffs could bring challenges in the form of a higher deficit and inflation.
PERSONNEL PICKS
Among people who may figure in Trump’s leadership, Tesla CEO Elon Musk, the world’s richest man and a prominent Trump donor, has been promised a role in his administration, as has former presidential candidate Robert F. Kennedy Jr.
Billionaire hedge fund manager John Paulson and investor Scott Bessent were seen as possible cabinet officers in his administration, while former Trump officials Robert O’Brien and Mike Pompeo could return to office.
On trade, Trump is expected to revive policies he favored during his first term, notably tariffs that he has called the “most beautiful word.”
That could set him on a collision course with China, which has the world’s second largest economy, sow discord with allies and roil global industries from automakers to chipmakers.
Chinese President Xi Jinping sent Trump a congratulatory message and said he hopes the two powers will coexist peacefully, China’s state-run Xinhua news agency reported.
Ukrainian President Volodymyr Zelenskiy was among world leaders congratulating Trump. But Trump has been critical of U.S. assistance for Ukraine in its war with Russia. He has said he could end the war in 24 hours but has not said how.
The White House plans to rush billions of dollars in security assistance to Ukraine before Biden leaves office in January, sources said on Wednesday, hoping to shore up the government in Kyiv before Trump takes over.
(Reporting by Joseph Ax, Nandita Bose, Doina Chiacu, Gabriel Araujo, Patricia Zengerle in Washington; Andrea Shalal in Dearborn, Michigan; Gram Slattery in Pittsburgh; Jarrett Renshaw in Philadelphia; Gabriella Borter and Alexandra Ulmer in Phoenix; Helen Coster in Raleigh, North Carolina; Stephanie Kelly in Asheville, North Carolina; Steve Holland in Palm Beach, Florida; Tim Reid and Bianca Flowers in AtlantaWriting by Andy Sullivan, John Geddie and Doina Chiacu; Editing by Timothy Heritage, Frances Kerry and Howard Goller)
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WASHINGTON (Reuters) -U.S. President Joe Biden was set to address the nation on Thursday after a stinging election defeat for his Democratic Party at the hands of Republican Donald Trump, whose stunning political comeback has reverberated around the world.
Biden, who was replaced in July as the Democrats’ candidate in the race by Vice President Kamala Harris because of concerns about his mental acuity after a stumbling debate with Trump, will speak at 11:00 a.m. (1600 GMT), the White House said.
Harris sought on Wednesday to console the voters who had hoped she would become the first woman to win the White House. She, like Biden, has promised to aid Trump’s transition between now and his inauguration on Jan. 20 but said she was not prepared to embrace his vision for the country.
Trump’s campaign said Biden had invited him to a meeting at the White House at an unspecified time.
Former President Trump’s victory, surprisingly decisive after opinion polls that had showed a neck-and-neck contest ahead of Tuesday’s election, underscored how disenchanted Americans had become with the economy – in particular the effect of inflation on their standard of living – border security and the direction of the country and its culture.
Hispanics, traditionally Democratic voters, and lower-income households hit hardest by inflation helped fuel the victory. Harris’ campaign had sought to press the message that Trump was unfit to serve again as president, as a convicted felon and one whose false claims of voting fraud after his 2020 election defeat spurred a mob to storm the U.S. Capitol.
This time, Trump prevailed in five of the seven battleground states to push him past the 270 Electoral College votes needed to win the presidency and was leading in the remaining two, Arizona and Nevada, where votes were still being tallied.
He was also on track to become the first Republican presidential candidate to win the popular vote since George W. Bush two decades ago.
Republicans wrested control of the U.S. Senate from Democrats, ensuring Trump will control at least one chamber of Congress next year. It is not clear if they will retain their majority in the U.S. House of Representatives, with dozens of races not yet called.
U.S. stocks rallied to close at record highs on Wednesday after Trump’s victory, with investors expecting lower taxes, deregulation and a U.S. president who is not shy to weigh in on everything from the stock market to the dollar, although fresh tariffs could bring challenges in the form of a higher deficit and inflation.
PERSONNEL PICKS
In the days and weeks ahead, Trump will select personnel to serve under his leadership, his campaign said on Wednesday.
Tesla CEO Elon Musk, the world’s richest man and a prominent Trump donor, has been promised a role in his administration, as has former presidential candidate Robert F. Kennedy Jr.
JPMorgan Chase CEO Jamie Dimon and billionaire hedge fund manager John Paulson were seen as possible new entrants to his administration, while former Trump officials Robert O’Brien and Mike Pompeo could return to office. However, a source said on Wednesday that Dimon would remain at the bank and had no plans to join Trump’s administration.
On trade, Trump is expected to revive policies he favoured during his first term, notably tariffs that he has called the “most beautiful word.”
That could set him on a collision course with China, which has the world’s second largest economy, sow discord with allies and roil global industries from automakers to chipmakers.
Chinese President Xi Jinping sent Trump a congratulatory message and said he hopes the two powers will coexist peacefully and achieve win-win cooperation, China’s state-run Xinhua news agency reported.
Ukrainian President Volodymyr Zelenskiy was among world leaders congratulating Trump. But Trump has been critical of Biden’s assistance for Ukraine in its war with Russia. He has said he could end the war in 24 hours but has not offered a detailed plan.
The White House plans to rush billions of dollars in security assistance to Ukraine before Biden leaves office in January, sources said on Wednesday, hoping to shore up the government in Kyiv before Trump takes over.
(Reporting by Joseph Ax, Nandita Bose, Doina Chiacu, Gabriel Araujo, Patricia Zengerle in Washington; Andrea Shalal in Dearborn, Michigan; Gram Slattery in Pittsburgh; Jarrett Renshaw in Philadelphia; Gabriella Borter and Alexandra Ulmer in Phoenix; Helen Coster in Raleigh, North Carolina; Stephanie Kelly in Asheville, North Carolina; Steve Holland in Palm Beach, Florida; Tim Reid and Bianca Flowers in Atlanta, Writing by John Geddie, Editing by Frances Kerry and Timothy Heritage)
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