This year’s 1st debate between political candidate Donald J. Trump and Kamala Harris occurred on September 10th at 9 pm. The event was filled with intense moments between the rivals as they discussed a myriad of issues ranging from inflation to immigration. Noted as one of the most watched debates in history, the 90-minute-long conversation shed light on many policies and issues. Here’s what you need to know about the Trump vs Harris debate 2024 and how it could affect the markets moving forward.
This event was set to follow some strict rules to help ensure the candidates didn’t exceed the time limits or talk over each other. As the national election is less than 55 days away, this conversation provided both candidates with a way to clarify their stance on many hot-button issues. Notably, it took place at Philadelphia’s National Constitution Center. This location has been crucial in the US Constitution studies, making it an ideal location for political discourse.
Trump vs Harris 2024 Debate rules
This debate had some rules present to help make the event run smoothly. The new rule set included no interruptions as each candidate would have a podium and microphone that would only be on during their turns. Each candidate was also given preset time limits to answer and rebuttal their opponents. Additionally, no props or notes were allowed, and no questions or topics were provided to the participants before the event.
Trump vs Harris 2024 Debate Hosts
The debate had two well-known hosts from the ABC network, David Muir and Linsey Davis. Muir is the host of ABC World News Tonight, and Davis anchors World News Tonight. As such, they both have experience dealing with politicians and overall did a good job of preventing the two participants from going over time or breaking rules.
Economic Issues Led the Debate
The debate started with the top subject for American voters: the economy. The moderators asked the candidates about their economic plans, policies, and goals. The US economy continues to experience volatility following years of COVID-19 restrictions, economic bubbles, and shipping woes. Each candidate took a moment to explain their economic plans.
Harris responded first by introducing her new economic policy as an “Opportunity Economy.” She explained that she grew up in a middle-class family and didn’t inherit $400M from her father, an amount later rebuked by her opponent. She discussed how her economic policy would be geared towards helping the middle class.
Part of her strategy would be to provide a $50k tax credit to call new business owners. This credit would allow these individuals to “pursue their dreams” and help to fortify the economy from the middle outwards. She went on to criticize Trump’s policy of providing large tax cuts to the wealthy.
In response, Trump cited his economic statistics during his first term in office. He stated that he had built the greatest economy the world has ever seen before claiming that Harris was incorrect in her assumption that his economic policy was based on cutting taxes for billionaires. Trump went on to explain that tariffs would help fund his economy, not taxing the middle class.
Trump vs Harris – Inflation
Inflation was a main topic for the candidates, who shared different perspectives on how the country arrived at this point and the best option to follow moving forward. Trump noted that the economic woes were not targeting any class in particular and that all Americans were feeling the crunch. He also stated that inflation was much higher than stated due to how it was reported using averages.
Trump then described how some products had seen nearly 80% inflation, like eggs. Trump pointed to his first term and the economic growth experienced before the COVID-19 pandemic. He explained that the economy was much healthier under his presidency before blaming the Biden and Harris administrations for losing the economic advantage due to bad management.
Harris shared some interesting data regarding how her administration was able to build on the economic growth following COVID-19 to help regain the country’s strength. She explained that her policy of opportunity economics was powered by the average American and not billionaires. She also expressed a desire to help entrepreneurs take their business concepts and make them a reality to help fund the future economy.
Trump vs Harris – Taxes
Taxes were another hot-button issue that the two candidates faced off against. Kamala spoke on Trump’s plan to raise income tax on the average citizen and give billionaires tax cuts. She expressed a desire to create more middle-class tax cuts and introduce incentives for the average person to build up wealth. She then expressed disbelief in an approach that begins with the wealthiest individuals first.
Trump fired back at Harris, stating that he had never proposed major tax increases for American citizens. He explained that this plan would derive additional income via tariffs on foreign countries. Trump said that he was the first president to impose hard tariffs on China, which resulted in billions in revenue. He then asked Harris why they remained in place during her term as a vice president if they didn’t work. Then, Trump described how tariffs helped to balance out the major trade deficits that had accumulated with other nations like China before expressing a desire to expand the tariffs to protect other industries, such as the automotive sector.
Energy Dependency
The next topic of debate was energy dependency. The two candidates agreed that they need to reduce dependence on foreign oil but have different approaches to accomplish the task. Harris spoke on the importance of being energy-independent on oil alongside introducing alternative green energy sources. She explained that it would take a comprehensive approach to make American energy independent in the future.
Trump attacked Harris for her stance on energy independence, claiming that she was unrealistic in thinking that the US was ready to go to a full green economy. He cited Germany and a stuttered transition that required the country to return to fossil fuels for the time being. He also asked how Harris intended to accomplish this task before questioning her predecessor’s choice of blocking a US pipeline but approving the Russian German Nordstrom project.
Fracking
This question led to a query into each candidate’s view on fracking. Trump started by stating that fracking was a vital part of the US oil strategy and that it should be further pursued. He also stated that through fracking, he was able to reduce the oil prices of the average American and push US oil production to its peak. Finally, he questioned Harris about her views regarding fracking, which have shifted over the last year.
Originally Harris had been opposed to fracking but recently has changed her stance to more pro fracking. Harris wants to pursue more green energy but would allow fracking to help reduce America’s dependence on foreign oil for the coming years. She stated that she supports fracking and wouldn’t prevent it, which was seen by many in PA as a vital issue for the swing state.
Conflicts
The moderators then went into some conflict-related questions regarding the Israel-Gaza Conflict. Harris stated a dire need for a cease-fire and release of hostages. She began by condemning the Hamas attack before explaining that all civilian casualties in the conflict were a great loss. Harris stated that she believes in a two-state solution that includes security guarantees for both Israel and Palestinian people. Lastly, she discussed the importance of rebuilding Gaza.
Trump stated that Harris hates Israel and that if she was elected, he believes that Israel wouldn’t exist in the next two years. He also said that Harris skipped a meeting with Israel Prime Minister Netanyahu during his last visit to attend a sorority party, which she denied. Trump went on to say that the Gaza and Russian conflicts would have never happened if he had been in office.
He then stated that Iran was a major threat, explaining that they were able to build up their capabilities due to the Biden administration dropping the tariffs imposed. This decision led to the country growing its other fighting forces including Hamas according to Trump. Lastly, he discussed his relationship with Putin and how mutual respect would have prevented the entire conflict before it started.
Healthcare
Healthcare was another topic that both candidates battled out on. The moderators asked Trump about his many attempts to kill Obamacare and his current change of stance toward allowing it to exist. He responded by saying that Obamacare was never going to be perfect and that he chose to keep with the hopes of one day providing a better alternative.
Harris stepped in and spoke on her healthcare plan. She refused Trump’s claim that she didn’t support private healthcare options before citing +60x Trump’s attempt to get rid of Obama care. She stated her goal is to strengthen the Affordable Care Act when in office. These plans include placing price caps on needed medications. She had already begun this policy when she capped insulin prices while in office this term. Lastly, she said that access to healthcare should be a fundamental human right.
Climate Change
The climate was the next topic to get attention. The moderators asked each participant What would they do to fight climate change with Harris responding first. She began by explaining that Trump believes that climate change is a hoax. She also stated that while in office, +$1T has been spent to help fight climate issues and drive clean energy demands. According to the candidate, these maneuvers have led to the creation of 800k new jobs. She also said that if elected she would further this commitment and couple it with a push to buy American goods and services to help support manufacturing jobs at home.
In rebuttal, Trump cited Chinese manufacturers and other companies seeking lower-cost locations like Mexico. He described how these maneuvers are meant to enable Chinese firms to skirt tariffs that hurt American automakers. Trump went on to say he would tariff these goods so strongly that they couldn’t compete with American-made options.
Closing Statements
Kamala ended her debate by speaking on moving past the decisive last 8 years and embracing a new vision for the country. She described her upbringing as a middle-class citizen and how she is particularly familiar with the country’s legal woes. She also described her time as a prosecutor and stated that she never asked if her clients were Republican or Democratic, only if they were OK.
Trump closed the debate by asking his opponent why she hadn’t done any of her policies over the last four years while she was in office. He went on to state that fracking would be illegal and the US oil market would crumble under her administration. He ended by saying that his opponent would sacrifice the country if elected.
Democratic Victory – Daqo New Energy Corp.
Daqo New Energy Corp could benefit if a democratic victory occurs in November. The company is a leading manufacturer of solar panel materials. Specifically, the firm produces high-purity polysilicon. This material has become a crucial component for solar panel manufacturing.
Daqo New Energy was founded in 2006 as Daqo Group Limited. It’s a Shanghai, China-based firm that entered the New York Stock Exchange in 2012. Notably, DQ stock is currently down alongside many other tech firms. However, many see the stock regaining its losses and surpassing previous highs due to its positioning and the strong desire for additional solar panel manufacturers.
Republicans Win – Baker Hughes
Founded in 1908, Baker Hughes is a massive player in the oil drilling and fracking markets. The company offers a variety of professional-grade oil drilling equipment to the market. These products range from hardware to AI power solutions. The company’s recent branch into AI power management has helped the stock remain stable despite fluctuations in the market. Currently, the company has products that help with production, drilling, piping, and consulting services. The introduction of AI and digital technology offerings is seen by many as having strong upside potential in the market.
Trump vs Harris 2024 Debate – The Battle Has Begun.
One thing you could tell from the first sentences of this debate is that Harris is much more coherent than her predecessor. Throughout the event, the two candidates exchanged barbs and garnered millions of views. For now, the race is still too close to call. However, economic issues could decide the election before the vote. As such, there is a strong desire by both parties to come across as the best economic option moving forward.
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