Letter from Mark Langabeer, Hastings and Rye Labour member
The US elections have been heralded as historic in most of the media. The Rebublican Party have won both the Senate and, likely, the House of Representatives. Trump has been elected as the President.
The reaction on Wall Street was positive, no doubt due to Trump’s pledge to cuts in individual tax and corporation tax. But internationally, stock markets have not been so bullish. Trump has threatened general tariffs on imports, particularly China. Overseas stock markets fear that it could result in a trade war which would lead to higher inflation and a new worldwide recession.
The media have said that Trump’s victory was largely the result of the cost of living crisis. Although the US has experienced growth recently, the people on ‘Main Street’ haven’t felt the benefit. There were many interviews where Americans complained about petrol and grocery prices.
Many will feel disappointed that Trump, a right-wing populist, has won. A number of rights are threatened by the Republicans: the right of women to have an abortion and rolling back of so-called, ‘woke’ legislation.
Trump and his allies are also climate deniers. In my view, the election does represent a step backwards, but if you drill down on the election figures, they tell a different story. Trump got fewer votes than in 2020. It’s the fall in support for the Democrats that has been decisive. Trump was able to retain most of his base. This serves as a warning to the British labour movement. If it fails to deliver a better life for workers, particularly the poorest sections of society, then it will open the door for the likes of Badenoch or Farage.
[Top picture: BBC graphic, November 11]
