Kamala Harris and Donald Trump will meet face to face for the first time on Tuesday in the much-anticipated US presidential debate.

The debate marks a pivotal moment in the 2024 race, as both candidates vie for the presidency.

While Vice President Harris has energized the Democratic campaign since replacing President Joe Biden in July, her lead over Trump has narrowed in recent days, reflecting an extremely tight race.

According to the Financial Times poll tracker, Harris holds a slim 2.9 percentage point advantage over Trump nationally.

As the race heats up, both candidates will be under pressure to deliver a strong performance when they take the stage at 9 p.m. ET in Philadelphia.

Harris and Trump: Who will look more presidential?

Tuesday’s debate will follow a similar format to past presidential debates, with each candidate having their microphone switched off while the other is speaking.

ABC anchors Linsey Davis and David Muir will moderate, giving each candidate two minutes to answer questions, followed by two minutes for rebuttal, and a minute for follow-up. No prepared notes will be allowed.

Harris, who is less familiar to voters than Trump, will face heightened scrutiny.

Georgetown University government professor Hans Noel noted, “The stakes are high for both of them, but more for Harris.”

This will be her first major opportunity to directly engage Trump and defend her policies.

For Trump, the challenge will be finding effective attack lines against his opponent.

The former president has relied on personal attacks, including questioning Harris’s racial identity and reposting sexist social media comments.

However, polls show that these tactics may not resonate with voters as much as substantive policy discussions.

Trump seeks to define Harris

Both candidates will aim to shape how Harris is perceived by the public, particularly among voters who may know less about her.

Trump has portrayed Harris as a radical communist and inconsistent on policy, while also mocking her as “Laughing Kamala.”

However, he has struggled to find a focused line of attack that resonates with the public.

For Trump, the debate is a critical moment to redirect his campaign. Republican strategist Kevin Madden emphasized,

He’s going to have 90 minutes to offer a real focused line of attack on Harris . . . better than any 30-second ad.

Harris, on the other hand, will use the debate to present her policy proposals and strengthen her campaign’s substance.

After criticism that her campaign lacks detailed policy plans, the debate provides a key opportunity to prove otherwise.

Will Harris use her prosecutor background to challenge Trump?

Harris’s experience as a prosecutor has been a central part of her political identity, and she has been more aggressive than Biden in targeting Trump over his legal challenges.

During her address at the Democratic National Convention, Harris drew comparisons between her experience prosecuting “fraudsters” and Trump’s legal troubles.

She has continued to press these issues on the campaign trail, contrasting her background with Trump’s court appearances.

Trump, meanwhile, is expected to counter by painting Harris as a “weak-on-crime” prosecutor and radical prosecutor — a line of attack that may resonate with his base.

Competing economic visions to dominate debate

Voters consistently rank the economy as a top concern, and both candidates will outline their contrasting economic visions.

Trump, promoting his “America First” agenda, will emphasize tax cuts, deregulation, and energy production.

He is also expected to announce sweeping tariffs aimed at boosting US manufacturing.

In contrast, Harris will push for higher taxes on the wealthy and large corporations, alongside proposals for child care tax credits and expanded social safety nets.

However, Harris has faced criticism for not offering enough details on issues like price gouging, raising concerns among some economists about potential price controls.

While voters have previously trusted Trump more on economic issues, recent polling suggests that trust may be shifting in Harris’s favor, adding a new dynamic to the debate.

Immigration and abortion: Key flashpoints

Immigration and abortion are two critical issues that could sway voters during the debate.

Trump is likely to attack Harris for her role in handling the US-Mexico border crisis, which has seen a surge in migrants.

He is expected to point out that Harris, as vice president, was tasked with addressing the root causes of migration but has made little progress.

Meanwhile, Harris will link Trump to the 2022 Supreme Court decision that overturned Roe v. Wade, emphasizing her commitment to reproductive rights.

Trump’s stance on abortion remains complicated as he tries to balance the views of his religious base with those of more moderate voters.

Republican strategist Doug Heye noted that Trump’s approach could be effective if he remains focused.

When Harris says she will do something on any topic, all he has to say is, ‘you’ve been there for three and a half years — why haven’t you done anything yet?

As the debate approaches, both candidates will aim to sharpen their messages and appeal to a diverse electorate, with issues like the economy, immigration, and personal integrity set to take center stage.

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For the first time, former President Donald Trump and Vice President Kamala Harris will face off in what is set to be a high-stakes debate tonight.

This showdown marks a pivotal moment in the 2024 presidential campaign and offers voters a clear view of the candidates’ contrasting visions for America’s future.

With a chaotic campaign season behind them, this may be the only opportunity for both to present their cases side-by-side in front of a national audience.

With President Joe Biden withdrawing from the race in July and endorsing Harris, this debate is seen as a crucial moment for the candidates as they vie for leadership.

Where and when is the debate?

The Trump-Harris debate is scheduled for Tuesday, September 10, at 9 p.m. ET.

It will take place at Philadelphia’s National Constitution Center, a symbolic venue in the battleground state of Pennsylvania.

With no live audience, the event will allow the candidates to focus entirely on addressing the pressing issues without the usual reactions from the crowd.

The debate follows a turbulent campaign season that saw major shifts in the political landscape.

President Biden, facing mounting pressure from within his party after a lackluster performance in the June debate, stepped aside, allowing Harris to step into the spotlight.

On the other side, Trump, after surviving an assassination attempt earlier this year, has secured his position as the Republican frontrunner.

Debate start time and how to watch

The debate is set to begin at 9 p.m. ET.

It will be broadcast live by ABC News, with prominent anchors David Muir and Linsey Davis moderating the event.

Coverage will be extensive, starting with a primetime special on NBC News at 8 p.m. ET.

Anchors Lester Holt and Savannah Guthrie will lead the pre-debate analysis, offering insights into what viewers can expect.

Viewers can tune in live through various platforms, including:

• NBC News (local stations)
• NBC 4 New York streaming channel (available for free on platforms like Peacock, YouTube, Samsung TV Plus, and the NBC News app)
• ABC News for direct coverage at 9 p.m. ET

For those unable to watch on traditional TV, streaming options will be available across major devices, ensuring that the debate is accessible to a wide audience.

Debate rules and format

ABC News has laid out specific rules to ensure a structured and fair debate. Each candidate will have two minutes to respond to each question, with an additional two-minute rebuttal time.

A unique aspect of this debate is the use of muted microphones—when one candidate is speaking, the other’s mic will be turned off to avoid interruptions, ensuring that each participant has a fair chance to make their case.

There will be no opening statements. Instead, the debate will go directly into questions posed by the moderators.

The closing statements will last two minutes, with Trump delivering his closing remarks last, following a coin toss that gave him the choice.

One major focus of tonight’s debate will be the economy, foreign policy, and how both candidates plan to address pressing issues like inflation, healthcare, and national security.

Harris, who has positioned herself as a steady hand in a challenging political environment, will seek to convince voters that she’s ready to lead.

Trump, on the other hand, will likely lean on his previous tenure in the White House, promoting his policies as key to revitalizing the economy and strengthening America’s global position.

What to expect from the debate

Tonight’s debate comes at a critical juncture in the 2024 race. Harris has spent the past months solidifying her position as the Democratic candidate after a rough summer, while Trump continues to dominate the Republican field despite significant challenges.

The event promises to showcase the candidates’ starkly different approaches to leadership and policy.

Harris is expected to emphasize her experience as Vice President and her readiness to step into the role of Commander-in-Chief.

Trump, known for his bold rhetoric, is likely to double down on his core campaign promises—reviving the economy, cutting taxes, and tightening immigration policies.

Given the high stakes of tonight’s event, it is expected to set the tone for the final stretch of the campaign. Both candidates will need to be sharp, as any misstep could significantly impact their chances moving forward.

For viewers, the debate offers an unfiltered look at two candidates vying for the nation’s highest office, and it could provide a clearer sense of what the next four years might look like.

In short, the Trump vs Harris presidential debate is shaping up to be a defining moment in the 2024 election, with both candidates aiming to sway undecided voters in the final push before Election Day. Tune in tonight to witness this critical event in American politics.

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As the 2024 US presidential election approaches, the financial backing of the country’s wealthiest individuals is becoming increasingly significant.

While both former President Donald Trump and Vice President Kamala Harris have secured millions in donations from small donors, it is the billionaires’ support that could sway the campaign.

Bloomberg has compiled a list of the wealthiest Americans who have expressed support for one of the presidential candidates, either through direct statements or financial contributions.

Drawing from Federal Election Commission data as of August, the report highlights members of the Bloomberg Billionaires Index who have made donations to either the Harris or Trump campaigns.

Source: Bloomberg

Trump leads in billionaire support

Former President Donald Trump has attracted significant support from some of the wealthiest Americans.

His campaign has received a total of $24.4 million from 13 billionaires, with the top three donors — Miriam Adelson, Diane Hendricks, and Kelcy Warren — contributing a substantial $5.8 million each.

These contributions include donations to the Trump 47 Committee and allied super PACs, such as “Preserve America PAC” and “Make America Great Again Inc.”

The appeal of Trump’s policies, particularly in business and tax reforms, seems to resonate with several high-net-worth individuals.

Notable supporters include Stephen Schwarzman, chairman of Blackstone, and Harold Hamm, chairman of Continental Resources, each donating hundreds of thousands of dollars to the Trump campaign and its affiliated committees.

Kamala Harris’s billionaire backers

Vice President Kamala Harris, the Democratic presidential nominee, has garnered significant support from tech giants and philanthropists.

Harris’s campaign has raised at least $12.8 million from 20 billionaires, including those who initially supported President Joe Biden.

These contributions were transferred to Harris after she became the candidate.

Former Alphabet CEO Eric Schmidt is Harris’ top donor, contributing nearly $3 million to her campaign through the Future Forward PAC.

The tech industry, in particular, has shown a strong preference for Harris, with substantial donations from the likes of Dustin Moskovitz, co-founder of Meta Platforms, and Laurene Powell Jobs, founder of Emerson Collective.

Meanwhile, high-profile figures such as Mark Cuban have endorsed Harris, though they have yet to make direct financial contributions.

Key endorsements without direct donations

Beyond the direct financial contributions, some billionaires have chosen to endorse candidates without making monetary donations. Elon Musk, CEO of Tesla, formally endorsed Trump but has not donated directly to his campaign.

Instead, he helped launch “America PAC,” which supports Trump’s re-election efforts. Similarly, Mark Cuban has endorsed Harris but has not yet contributed financially.

These endorsements could play a pivotal role in shaping public opinion and influencing undecided voters, showcasing the complex dynamics of billionaire support in US elections.

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US stock futures, cryptocurrencies, and crude oil reacted to the latest Donald Trump and Kamala Harris debate. 

Kamala Harris victory odds rise

Futures tied to the Dow Jones dropped by 0.35% while those linked to the S&P 500 and Nasdaq 100 indices retreated by 0.40% and 0.46%. The Dow fell by 0.23% on Tuesday while the other two rose by 0.45% and 0.85% ahead of the debate.

Crude oil, on the other hand, stabilised a bit, with Brent, rising by 0.60% to $69.6 and the West Texas Intermediate (WTI) rising by 0.67% to $66.20. Still, crude has been in a strong bearish trend, and sits near the lowest point in over 16 months. The two benchmarks have dropped by over 25% from the highest point this year. 

Cryptocurrency prices were fairly muted as the debate went on. Bitcoin held steady at $56,800 while Ethereum fell slightly to $2,347. Binance Coin (BNB) and Solana (SOL) dropped to $513 and $133, respectively. The total market cap of all cryptocurrencies dropped by 0.9% to $2.09.

This performance is likely a sign that Kamala Harris won the debate against Donald Trump. A good example of this is what happened in the crypto industry. The Kamala Horris (KAMA) token rose by 3.1% to $0.0094, giving it a market cap of over $9.3 million. It has risen by over 10% in the last seven days. 

On the other hand, MAGA Hat, dropped by 6.8% while Doland Tremp and Super Trump fell by over 6% as the debate went on. 

Most important, Harris odds of beating Trump improved on Polymarket. Data from the website shows that the two were tied at 4.9%. Before the debate, Trump had a bigger margin of 54% compared to Harris 47%. The poll has over $859 million in assets.

Another Polymarket poll with over $755k in assets predicted that Harris would be the favourite to win after the debate with a 54% chance. 

What is clear, however, is that the presidential race will be close as recent polls have shown. A closely-watched New York Times and Sienna poll showed that Trump had a one-point lead nationally while they were virtually tied in most swing states.

Trump vs Harris on the economy

Therefore, cryptocurrency prices retreated because Donald Trump is the favorite candidate for the crypto community. In recent statements, he has sounded extremely supportive of the crypto industry. He even holds cryptocurrencies worth over $5 million.

Harris, on the other hand, has little support, partly because she has not expressed support for the industry and is rumoured to nominate Gary Gensler as the Treasury secretary. Gensler is highly disliked by crypto participants for his legislation through prosecution.

Crude oil also stabilised because of her rising odds. Trump has expressed support for the fossil fuel industry, through his drill, baby, drill, policies. In reality, however, Harris and Biden have been relatively good for the industry as energy prices have remained at an elevated level during their presidency. Trump’s policies would lead to more supply, possibly hurting prices. 

Trump and Harris also highlighted their economic plans. Trump has vowed to impose substantial tariffs on countries like China in a bid to lower the trade deficit. This week, he said that he would impose tariffs on countries that abandon the US dollar. 

Harris has pledged to hike taxes on companies and fight price gouging, especially among retailers. 

Assets outlook after the election

The reality, however, is that most assets ignore the president in the long-term. For example, cryptocurrencies have done well during Joe Biden and Gary Gensler’s era. Bitcoin, which was trading at $35,000 when Biden was sworn in, rose to a record high of $73,800. Ethereum was also trading at $1,300 and moved to over $4,000 earlier this year. 

This price action happened even after Gary Gensler sued many companies in the industry like OpenSea, Coinbase, and Kraken. On the positive side, Gensler approved spot Bitcoin and Ethereum ETFs.

Most importantly, American stocks do well regardless of who is in the White House. Top indices like the Dow Jones, Nasdaq 100, and S&P 500 indices have touched a record high under most presidencies. 

It is also worth noting that most stocks that are expected to do well or fall during a presidency don’t always perform as expected. For example, solar energy companies, which were expected to boom during Biden’s presidency have underperformed the market. Some have even filed for bankruptcy.

VDE vs ICLN ETFs

On the other hand, crude oil companies like ExxonMobil and Chevron have done well under Biden. As shown above, the iShares Global Clean Energy ETF has dropped by over 48% under Biden as the Vanguard Energy ETF (VDE) has risen by 160% in the same period.

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In a landmark decision, the European Court of Justice (ECJ) has ruled that Ireland must receive €13 billion ($14.4 billion) in unpaid taxes from Apple.

The decision, which is final, marks a significant turn in a prolonged legal battle that Dublin had fought to avoid.

Irish government faces political and financial dilemmas

The ruling leaves Ireland in a politically awkward yet financially advantageous position. With a general election required by March next year, Irish lawmakers must now decide how best to allocate this substantial cash injection.

The unexpected windfall comes at a time when the country is already dealing with significant infrastructural issues and a housing crisis.

Aidan Regan, associate professor of political economy at University College Dublin, commented on the situation,

The Irish government is now confronted with domestic pressures and an upcoming election. They have been asserting that this €13 billion is not theirs, but now they must address how to use it effectively.

The Irish government, which had consistently argued against the repayment of the taxes, maintains that it does not offer preferential tax treatment to any companies.

A spokesperson for the Finance Ministry referred to the government’s written statement, highlighting that the case is now of “historical relevance only.”

The government is preparing to transfer the assets held in an escrow fund to Ireland following the ECJ’s decision.

Impact on Ireland’s reputation and tax policies

Ireland has long been known for its low corporate tax rates, which have attracted numerous multinational companies, including Apple.

The country’s position on the case was rooted in concerns that enforcing the tax repayment could undermine its attractiveness as a business hub.

The ECJ’s ruling confirmed the European Commission’s 2016 decision that Ireland had granted Apple “unlawful aid” and required the recovery of the funds.

This decision comes at a time when Ireland is already experiencing a budget surplus, partly due to strong corporate tax receipts.

Robert Dever, a tax partner at Pinsent Masons, noted,

While this decision is financially beneficial for Ireland, it challenges the government’s long-standing stance that it does not provide preferential tax treatment. The ruling may impact Ireland’s international reputation, although recent changes to the tax code may mitigate some of this damage.

The process of transferring the funds from the escrow account to Ireland is expected to take several months to complete.

Global implications and calls for tax reform

The ruling has sparked discussions about the need for global tax reform. Alex Cobham, CEO of the Tax Justice Network, welcomed the decision but emphasised the broader issue of inadequate international tax rules.

“This ruling highlights the failure of current tax regulations to protect countries’ rights to tax economic activity within their jurisdictions,” Cobham stated.

Chiara Putaturo, EU tax expert at Oxfam, echoed similar sentiments, calling for comprehensive reform. Putaturo said,

This ruling exposes the problematic relationship between EU tax havens and multinationals. It should be a catalyst for closing all tax loopholes and ensuring that revenue is used for public services and combating climate change.

The ECJ’s decision underscores the ongoing challenges in international tax law and the need for continued reform to address corporate tax avoidance and ensure fair taxation.

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