By Adedapo Adesanya
Mr Donald Trump has been elected as the 47th President of the United States, making a return to the White House, where he once governed the nation from 2016 to 2020.
Mr Trump, 78, recaptured the White House on Wednesday by securing more than the 270 Electoral College votes needed to win the presidency and defeat Ms Kamala Harris of the Democratic Party.
As of press time, Mr Trump had won 277 electoral votes to Ms Harris’ 224 with some more states to be counted.
He also led his competitor by about 5 million votes in the popular count.
Major news outlets have also called the win for Mr Trump, with projections pointing that Ms Harris cannot stage a comeback.
The Republican Party is also on track to win the popular vote for the first time since 2004 and retake the Senate, adding more to Mr Trump’s strength with the House of Representatives already in the party’s control.
Speaking to supporters on Wednesday in Florida, Mr Trump said, “America has given us an unprecedented and powerful mandate.”
Initially running against President Joe Biden, he dominated their first and only debate together, prompting his opponent to drop out just weeks later. Ms Harris, who is the current Vice President, stepped up to the challenge.
As per Reuters, many Americans remained frustrated by higher prices even amid record-high stock markets, fast-growing wages and low unemployment. With the administration of President Joe Biden taking much of the blame, a majority of voters said they trusted Mr Trump more than Ms Harris to address the issue.
There was also a swing as Hispanics, traditionally Democratic voters, and lower-income households hit hardest by inflation helped fuel Trump’s election victory.
Also, his loyal base of rural, white and non-college-educated voters again showed up in force and put him in office again.
Many will be awaiting what his administration will do differently from the first four years he was in office. The main concerns will be implications for US trade and climate change policies, the war in Ukraine, Americans’ taxes, and immigration.
Also, market watchers will be watching to see if his tariff proposals as contained in his manifesto could spark a fiercer trade war with China and US allies, while his pledges to reduce corporate taxes and implement a spate of new cuts could balloon US debt.