TL/DR: The story of how social media fractured the traditional media landscape has been well told.
The rundown: While the president-elect Donald Trump may not have personally ended the media, defined here as newspapers, TV, radio and the like—including the outlet you're reading—the press comes out of Tuesday's election a far diminished force. Find out more about how it's grappling with questions of influence and its future in a polarized America.
Why it matters: Elon Musk—the billionaire to whom Trump entrusted digital campaigning, evidently with success—broadened the point on Tuesday night when he also declared the media all but dead. "You are the media now," he told his 200 million followers on X. The path of traditional media's institutional collapse is really two intertwining stories: a breakdown of its business model exacerbated by a breakdown of influence, the extent of which became clear this campaign cycle. Behind it all lies a growing sense among Americans that the media cannot be trusted to tell them the news they believe is fair. Trump hasn't sat down with CNN in 18 months, instead focusing his campaign media strategy on podcasters and social media influencers like Bet-David.
Read more in-depth coverage:
Who Might Be in Trump's New Cabinet? List of Reported Contenders
What happens now? The dawn of another Trump era could give the press a chance to regain the trust of the public that slipped away over the past four years. After all, the last Trump term was good for business. Or it could accelerate a path toward mainstream irrelevance.
TL/DR: "Trump's victory underscores the Democrats are not an opposition party. They presented themselves as the lesser evil of the neocons.”
The rundown: Democrats pleaded with Green Party candidate Jill Stein to stand down, arguing that she would draw crucial votes, undermining President Joe Biden and Vice President Kamala Harris. Here's what else Stein told Newsweek.
Why it matters: Stein told Newsweek on Wednesday that Harris only has herself to blame for losing the Muslim vote in Michigan—and that the Democratic Party has lost its credibility. She rejects the suggestion that she helped President-elect Donald Trump win in Michigan and elsewhere. The Green candidate said she was proud of her party's performance in Dearborn—and large parts of Michigan. Biden won in Dearborn by a 3-to-1 margin in 2020, but Trump took 47 percent this time around, with Harris at 28 percent and Stein at 22 percent. She said the Green Party will position itself as a party of opposition to Trump.
Read more in-depth coverage:
Michigan's Muslim Voters Sent Kamala Harris a 'Message'—Democrat
What happens now? Stein said “there is a real movement here in Dearborn. It feels like a real alliance with the Muslim American community—and we will continue to build on that.” Stein, who placed Israel's wars with Hamas and Hezbollah front and center during her campaign, said she will continue to fight for peace in the Middle East.
TL/DR: Biden will go down as the only Democrat who successfully beat the real estate-mogul-turned-reality-TV-star-turned-politician at the ballot box.
The rundown: While Democrats across the nation are grieving the loss of the 2024 election, President Joe Biden is somewhere biting his tongue. Could he have beaten Trump? Find out if Biden had done things differently.
Why it matters: This year, Trump has received more than 71.8 million votes, compared to Harris' roughly 67 million, with some votes still being counted. Although that still puts Trump 2.4 million votes short of the record-breaking turnout he received four years ago. Harris massively underperformed Biden's numbers, falling short by more than 14.2 million of the 81 million votes that her boss received in 2020. Here's how Democrats botched the election. Biden maintained stronger performances among unions voters and men—two groups that Harris struggled with once she was at the top of the ticket and who were particularly critical to Trump flipping Pennsylvania.
Read more in-depth coverage:
Kamala Harris Underperformed with Three Core Demographics
What happens now? Plenty of strategists and pundits believe that the Democrats would have lost regardless of if it was Biden or Harris at the top of the ticket. The party was facing an uphill battle from the jump, with an anti-incumbent mood sweeping through other affluent democracies around the world.
TL/DR: Trump's proposed trade policies, including a 10 percent tariff on all imports and additional taxes on Chinese and Mexican goods, could reignite inflation.
The rundown: The Federal Reserve is set to cut its benchmark interest rate for the second consecutive month on Thursday in an effort to further ease inflationary pressures that have concerned American consumers and played a role in shaping the recent U.S. election results. Find out what this rate cut could mean for your wallet.
Why it matters: The move comes while inflation, which surged to record highs during the pandemic recovery, has shown signs of slowing. However, President-elect Donald Trump's proposals have raised concerns about potential inflationary pressures, complicating the central bank's decision-making process. Trump's economic agenda includes widespread tariffs, higher taxes on imports, and large-scale deportations. It is viewed by many analysts while potentially inflationary, which could undermine the Fed's progress in taming inflation. The central bank has long defended its autonomy, stressing that decisions on interest rates should be driven by economic data, not political pressure.
Read more in-depth coverage:
Wall Street Edges Up as US Election and Fed Rate Meeting Loom
What happens now? If inflation begins to rise again, the Fed may face increasing pressure to halt or reverse its rate cuts. For now, the central bank will likely proceed with its Thursday rate cut, but how much further it will go in reducing borrowing costs in 2025 remains uncertain. Meanwhile, markets are increasingly pricing out the possibility of further rate cuts in 2025. As of Wednesday, futures prices suggest only a 28 percent chance of a rate cut in January 2025, a sharp decline from nearly 70 percent a month ago.
TL/DR: The U.S.-China relationship has continued to be fraught under the Biden administration, with China cutting military ties at the leadership level following former House Speaker Nancy Pelosi's trip to Taiwan in 2022.
The rundown: Chinese President Xi Jinping called to congratulate President-elect Donald Trump on his win in Tuesday's election, China's Ministry of Foreign Affairs said on Thursday. Learn more about the significance of this gesture and what it could mean for U.S.-China relations moving forward.
Why it matters: China's Foreign Ministry cited Xi as saying he hopes both sides will "uphold the principles of mutual respect, peaceful coexistence, and win-win cooperation"—three elements the country frequently underscores in discussions about its relations with other states. Trump has praised XI in the past for his 'Iron Fist' rule of China. Trump's first term in office marked the beginning of the sharp downturn that now characterizes relations between the world's two largest economies. His administration launched a trade war by imposing tariffs on Chinese goods worth hundreds of billions of dollars, citing unfair trade practices.
Read more in-depth coverage:
China's Social Media Reacts As Trump Wins US Presidency: 'Season Two'
What happens now? Xi stressed he hopes the two countries will strengthen communication, "properly manage differences" and "find a correct way for China and the United States to get along in the new era, so as to benefit both countries and the world," the statement said.
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