Donald Trump and Joe Biden US Presidential election

US Election 2020

Over the weekend, Pennsylvania, Arizona and Nevada declared their results and tipped the presidential scales in the direction of Democrat, Joe Biden. There is still however a lot to talk about in this historical election race, Investec experts analyse the latest developments and what they may mean for you, businesses and the global economy.

2020 US election results so far

Please note: these results are up to date as of 16:00 GMT 05/11/2020
Source: The Associated Press
Phil Shaw, Investec Chief Economist

Despite flipping Pennsylvania, and being announced as winner of the presidency election, Joe Biden is still limited in what transitional work can be done, because the US General Services Administration, which overseas federal property, has not given the go ahead for the transition to begin. A Trump appointee runs the agency and Mr Trump has not conceded to Mr Biden yet. He is pursuing several legal avenues, a recount and planning rallies.

Phil Shaw, Investec Chief Economist

Key dates:

  • 8 December: Deadline for states to resolve election disputes (e.g. recounts, court contests)
  • 14 December: Electoral College representatives meet in state capitols to formally cast votes.
  • 3 January 2021: The 117th Congress, with new appointees, is scheduled to meet in Washington.
  • 6 January 2021: Congress enters electoral votes into the record and the Senate president announces vote tallies.
  • 20 January 2021: The next president is due to be inaugurated in Washington.

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