US election 2020: Why the economy matters so much
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Why the economy is a big issue for Americans in the 2020 US election
Millions of American adults will vote today to decide if Joe Biden or Donald Trump will be president of the United States for the next four years.
At the start of this election year, supporters of Donald Trump felt his record supporting businesses, jobs and the economy could be a deciding factor in him winning another term in the White House.
When Trump was elected in 2016, he said he would 'make America great again'. During his time as president he has kept promises such as creating jobs, building factories and cutting taxes.
In January the president said: "Our economy is booming, wages are soaring, workers are thriving and America's future has never, ever looked brighter."
But just weeks later the country and the economy was plunged into a crisis, businesses closed, jobs were lost, and states and cities went into lockdown, all because of the coronavirus.
What impact has coronavirus had on the US economy and Trump's hopes of re-election?
Donald Trump had hoped to focus his re-election campaign on a strong economy before the pandemic.
At a recent rally in Erie, Pennsylvania, the current president said the virus has meant he's had to work harder to win the election:
"We had this thing won, we had the greatest economy, greatest jobs, greatest everything. Then we got hit by the plague and I had to go back to work.
"Hello Erie, may I have your vote?" The president said.
As both candidates campaigned right up until Tuesday's vote, the United States continues to face the problems caused by the virus.
The US has recorded more cases and more deaths than any other country in the world and millions of Americans are out of work with calls for more government support for the unemployed.
But President Trump says the US economy is on the road to recovery under his leadership. At a campaign rally in Michigan, Mr Trump said:
"The economy is now growing at the fastest rate ever recorded."
The US economy saw a record-breaking 33% growth in July, August, and September of this year, but that had followed a period when the the US economy had shrunk by a record 31% during the months of April, May, and June.
Experts say the damage caused by the pandemic - which has seen the biggest decline in the US economy in more than 80 years - could still take years to overcome for whoever wins the election.
To know if the economy is doing well, experts look at something called gross domestic product (GDP), which is the total goods and services produced in a country.
They also look at the number of people with and without jobs and how equal societies are.
President Trump says the US is bouncing back thanks to coronavirus restrictions being lifted in some states, a policy that he has supported as president.
At his rallies he has told Americans that the vote is a choice between "a Biden lockdown" or a "Trump super boom" and economic recovery.
He says that Joe Biden will continue to lockdown the country, which would be damaging for businesses and result in "no kids in school" and "no Christmas".
What does Joe Biden say?
Joe Biden has refused to rule out further lockdowns if he becomes president, but has criticised Donald Trump's handling of the pandemic.
While campaigning in Florida, the former vice-president said Trump's failure to properly deal with coronavirus has made the United States' economic pain worse and left millions of people unemployed.
He also criticised Mr Trump for being unable to provide more government money to struggling households and businesses.
"I'm not going to shut down the economy, I'm not going to shut down the country, but I am going to shut down the virus," Joe Biden said.
"When Barack [Obama] and I left office, we left Donald Trump a strong economy . . . and just like everything else he inherited, he blew it."
What young people in the US think about coronavirus and the election
What does the US election mean for the UK economy?
The UK currently trades with the US on terms that were negotiated with the European Union, but that will change on 1 January because of Brexit when the UK will stop following EU trade rules.
Both the US and the UK are negotiating a trade deal, with the aim of making it easier and cheaper to buy and sell goods to each other. It is also hoped that a deal will mean goods imported from America will be cheaper to buy in shops in the UK.
The new presidential term doesn't start until 20 January 2021, so a deal is unlikely to be agreed until after then.
When and what kind of deal is agreed depends on who wins the US election.
If President Donald Trump wins the election, he says he wants a speedy trade deal and has called himself "Mr Brexit".
But if Democratic party candidate Joe Biden wins, a deal with the US could be a slower process, as he might focus more on the United States' relationship with Europe.
- Published30 October 2020
- Published2 November 2020
