Finance News

Trump faces a tighter race with Kamala Harris set to replace Biden


US Vice President Kamala Harris holds a campaign event that is her seventh visit to North Carolina this year and 15th trip to the state since taking office in Fayetteville NC, United States on July 18, 2024.

Peter Zay | Anadolu | Getty Images

President Joe Biden’s endorsement of Vice President Kamala Harris as the Democratic nominee for president has set the stage for a much tighter and uncertain race in November, according to some experts

Biden stepped down from the race Sunday as top Democrats had been urging him to drop out following a disastrous debate performance and as Republican nominee Donald Trump was leading in the polls.

The Democrats had been headed for a “landslide defeat” in November, but now, they stand a chance, said Ian Bremmer, President and Founder of Eurasia Group.

“They’ve turned [this race] around, and President Biden has given the Democrats a fighting chance,” he told CNBC’s “Squawk Box Asia” on Monday.

Harris now finds herself on a glidepath to the Democratic nomination, though she will still need to win a majority of delegates ahead of the Democratic National Convention in Chicago in August. 

Harris' business and economic policies are likely to mirror President Biden's, says DCLA's Sethi

While some other contenders might throw their hat into the race, “it is very clear that Kamala Harris is the prohibitive favorite to become the nominee,” Bremmer said. 

If Harris wins the nomination, she would offer the Democrats a “total reset,” Steven Okun, founder and CEO of APAC Advisors, told CNBC’s “Squawk Box Asia.”

“If the Democrats can be unified, come out of this convention, speaking with one voice, energized, excited, then they have a good chance to win in November,” he said.

Allan Lichtman, a presidential historian who has correctly predicted the winner of every presidential election since 1984, told CNBC’s “Capital Connection that Harris would be in a “strong position to win the upcoming election” in a match-up with Trump.

He will wait until the Democratic convention to make his official prediction.

Harris said in a post on social media platform X that she was looking to work to “earn and win” the nomination while uniting Democrats.

How Harris helps Democrats

Democrats have good chance of winning if they're united and speak with one voice: McLarty Associates

“You see a lot of enthusiasm for Harris, a younger, more vibrant, more energetic former prosecutor that could certainly perform extremely well on the debate stage,”…



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