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US Presidential Election 2020: The Coronavirus Election

Jun 8, 2020
5 min read
Table of Contents
  • 1. Will Covid-19 damage Trump’s chances of re-election?
  • 2. Biden presidential bid faces pitfalls over running mate and campaign financing
  • 3. Will vote-by-mail expansion swing US Presidential Election for Biden?
  • 4. Will Trump win over voters with renewed attacks on China?

The outcome of the US Election depends on who swing state voters perceive to be the candidate best placed to fight the twin health and economic crises. President Donald Trump has the advantage of incumbency and healthy campaign coffers, but Democrat Joe Biden polls well in swing states. This is Donald’s to lose, and Joe will be hoping to pick up the pieces.

President Trump’s management of the coronavirus crisis has highlighted the advantages of incumbency: he is the one that can actually do something. A recent poll showed that 44% of respondents thought Trump was the best person to manage the coronavirus, and only 36% responded Joe Biden. The latter has been kept out of the spotlight leading to a recent pitiful poll result that 42% of respondents were either “unaware” or “did not have an opinion” of his proposals for the pandemic.

Will Covid-19 damage Trump’s chances of re-election?

Trump’s approval rating is back to the highs of his Presidency, even as polling over his handling of the crisis remains in net negative “disapprove” territory. The way that voters weigh up their concerns over the health crisis versus the economic crisis will be of critical importance in swing states.

Here the polling looks less positive for Trump. 59% of respondents in Michigan qualified his pandemic response as “too slow”, as did 55% in Florida. As a result, general election polls have given Biden a decisive advantage, with 8-point advantages in Michigan and Pennsylvania, and a slimmer 3-point lead in Florida. This swing-state edge has consequently been reflected in national polls, in which he leads on average by 6 points.

However, these numbers must be read with caution: Biden’s lead is half what Hillary Clinton’s was in 2016 at this point, and his own shaky numbers over the handling of coronavirus will be put under strain once he goes through the scrutiny of an election campaign.

Despite these key swing-state leads, Biden has been unable to build the momentum necessary to make that lead more convincing. A credible sexual assault allegation has gained a lot of attention, and he has thus far failed to fully lock up the progressive left of the party, despite receiving endorsements from Sanders and Warren, which has translated in weak polling numbers with young voters.

Biden presidential bid faces pitfalls over running mate and campaign financing

Biden has the opportunity to boost his campaign by choice of running mate, but even that is laced with potholes. Klobuchar and Harris are too centrist for the Sanders voters and they blame brother Bernie’s woes on Warren staying in the race too long.

Biden already does well with minorities and the Midwest so the impact of Klobuchar/Harris would be minimal among those groups whilst confirming to the left that Biden will run a centrist campaign. In short, the process of selecting the VP will only re-open the deep divisions that exist within the Democratic Party.

Biden faces an uphill struggle given the financial constraints his campaign faces. As of the start of April, the Biden campaign had a cash deficit of $187m on the Trump campaign, which will be even more difficult to make up virtually and in the context of an impending recession.

This hasn’t stopped the Biden campaign from investing heavily in swing states: they have spent more than the Trump campaign in digital advertising in Wisconsin, Michigan, and Pennsylvania; despite this, they are being outspent in North Carolina and Arizona. These weaknesses could potentially be major roadblocks should they not be resolved, with virtual eyeballs ever more important now that so many people are just kicking their heels at home.

Will vote-by-mail expansion swing US Presidential Election for Biden?

In addition to the role the economy and Joe Biden’s momentum will play in the election, the conditions of the election itself will be incredibly important. Firstly, Justin Amash’s Libertarian bid for President, amidst questions of how third-parties can collect the signatures necessary to appear on the ballot, will likely play in Biden’s favour, especially in the key state of Michigan, which Amash, a former Republican, represents in Congress.

How voters will be able to vote in the context of the pandemic will play a crucial role too: some blue states have made vote-by-mail universal, while the measure has received resistance from Republicans.

This is likely because recent electoral results have indicated that expanding vote-by-mail favours Democrats, as the easy access to the ballot has increased turnout in their favour. This will be important amidst the many ongoing legal and political (both in statehouses and in Congress) battles over how to secure the vote in November.

Will Trump win over voters with renewed attacks on China?

The coronavirus has also brought new issues to the fore. Now that Trump is unable to run on the strength of the economy, he has pivoted to the issue of China. He is painting Biden as complacent with China, who he has repeatedly blamed for the coronavirus pandemic.

The heightened tensions between China and the USA will likely endanger their relationship, and push Joe Biden to adopt more aggressive rhetoric towards China. The diplomatic consequences could endanger their cooperation in the future, and push them into a neo-Cold War-esque rivalry.


Risk Warning and Disclaimer: This article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform. Trading Contracts for Difference (CFDs) involves high leverage and significant risks. Before making any trading decisions, we recommend consulting a professional financial advisor to assess your financial situation and risk tolerance. Any trading decisions based on this article are at your own risk.

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Table of Contents
  • 1. Will Covid-19 damage Trump’s chances of re-election?
  • 2. Biden presidential bid faces pitfalls over running mate and campaign financing
  • 3. Will vote-by-mail expansion swing US Presidential Election for Biden?
  • 4. Will Trump win over voters with renewed attacks on China?

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