On Wednesday, September 11th at 9:00 am Beijing time, the Democratic presidential candidate and Vice President Harris and Republican presidential candidate Trump held their first televised debate. The entire debate lasted about 90 minutes, with the two candidates discussing various issues such as tax and energy policies, immigration, and the Gaza conflict.

Harris and Trump debate for the first time, Harris shows composure

In order to avoid two candidates competing for each other's microphone, according to the new debate rules, when one candidate speaks, the microphone of the other candidate will be turned off, and they will not be informed of the topic or question beforehand. After the debate began, the two candidates shook hands, but it did not affect the intense atmosphere of their speeches afterwards.

Trump's debate strategy is very similar to his in June, using a lot of exaggerated language to attack opponents, and even applying a lot of erroneous data and false facts. When faced with topics that are unfavorable to himself, he chooses to change the topic or shift the blame to the opponent.

Compared to Biden's debate in June, Harris' performance was clearly much stronger. Harris put Trump on the defensive and launched a series of attacks on whether Trump was suitable for public office and his numerous legal issues. Trump denies any wrongdoing and once again accuses Harris and the Democratic Party of planning all these cases without evidence.

In addition, Harris is able to calmly counterattack when facing attacks, accusing Trump of lying and occasionally provoking Trump with words, making him angry.

During the debate, Trump once again attempted to link Harris to some unpopular policies of the Biden administration, calling Harris' Biden '. Harris firmly denies it.

Harris debate aide said that the provocation strategy has achieved great success, and Trump has been "hooked everywhere". Some of Trump's allies complain that they are frustrated by Trump's repeated loss of composure.

The main topics of debate between Harris and Trump

① Taxation

Previously, economists and policy experts stated that Trump's foreign policy during his second term is expected to focus on high trade tariffs. In contrast, Harris is expected to focus more on targeted restrictive measures coordinated with US allies.

Previous polls have shown that American voters favor Trump more on economic issues. At the beginning of the debate, the two candidates focused on economic issues.

Harris criticized Trump's intention to impose high tariffs on foreign goods. She compared this proposal to a sales tax on the middle class, saying that Trump's tariff plan was essentially a "tax on everyday goods", for which Americans are already paying the price.

Harris also attacked Trump's other proposals, such as providing tax cuts to businesses, and believed that these proposals would harm middle-class American families.

At the same time, Harris is promoting his plan to provide tax incentives for families and calling the $50000 tax credit for small business owners a wise move, which is a widely accepted response to policy proposals and other ideas such as banning price measurement.

Harris stated in the debate that mainstream economists believe her economic plan will promote economic growth, while Trump's economic plan will cause the economy to shrink.

Trump defended his recent vow to increase trade tariffs, stating that he did not cause inflation despite raising tariffs.

Trump criticized Harris for the persistent inflation during the Biden administration, but he exaggerated the extent of price increases. Trump warns that inflation is a disaster for the people, the middle class, and every class.

② Energy

Harris has changed her previous attitude of opposing most of the current oil and gas production technologies in the United States and is striving for support from the oil and gas industry. Harris' current position is to ban hydraulic fracturing and invest in various energy sources to reduce dependence on foreign oil. She also claimed that the domestic oil production in the United States has achieved the largest growth in history.

Trump accuses Harris of 'fossil fuel extinction' if elected, calling himself a 'super fan' of solar energy. Trump has stated that he hopes to repeal the Inflation Reduction Act, which emphasizes the clean energy industry, reclaim unused funds, and promise to declare a national energy emergency after being elected, increase oil and gas production in the United States, and achieve a significant increase in domestic energy supply.

③ Immigration issues

Trump attempted to blame Biden and Harris for the "border crisis" in the United States, with some problematic immigrants crossing the southern border with Mexico. Trump also promised to implement the "largest repatriation operation in American history" after taking office.

On the issue of immigration, Harris advocates for comprehensive immigration reform and accuses Trump of obstructing Congress from advancing relevant legislative work.

④ Gaza conflict and Russia-Ukraine conflict

The two candidates also engaged in a confrontation over geopolitical issues such as the Israeli Palestinian conflict, but neither has specified how they will seek to end the conflict.

When asked whether he hoped Ukraine would win the Russia-Ukraine conflict, Trump said he hoped for a truce, saying that if he was re elected president, he could "solve" the Ukrainian crisis within 24 hours. Harris, on the other hand, claimed to firmly support Ukraine and refuted that the reason why Trump said he could "solve" the Ukrainian crisis within 24 hours was that he would give up on Ukraine.

On the Israeli Palestinian issue, Trump believes that Harris hates Israel. Harris stated that he will continue to support Israel and promote ceasefire negotiations. Harris stated that the Israeli Palestinian War must end immediately to avoid harming more innocent civilians; Trump said, "If I were the president, the Russia-Ukraine conflict and the Palestinian Israeli conflict would never happen".

Meanwhile, Harris pointed out in the debate that Trump's foreign policy appears too weak.

⑤ Other topics

Both sides also mentioned topics such as Trump's "hush money" case, the January 6, 2021 US congressional riots, and the withdrawal of US troops from Afghanistan.

It is worth noting that Harris and Trump are not at odds on every issue. For example, both expressed support for the US technology industry. Harris stated that the United States needs to 'win the race in artificial intelligence'.

The poll tends to believe that Harris performs better

Due to the fact that this debate is less than two months away from the election voting, it will be a 'decisive 90 minutes' for the two US presidential candidates. According to statistics from multiple media outlets, during the approximately 90 minute debate, Trump spoke longer and Harris spent more energy attacking. It is worth noting that Harris and Trump did not end the debate with a handshake.

It's funny that after the debate, both Harris and Trump said they won. The Harris campaign team stated that Harris is the only winner tonight. Trump also sent multiple messages on social media celebrating his victory, calling it his best debate ever. The Harris campaign team hopes to hold a second debate, while the Trump team says, "They lost, so they want to come back

From voter feedback, the vast majority of voters believe that Harris performed better in this debate.

The Washington Post conducted a small-scale survey of 24 undecided voters in swing states, with 22 believing Harris performed better and only 2 believing Trump performed better. According to a CNN poll, 63% of viewers believe that Harris defeated Trump in the debate.

Market analysis suggests that, at present, Harris policy may support US bond rates and the US dollar, but it is unfavorable for US stocks; Trump is favorable for the US stock market, but may intervene in the US dollar.

Daily chart of the US dollar index