On November 5 this year, American voters will have a choice: will they support former Republican President Donald Trump? Or will they elect Vice President Kamala Harris, who was chosen as the Democratic candidate at short notice following President Joe Biden’s decision not to run again? This US presidential election is likely to be one of the most important elections on the global stage. The world is currently suffering from wars, rising tensions between major powers, and other geopolitical risks. Nevertheless, most of these risks have not yet radically affected the outlook for economies and markets. However, many observers fear that this could change if the US returns to an aggressive “America First” stance. On the other hand, Harris is seen as a candidate of policy continuity who will maintain many of Biden’s economic and foreign policy measures.