Principals

1. Harris accepts nomination
2. Harris favorability
3. The ‘first friend’
4. Canada rail shutdown
5. Central bankers chart path
6. What Harris didn’t say
7. Harris’ econ plans
8. China hoards chip tools

PDB: White House responds to Trump attack on Shapiro

Jerome Powell speaks in Jackson Hole … RFK Jr. withdraws from race in Arizona ahead of speech on future … Modi in Ukraine

Takeaways as Harris closes out Democratic convention

Kamala Harris accepted the Democratic presidential nomination Thursday night, capping an unprecedented turnaround in American politics, Semafor’s David Weigel and Claire Cameron write. “Our nation has a precious, fleeting opportunity to move past the bitterness, cynicism, and divisive battles of the past — a chance to chart a new way forward,” Harris said in Chicago, just over a month after President Biden ended his campaign and she rose to the top of the ticket. “Not as members of any one party or faction, but as Americans.”

Harris framed the election as a choice between freedom and autocracy, rebuking Trump as “unserious” and a danger to democracy. She also tried to exploit Trump’s legal vulnerabilities, saying “he was found guilty of fraud by a jury of everyday Americans” and “found liable for committing sexual abuse.” Harris promised to “defend Ukraine and our allies” against Russian aggression and, like Biden, tried to strike a balance on the war in Gaza. Harris vowed to defend Israel but added that “what is happening in Gaza is devastating” and said Palestinians deserve to live freely. The convention “marked the triumphal return of former US President Barack Obama’s brand of politics — with some notable updates for the Trump era,” Semafor’s Benjy Sarlin writes.

Americans warm to Harris

The share of Americans who hold a favorable view of Kamala Harris spiked 13 percentage points between June and August, during which time she became the new Democratic nominee. New figures from Gallup show that 47% of Americans view Harris favorably, up from 34% in June. Ninety-three percent of Democrats hold a favorable opinion of Harris, while 41% of independents and 5% of Republicans said the same, according to the survey conducted Aug. 1-20 in the leadup to the Democratic convention. Gallup also tracked President Biden’s job approval rating, which increased to 43%, and Donald Trump’s favorability rating, which dipped to 41%.

Inside Harris’ friendship with Laurene Powell Jobs

Harris has a close personal friendship with billionaire Laurene Powell Jobs, which Semafor’s Ben Smith reports dates back more than a decade when Powell Jobs hosted a fundraiser for Harris’ run for California attorney general. Harris supported Powell Jobs when her husband, Steve Jobs, passed away in 2011 and Powell Jobs even brought Harris along with her to an interview she was nervous about in 2017. As for her reaction to Harris becoming the nominee? Powell Jobs is “overjoyed,” one San Francisco donor said. Their friendship offers a “glimpse at how Harris got here, at the kind of politics she’s expertly navigated, and at the world of vast California wealth and power,” Ben writes. No word on whether Powell Jobs will cut any big checks for a Harris super PAC, though.

Canada orders end to rail shutdown

The Canadian government ordered arbitration to resolve a labor dispute that shut down the country’s two largest railways. Canada’s labor minister, Steven MacKinnon, estimated Canadian National and CPKC would restart operations in days. “It is the government’s responsibility to ensure industrial peace,” he said, noting that negotiations stood “very little prospect” of succeeding on their own. The shutdown, which sidelined more than 2,500 railcars that cross the US border daily, sparked worries about supply chain shocks in the US, especially of grains and other agricultural goods as well as automobiles. US officials, including Transportation Secretary Pete Buttigieg, were in touch with Canadian officials as the events unfolded. An administration official told Semafor officials were working with industry to “assess and mitigate impacts” for consumers, businesses and workers amid the shutdown.

Can Kamala Keep It Up? Ben and Nayeema tape from the Democratic National Convention, breaking down the positive vibes, rise of the credentialed TikTok creator, and what Trump is up to on the outside of this bubble. Tommy Vietor joins them to discuss what sway he and his fellow Pod Save America hosts have with Obama, why the DNC is tuning out Gaza protesters, and whether the party’s newfound unity around Kamala Harris can last through November 5. Finally, fresh off a GQ photoshoot, Max joins the podcast to talk style and the viability of a Chick-fil-A streaming service.

Catch up with the latest episode of Mixed Signals.

Global rate paths differ

Speeches by major central bank chiefs today are set to highlight a growing divergence in rich-world monetary policy. A much-anticipated address by the chair of the US Federal Reserve and upcoming remarks by the head of the Bank of England at a central-banker confab are expected to confirm the US and UK will cut rates this year, while a European Central Bank policymaker earlier suggested it would do the same. The Bank of Japan’s chief, meanwhile, told lawmakers that it would likely continue tightening monetary policy, eroding an interest-rate differential with its transatlantic counterparts that had underpinned a years-long trade in which investors bet against the yen.

The Biden success Harris ignored

Harris’ otherwise wide-ranging acceptance speech skipped arguably the crowning achievement of Joe Biden’s presidency, Semafor’s Tim McDonnell notes. Her fleeting reference to climate change and clean energy jobs capped a convention that has been eerily quiet on the Inflation Reduction Act and the domestic manufacturing renaissance it has spurred. Climate is a third rail for the Harris campaign, with little upside to talking about it when trying to win critical gas-producing states like Pennsylvania. Whereas Biden explicitly made fighting climate change a signature issue, Harris seems more comfortable to let it play out in the background. The campaign’s strategy seems to be to minimize mentions of climate catastrophe; speak vaguely of IRA-related job growth; and let surrogates do the talking.

Harris’ economic agenda takes shape

Harris’ initial economic vision overlaps with the Biden agenda, offering Donald Trump an opportunity to assail her plans by tying her to the current president and his relative unpopularity. Former Biden aides told Semafor’s Joseph Zeballos-Roig that a Harris presidency would likely build on Biden’s platform while retooling it in relatively narrow areas. “It’s not a time to do super-surprising new things,” one ex-official said. In addition to going after price gouging and endorsing a sizable $6,000 child tax credit, Harris may also back Medicare expansion, childcare subsidies, 12 weeks of paid family leave, and a $15 minimum wage, Joseph writes.

China evades US chip curbs

Chinese firms are stockpiling chip making equipment and building out semiconductor supply chains to guard against further US curbs. The country imported a record $26 billion worth of such machinery, while ASML — a Dutch firm that makes the world’s most advanced chip lithography devices — reported surging sales to China. A Washington-based semiconductor trade association, meanwhile, warned that Chinese tech giant Huawei was building a secret set of chip making facilities to evade US sanctions, according to Bloomberg. Semiconductors have emerged as a key issue in the US-China rivalry, with Washington enlisting allies to restrict Beijing’s access to the most advanced chip technology: A think tank said this week China lags the sector’s global leaders by about five years.

Beltway Newsletters

Punchbowl News: Senate Majority Leader Chuck Schumer has raised $10 million for Democrats across 16 states this election cycle.

Axios: Vice President Harris’ speech was calculated to address her key vulnerabilities: crime, national security and immigration, while the convention focused all week on positioning Democrats as the party of freedom and patriotism.

WaPo: Harris’ convention address capped a week of appeals to the political middle at the Democratic convention.

White House

• The White House criticized Donald Trump for attacking Pennsylvania Gov. Josh Shapiro as the “highly overrated Jewish Governor” of Pennsylvania. “It is antisemitic, dangerous, and hurtful to attack a fellow American by calling out their Jewish faith in a derogatory way, or perpetuating the centuries-old smear of ‘dual loyalty,’” White House principal deputy communications director Herbie Ziskend said, without explicitly mentioning Trump or the attack.
• National security adviser Jake Sullivan will visit China next week to meet with Foreign Minister Wang Yi to lay the groundwork for a potential meeting between President Biden and Xi Jinping — Axios
• Democrats are already speculating about who could fill roles in a Harris administration. Pete Buttigieg has been mentioned as a potential US ambassador to the United Nations, Eric Holder as a potential White House chief of staff, and Rahm Emanuel as a potential Commerce secretary. — WSJ

Congress

• Former Wisconsin GOP Rep. Mike Gallagher is now working for Palantir.
• Senate Minority Leader Mitch McConnell said the presidential election would be “very, very competitive” and didn’t answer when asked who he thought would win.
• Voting rights legislation will be a top priority for Democrats should they win both chambers of Congress in November, Senate Majority Leader Chuck Schumer said. — WaPo
• The House task force investigating the attempted assassination of Donald Trump will hold its first field hearing on Monday. — Axios

Economy

US home sales rose in July after four months of declines. Meanwhile, mortgage rates dropped to their lowest point this year.

Courts

The Supreme Court partially sided with a request from the RNC and allowed Arizona to enforce part of a voting law that requires people to show proof of US citizenship to vote.

Polls

Vice President Harris leads Donald Trump among likely Hispanic voters in Arizona, according to a new poll, but more than one-third of the Hispanic vote is still up for grabs. — Politico

On the Trail

• Donald Trump told Fox News Vice President Harris isn’t gaining in recent polls, even though she is. “She’s not having success. I’m having success,” Trump said in an interview immediately after Harris accepted the Democratic nomination. “I’m doing great with the Hispanic voters. I’m doing great with Black men. I’m doing great with women because women want safety.”
• Donald Trump Jr. and Tucker Carlson have been working behind the scenes to convince Robert F. Kennedy Jr. to drop out of the presidential race and endorse Donald Trump. — NBC
• Trump claimed he turned down intelligence briefings “because as soon as I get that, they’ll say that I leaked it.” — Daily Mail
• Trump and Georgia Gov. Brian Kemp appear to be trying to put their feud behind them ahead of the election.
• Vice President Harris already has more donors than President Biden did during the entirety of his reelection campaign. — Politico

Foreign Policy

• Israeli demands for troops in Gaza and over Palestinian prisoner releases are blocking a ceasefire deal. — Reuters
• Taiwan foreign policy officials quietly traveled to Washington for talks with Biden administration officials through a “special channel.” — FT
• The Dalai Lama met with US officials in New York, drawing rebuke from China.
• Russian attitudes toward President Vladimir Putin may be growing more negative, according to an analysis of social media posts in the wake of Ukraine’s surprise incursion into Russia. — NYT

Health

The FDA approved updated COVID-19 vaccines from Pfizer and Moderna.

Technology

• Chinese government-linked entities are using cloud services provided by Amazon or its competitors to access advanced US chips and artificial intelligence technology. — Reuters
• Apple will let iPhone users in the European Union delete Safari and other native apps in a bid to assuage antitrust regulators on the continent.

Media

Russia’s FSB opened a criminal probe into a CNN reporter and two Ukrainian reporters it claimed illegally entered Russia while reporting on Ukraine’s incursion.

Blindspot

Stories that are being largely ignored by either left-leaning or right-leaning outlets, curated with help from our partners at Ground News.

What the Left isn’t reading: Donald Trump said he would be “honored” to have Robert F. Kennedy Jr.’s endorsement.

What the Right isn’t reading: Montana is the eighth state to put abortion rights on the ballot in November.

Principals Team

Editors: Benjy Sarlin, Morgan Chalfant

Reporters: Kadia Goba, Joseph Zeballos-Roig, Shelby Talcott, David Weigel

Nikema Williams is a Democratic congresswoman from Georgia.