2024-09-25 23:55:08
Politics
Economy
Business

Trump's Bold Industrial Policy and Its Global Impact

Image courtesy of : AFP (CHANDAN KHANNA)

Donald Trump has announced an aggressive industrial policy aimed at boosting American manufacturing, potentially at the expense of international trade partners like Germany. He plans to lure companies back to the U.S. by offering low taxes, minimal regulation, and cheap energy in special economic zones, provided they produce domestically. If they don't, they face steep tariffs on imported goods.

During a campaign event in Georgia, Trump criticized countries like Germany for 'stealing' American jobs and promised to reclaim them. He also took a swipe at Germany's energy policies, inaccurately suggesting that the country is turning back to coal under new leadership, whereas it had phased out fossil fuels under former Chancellor Merkel.

Trump's proposals aren't without controversy. Economists and industry experts warn that his high-tariff approach could backfire, harming domestic production and leading to trade wars. His plan includes up to 200% tariffs and a corporate tax rate of 15% for U.S. manufacturers, which some argue could be more rhetoric than feasible policy.

Meanwhile, Democratic candidate Kamala Harris has taken a different stance, focusing on pragmatic economic policies. She promises to strengthen domestic manufacturing, cut red tape, and support the middle class with tax cuts for families and small businesses. Harris has criticized Trump for favoring the wealthy and losing American factory jobs during his first term. She aims to build on policies from President Biden to create a stable business environment.

As the race to the White House heats up, both candidates are delivering contrasting economic visions, highlighting their differing approaches to taxation, manufacturing, and trade. With polls showing a tight race, the economy remains a central issue for voters in key swing states.

New York Times - Economy
26. September 2024 um 15:08

Trump’s Low-Tax, High-Tariff Strategy Could Clash With Economic Realities

Economy
Politics
Trump's "new American industrialism" plan features low-tax zones, 15% corporate rate for US production, and up to 200% tariffs. But this vision conflicts with economic facts - manufacturing jobs were flat then declined under Trump, the Alliance called his promises "mostly rhetoric", and Americans are increasingly wary of foreign investment, especially from Asia.
Inc.com
25. September 2024 um 16:25

Dueling Speeches Highlight Candidates' Economic Differences

Politics
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Kamala Harris and Donald Trump deliver dueling economic speeches, with Harris emphasizing pragmatism and domestic manufacturing, and Trump pushing populist policies like tariffs and interest rate caps. Both candidates aim to counter criticism and appeal to voters concerned about the economy. Harris plans to cut red tape, while Trump proposes protecting jobs and limiting credit card rates. The candidates clash on tax policies, with Harris seeking to raise corporate taxes and Trump wanting to pr..
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27. September 2024 um 16:50

Donald Trump's shocking new proposal is a gut punch to the auto industry TheStreet Daily Newsletter

Politics
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The 2024 election features Kamala Harris (D) vs. Donald Trump (R). Trump wants tariffs on foreign cars to revive U.S. auto, but this clashes with the USMCA's 75% North American parts rule, up from 62.5% under NAFTA. The Council warns tariffs would harm domestic output. Trump also threatened John Deere over Mexico production plans.
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