How do the economic policy agendas of U.S. Vice President Kamala Harris and former President Donald Trump compare? Given the increasing importance of tariffs and competition with China in U.S. foreign policy, the differences between the two leading contenders for the White House matter not just for American voters but for the entire world.
Adam Posen is the president of the nonpartisan Peterson Institute for International Economics. He joined FP’s Ravi Agrawal to discuss how the next president of the United States will impact the global economy.
Video clips from this event
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Economist Adam Posen explains the “meaningful difference” between the Trump and Harris campaigns’ migration policies, arguing that the Trump plan to deport 1.3 million migrants would spike inflation and shrink output.
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Trump wants a weaker dollar; Harris has not indicated that she does. But Posen makes the case that many of Trump’s policies would actually strengthen the dollar, so to reach his goal, he might need to enact some “crazy, destructive policies.”
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Posen, who sees very little daylight between the two parties on China, worries economic hawkishness will create some “very self-defeating policies.”
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Posen grades the Trump team on macroeconomic policy: “I would give them a failing grade … they fundamentally don’t understand [macroeconomics].”
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Posen grades the Harris team on economic policy: “They’ve been [a] C-minus [on macroeconomics]. … [They get] the same failing grade as Trump on tax and trade.”
