The Next President and the Tradeoffs in U.S. Economic Policy
How to Grapple With “the New Washington Consensus”
It is clear that in Washington these days, global integration and trade liberalization are largely out, and tariffs, export controls, and investment restrictions are here to stay. But although policymakers from both parties have embraced the use of these economic tools, Democrats and Republicans have very different visions for economic policymaking. Donald Trump, for instance, has proposed levying a 20 percent tariff on all imports—a figure that many economists estimate would cost Americans thousands of dollars a year in higher prices for consumer goods.
“Every policy comes with a price,” writes former U.S. Trade Representative and Council on Foreign Relations President Michael Froman in a new essay for Foreign Affairs. The next administration must develop a more systematic approach to using these tools of economic statecraft: “Understanding their limitations, developing principles to guide their use, and grappling fully with the tradeoffs they involve.”
Global Macro and Emerging Market Strategy and Economics
1 个月I offer my take on the proposals of the two candidates on international trade. https://www.brianvmullaney.com/election-2024-what-theyre-not-telling-us-2/
Managing Director
1 个月Forging a progressive future - starting with 'preventive healthcare for all' we connect the dynamics of economics, technology and science with our progressive ‘Build, Operate and Share (BOS) Model to establish sustainable projects and a 'resilient economic system', constantly improving with time. www.valerehealthcare.co
Retired Deputy Secretary from Cabinet secretariat Government of India
1 个月However, the US needs to make efforts towards peace in the Middle East in order to achieve its goals on the above mentioned policy. Further, the ongoing geo-politics in the Middle East clearly indicates the dual standard of ideology of the US and Europe on Russia -Ukrain war as well as peace in Gaza(Palestine )and Lebanon.