The fallout of the presidential debate last week left me — as with many Americans — longing for other alternatives. When it comes to this November, I will be focused on a few key topics: namely, each candidates stance on the economy, small business, global trade, and the impact of each to the an already constrained global supply chain.
Here’s a summary of the policies:
| Candidate | Economic Policy | Small Businesses | Global Trade | Impact on Global Supply Chain |
|---|---|---|---|---|
| Joe Biden | – Job creation, infrastructure investment, strengthening the middle class – Increase federal minimum wage to $15/hr – Expand affordable housing (Ballotpedia) (AllSides) | – Tax incentives – Increased access to capital – Regulatory reforms to reduce bureaucracy (AllSides) | – Rebuild alliances – Ensure fair trade agreements – Strategic use of tariffs to protect industries, especially against China (Oxford Economics) | – More stable trade relations – Gradual shifts in supply chain dependencies, especially in critical sectors like semiconductors and clean energy (Oxford Economics) |
| Donald Trump | – Tax cuts, deregulation, domestic energy production – Make 2017 Tax Cuts and Jobs Act permanent (AllSides) | – Reduce taxes and regulations – Foster a conducive environment for growth – Paycheck Protection Program for COVID-19 relief (AllSides) | – Protectionist stance – Use of tariffs to protect American industries and reduce trade deficits – Renegotiate trade deals to prioritize American interests (Oxford Economics) | – Potential disruption of existing supply chains – Higher costs for imported goods – Incentives for domestic production in certain industries (Oxford Economics) |
| Robert F. Kennedy Jr. | – Expand free childcare – Support workers’ rights – Raise minimum wage – Enhance labor protections (Ballotpedia) | – Provide incentives for entrepreneurship – Reduce barriers to entry – Support local economies and sustainable business practices (AllSides) | – Protect American jobs and industries – Promote environmental sustainability – Balance trade agreements with domestic economic and environmental goals (Ballotpedia) | – Encouragement of greener supply chains – Potential increase in regulatory compliance costs for businesses (Oxford Economics) |
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