In an interview with Fox News Digital, financial adviser Bryan Kuderna and Brian Albrecht, Chief Economist at the International Center for Law & Economics, expressed concerns about Vice President Kamala Harris’ economic policy. With the economy being a critical issue for voters, Kuderna highlighted the potential risks associated with Harris’ limited discussion on international economic theory. He pointed out a “potential red flag” in Harris’ lack of discourse on tariffs and dealing with China. According to Kuderna, Harris has been notably quiet on international economic strategies, including tariff policies and navigating relations with China.
Vice President Harris has primarily focused her economic policy on domestic matters, proposing credits and incentives for American families and advocating for the wealthy to pay more taxes. However, Kuderna warned that if Harris’ policies are implemented, they could leave the U.S. exposed on the global stage. He emphasized the potential consequences of neglecting international economic competition, particularly with China.
Brian Albrecht noted the absence of a concrete plan from Harris on tariffs, international trade, and immigration, stating that she faces the challenge of defending an administration that has retained many Trump-era tariffs. While Harris has criticized her opponents’ tariff proposals, she has distanced herself from tariffs, suggesting a continuation of the Biden administration’s foreign trade approach with nations like China.
In contrast, former President Donald Trump’s economic agenda focuses heavily on international competition, especially against China, while advocating for reduced domestic taxes and regulations. Kuderna described Trump’s approach as one that fosters domestic autonomy while actively engaging on the global stage to counter China’s influence and address tensions in regions like the Middle East and Eastern Europe.
The Tax Foundation highlighted Trump’s plan to impose a universal 20% tariff on U.S. imports, increase Section 301 tariffs on China to 60%, and apply a 10% foreign retaliation tariff on U.S. exports to China. Albrecht expressed concern over Trump’s increased reliance on tariffs, arguing that it ultimately burdens consumers and negatively impacts U.S. manufacturing.
Albrecht also criticized Trump’s economic strategy, stating that it lacks feasibility due to limited imported goods compared to overall income, potentially hindering international trade. Although it’s uncertain whether Trump’s tariffs will be implemented or used as leverage, the Committee for a Responsible Federal Budget estimated that they could generate $2 trillion to $4.3 trillion in tax revenue over a decade.
Both Harris and Trump’s economic plans are projected to significantly increase the U.S. national debt. The Committee for a Responsible Federal Budget calculated that Trump’s plan might add approximately $8 trillion to the debt by 2035, whereas Harris’ plan could add roughly $4 trillion. Despite both candidates acknowledging the importance of economic issues, national polls show Trump holding a slight lead over Harris in terms of economic support. According to a recent Reuters/Ipsos survey, Trump has 45% support on the economy, compared to Harris’ 40%.
Brian Albrecht remarked that while there is widespread agreement on the economy’s importance, differences persist regarding practical applications and future strategies.
