The 2024 US election stands as a crucial moment, not just for the United States but for the global stage. With the withdrawal of Joe Biden, an unexpected contest between Kamala Harris and Donald Trump will take place on November 5, and the outcome could have lasting consequences on international relations and the global economy, particularly for Switzerland.
Local dynamics, global consequences
This election hinges on local dynamics in just seven swing states, yet its outcome will resonate worldwide, influencing international trade relations. Kamala Harris, while seen as a candidate of continuity, does not guarantee stability in a world marked by growing geopolitical tensions and a rethinking of the global order.
Donald Trump, on the other hand, has adopted a more radical stance, proposing tariff increases of up to 60% on Chinese imports and 20% on goods from other countries. This protectionist policy could disrupt global supply chains, raise costs for American consumers, and intensify diplomatic tensions.
Economy at the heart of the campaign
Both candidates are tackling the issue of inflation, a top concern for voters. Kamala Harris has proposed measures to regulate "excessive" food prices and make housing more affordable, particularly for first-time buyers. Meanwhile, Donald Trump focuses on energy production and tax cuts as part of his plan to lower the cost of living. However, both platforms are expected to exacerbate the already record federal budget deficit, projected to exceed 6% of GDP over the next decade.
Trump’s protectionist trade policy, particularly his proposed tariff hikes, could severely impact global trade flows, creating uncertainty for Swiss businesses reliant on open international markets. While Harris’ approach appears more moderate, she will face significant geopolitical pressures and the challenge of reforming the global order.
What are the implications for Switzerland?
Swiss companies, deeply integrated into the global economy, must prepare for potential disruptions that could arise from this election. Should Donald Trump return to the White House, his aggressive trade policies could shift the global landscape, with Europe and Switzerland directly affected.
To better understand the implications of this historic election and how to navigate the potential risks and opportunities for your business, join our Livestream on October 31, 2024. Our experts will provide in-depth analysis on how this election could impact global trade and economic policies.
📅 Date: October 31, 2024
🕒 Time: 16:30
📍 Registration:https://www.linkedin.com/events/trump-harris-comebackorfirstfem7250440711576141824/
