Financial adviser Bryan Kuderna and International Center for Law & Economics chief economist Brian Albrecht expressed concerns regarding Vice President Kamala Harris’ economic policy in an interview with Fox News Digital. With the economy a central issue for voters, the finance experts highlighted Harris’ perceived lack of discussion on international economic theories, particularly tariffs and dealing with China. Kuderna, author of “What Should I Do With My Money?” pointed out that Harris has been notably quiet on her stance related to international economic strategies and how they compare to China, emphasizing that this silence could be a potential concern.
Vice President Harris has prioritized her economic platform on domestic issues, proposing credits and incentives to support American families, alongside advocating for the wealthy to pay their fair share in taxes. However, Kuderna warned that if Harris were elected and her economic strategy implemented, it might leave the U.S. vulnerable on the global stage. He emphasized that focusing solely on domestic issues might allow China to gain greater economic dominance, potentially impacting America’s global standing.
Don Luskin, TrendMacro’s chief investment officer, provided analysis following criticism from Jamie Dimon about the economy under the Biden-Harris administration. Meanwhile, Brian Albrecht acknowledged concerns about Harris’ lack of a concrete plan addressing tariffs, international trade, and immigration. Harris faces the challenge of defending an administration that maintained many Trump-era tariffs, despite having criticized her opponent’s tariff proposals, accusing him during an ABC News Presidential Debate of “selling us out.”
Both Kuderna and Albrecht indicated that Harris is likely to continue Biden’s approach to foreign trade relations. In contrast, former President Trump’s economic agenda focused on competing against China, reducing domestic taxes, and cutting regulations. Kuderna described Trump’s vision as reducing government interference to let Americans and their corporations thrive while managing international relations and potential threats such as China and geopolitical issues in regions like the Middle East and Ukraine.
The Tax Foundation outlined Trump’s plan for imposing universal tariffs on U.S. imports, increasing Section 301 tariffs on China, and implementing a foreign retaliation tariff. Albrecht warned that while these tariffs are designed to protect U.S. manufacturing, they could ultimately harm consumers and the manufacturing sector. He argued that the economic impact of Trump’s tariff strategy could significantly disrupt international trade.
The potential for Trump’s tariffs to generate significant tax revenue remains uncertain, with projections from the Committee for a Responsible Federal Budget suggesting it could range from $2 trillion to $4.3 trillion over a decade. However, Kuderna expressed skepticism about whether international tariffs could offset domestic tax revenue losses or if they would simply contribute to the national debt.
Both Harris and Trump’s proposed economic plans are likely to increase the U.S. national debt substantially. The CRFB estimated Trump’s plan could add roughly $8 trillion to the debt by 2035, compared to $4 trillion under Harris. Despite agreement on the importance of economic issues, national polls show Trump with a slight lead over Harris in voter support on economic matters.
Fox Business’ Kayla Bailey and Eric Revell, along with Fox News’ Anders Hagstrom, contributed to this report.