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Hubertus Bardt / Galina Kolev IW-Policy Paper No. 16 17. August 2020 Biden Versus Trump: Positions in Trade, Economic and Climate Policy

The American elections in November 2020 will be of great importance not only to the US itself, but also to Europe and Germany. While transatlantic cooperation has suffered under the current administration, a change of government has the chance for a new beginning.

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Positions in Trade, Economic and Climate Policy
Hubertus Bardt / Galina Kolev IW-Policy Paper No. 16 17. August 2020

Biden Versus Trump: Positions in Trade, Economic and Climate Policy

IW-Policy Paper

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The American elections in November 2020 will be of great importance not only to the US itself, but also to Europe and Germany. While transatlantic cooperation has suffered under the current administration, a change of government has the chance for a new beginning.


 In economic policy, the two presidential candidates differ fundamentally. Particularly, in climate and trade policy, concrete effects are to be expected, which are of great importance to Europe. With regard to climate policy, a President Biden has announced to return to the Paris climate agreement. Tighter regulations would also be expected in domestic climate policy. However, it is unlikely that emissions will be priced at a level that could harmonize the conditions of competition. Emissions trading or other pricing instruments do not appear in the programme of Biden or his party. In trade policy, too, a new government would bring changes, although the Democrats' platform is strongly protectionist. The trade conflict with China would remain critical, but the approach towards Europe could become more cooperative. Further opportunities exist in securing the multilateral trade order, as the willingness to cooperate and to bind rules is greater than with the current government.

 

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Positions in Trade, Economic and Climate Policy
Hubertus Bardt / Galina Kolev IW-Policy Paper No. 16 17. August 2020

Hubertus Bardt / Galina Kolev: Biden versus Trump – Positionen in der Handels-, Wirtschafts- und Klimapolitik

IW-Policy Paper

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