Trump campaign looks to small victories on trade to win the farmer vote

20th October 2020

“A lot of these are activities that people have been pushing in the past or for a long time are now being touted in the context of the election,” Willems said. The U.S. has been involved in lobster negotiations with Europe since 2018 when former European Commission President Jean-Claude Juncker met with Trump at the […]

Read More

Why Trump lost his battle against the trade deficit

19th October 2020

The monthly deficit in U.S. goods trade with all other countries set a record high in August at more than $83 billion. Trump has blamed the trade deficit on bad trade deals negotiated by his predecessors and unfair trade practices by other countries, but most economists disagree with that explanation. “We have almost an $800 […]

Read More

Federal deficit triples to $3.1T, Treasury data shows

18th October 2020

Those same experts argue that more fiscal stimulus is desperately needed, but the prospects of passing another aid package before Election Day are bleak. Congressional leaders and the White House have been at total loggerheads for months, with little progress made on some of the most contentious issues, like funding for state and local governments. […]

Read More

How the Pandemic Is Worsening America’s Racial Gaps

17th October 2020

There’s been ongoing wrangling between House Speaker Nancy Pelosi, Treasury Secretary Steve Mnuchin and Senate Republicans over a second round of stimulus payments — which have not materialized. Do you know what effect the first round of stimulus checks had, especially on Black and Latino households? And what has been the impact of there not […]

Read More

‘Trump just kicked over the chess board’: GOP faces an election with more pain

16th October 2020

Now, millions of struggling voters — including in key swing states — will probably not see any more enhanced unemployment benefits or direct stimulus checks before the election. Layoffs, especially in the airline industry, could continue to mount. And some of the remaining 40 percent of small businesses that initially closed during Covid-19 lockdowns but […]

Read More

‘We need to step forward’: Fed leaders call for new focus on race in the economy

15th October 2020

The comments from the leading Fed officials were the latest evidence of the central bank’s growing attention to persistent inequality in the economy — a gap that appears to be widening during the coronavirus pandemic. Black and Hispanic workers have been hit harder by the economic fallout from the Covid-19 lockdown than white workers. The […]

Read More

Trump stock market soars — and wealthy reap gains

14th October 2020

Bill Kuchman/POLITICO Illustration President Donald Trump regularly promotes the soaring stock market as a barometer of the economy’s health. But the wealthiest 1 percent of Americans own 50 percent of the value of stocks held by individual households — and investors aren’t sharing the wealth. POLITICO’s Victoria Guida explains how this gap is fueling an […]

Read More

Hard-hit small businesses face long winter without lifeline

13th October 2020

The struggle to reach a deal to revive the paycheck program just weeks before the election is all the more surprising because it’s one of the few issues that has had strong bipartisan support throughout the pandemic. Lawmakers overwhelmingly backed the program, which provided $525 billion to more than 5 million businesses, and employers embraced […]

Read More

Trump is fuzzy on tax policy as Biden goes all in

27th September 2020

“Tax increases are a lot less popular than tax cuts, and yet the candidate who’s looking to increase taxes by $3.5 trillion is the one putting out the specifics,” said Brian Riedl, a former Senate Republican tax aide. It’s a notable contrast in an unusual presidential campaign. Though Trump presided over the biggest overhaul of […]

Read More

Opinion | 2020 is the Year Trump Was Worried About

26th September 2020

That said, as POLITICO’s unofficial awesomeness correspondent, I regret to report that everything is no longer awesome. As you may have noticed, almost everything kind of sucks. The U.S. budget deficit tripled this year to $3.3 trillion, by far the highest ever. The U.S. economy shrank at a 31.7 percent annual rate in the second […]

Read More