Media

Key Takeaways

• Trade and Investment: Harris and Trump both aim to protect U.S. domestic industry and constrain China’s technological advancement, but Trump is much more enthusiastic about applying new tariffs on China. Regarding technology denial, Trump would try to accrue negotiating leverage through transactional, unilateral, and entity-based approaches to controls on exports and foreign investment. Harris would likely maintain her predecessor’s “whole-of-government,” item-based, and multilateral strategy.
• Diplomacy and Cooperation: Harris and Trump diverge in their approaches to bilateral and multilateral engagement, including alliances. Harris will prioritize coalition-building and is likely to favor maintaining dialogue and guardrails with China. Trump is inclined to make the U.S. trade deficit and accusations of “free-riding” a focal point of diplomacy and will advocate for an aggressive, “peace through strength” China strategy.
• Sector-Specific Issues: Less predictably, both campaigns have somewhat different approaches to pharmaceuticals, critical minerals, energy, anti-trust policy, and other issues, which will be shaped by Congressional, executive agency, and state-level politics.