The Indicator from Planet Money - What Is Trumponomics?

Danielle Kurtzleben from NPR's Washington Desk breaks down Donald Trump's economic policies and plans for a second term.

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Everyone before we start today show. I just want to let you know that the indicator is hiring for its next intern. So if you're interested in applying, please go to npr.org internships and find the application there. Thanks so much NPR

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Everyone is Cardiff. This is the indicator from planet money. And I'm joined. Once again is that was in the previous episode by Daniel Kurtz Laban reporter on NPR politics team and he'll welcome back you again. Hi. I know right. There's a reason that we're doing a double header with you, which is it. The last time we talked about Joe Biden's proposed economic policies. And today we're going to talk about the President Donald Trump's proposed Economic Policy what he might do in a second term and I know you're Jazz to talk about this because even though you're a politics reporter, you're more of a policy freak is the way I think about it. I'll take that as a compliment. Yeah, that sounds about right as a compliment.

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Give me the horse race. You know what I mean? Like I actually worried that if you went to an actual horse race, you would like shoot the horses cuz you hate the metaphor so much.

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Fridge Danielle takes us through Donald Trump's economic policy. Agenda. We pick three parts and we think are especially important right after a quick break.

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I was saying that if we sang.

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00:02:05
Okay, Daniel Curtis Lee. I've been NPR politics reporter. We need to start with pandemic policy because we covered Joe Biden's pandemic policy and you made the point recently dependency policy is economic policy. So what is Donald Trump's proposed pandemic policy going into a second term meaning the virus don't Trump on the other hand is very much focused on vaccines and treatments for the virus. So he has said that he wants to begin distribution of a covid-19 vaccine by the end of this year and a number he has put out there is to have 300 million doses available by January 20-21 now that is a lofty goal. And of course, it is very dependent on whether pharmaceutical companies scientists are able to come up with test and approve a vaccine and then produce it on that scale hunt.

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End of millions of doses. So this is the thing he wants but it is not entirely under his power and then you know, he's been kind of DM for sizing the role of the Federal Government when it comes to containing the virus right and leaving it more to state governments. Donald Trump has very much been focused on States. No best Governors and state legislatures know best what they should be doing to control the virus in their states. I'm washing tonight. I don't know what you need in Nebraska. So the Nebraska governor, for example, hypothetically should be the person to be calling some of these shots.

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So he has been very much attacking Joe Biden some other Democrats willingness to say look someplace has some businesses some schools might have to close down to contain the virus. Donald Trump has taken a very you've got to live your lives. We have to have the economy open sort of approach. That's the rhetoric. He's been using great. Let's go on to the second part of the President Trump economic agenda that which is about jobs creation as a big policy goal, especially in the next year what's going on there of 10 million jobs in 10 months. So if you can imagine 10 straight jobs days of a million jobs a piece or something that I've reached out to that. Let's do it. By the way. We are down by roughly 10 million jobs from where we were pretty pandemic. So what are you saying is in 10 months get back to normal, but the question is how this is a lovely idea, but it's not entirely clear.

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How we would get there. Now one thing he has said if he wants to offer tax credits to manufacturing companies that bring jobs back from China, but that would not get us anywhere near 10 million. Now in addition. I reached out to the White House to ask. Okay, what else is on the docket and a spokesman got back to me and he largely pointed to pass policies saying for example, lower taxes deregulation trade policies and the relief package is already past laid good groundwork for future growth to happen. So in other words before the pandemic the economy was going great and I did that. So I think I can just get us back there again is a line of logic that he is often using now. There are a lot of flies to that logic a lot of questions that raises for example, should the president get full credit for that. I'm arguably no but yes, he has a very big lofty goal here, but not a clear map to get to that goal.

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Interesting here though because the president is Administration is campaign have talked a lot about lower taxes tax credits tax policy, but he did sign into law a multitrillion-dollar cares act. He has been negotiating with Democrats in the House of Representatives over a multitrillion-dollar new stimulus package and it's actually the Republicans in the Senate who would have said that they don't want to spend that much more money, but the president himself has said that he would be willing to do a big deal. He would be willing to spend money. Yes, that's true. And when you look at the different numbers without their between Senate Republicans the White House and house Democrats, there is a lot of daylight and even then even if it were just the White House and house Democrats, there are also some gaps there in terms of what house Democrats want and what the White House doesn't want. But yeah you throw in all three of those parties and they haven't been able to reach a deal and you and I both know American people are very much hurting right now high on.

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Appointment people still on unemployment and needing money to buy the basics. Let's go to the final part of the economic trade Wars trade Wars have been a big dominant part of President trumps rhetoric and of his actual agenda throughout his first term I suspect we would be seeing more of the same in the second term has said that he plans on continuing to use tariffs specifically against China in his second term as he has this term. And so the question is what exactly would that do and what would it induce because we did sign that trade deal with China in February the phase one trade deal thus far from the numbers we have China is not on track to meet the commitments at made to buying us Goods in areas like agriculture. For example, this was a deal that happened after both

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And the US and raised tariffs on each other and then in exchange for lowering some us tariffs China agreed to buy some u.s. Products. But so far it's not on paste actually buy as much of those products as it said it was going to but yeah, but on top of all of this there are complicating factors one is that Trump has very much been demonizing China when it comes to coronavirus. He keeps calling it The China virus and things to the effect of China needs to pay for its role in coronavirus spreading all over the world. So you can imagine how that might make trade talks in the future much tougher indeed. I would imagine exactly that I do want to add one more Point here on the top of China and it's that there has been brought agreement bipartisan agreement for a while that yes, China has been engaging in unfair Trade Practices in all sorts of ways. So Trump may have the diagnosis right that yeah. We need to do something about China's Trade Practices, but the question is

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Whether he has the solution The Cure right here in terms of tariffs.

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The temperature today in Decatur was produced by Darren Woods. In fact check by Sean Saldana our editors Patty Hearst and the indicator is a production of NPR.
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