Economic issues take the stage during the presidential debate
Economic issues take the stage during the presidential debate
Former President Donald Trump and Vice President Kamala Harris participated in their first, and potentially only, presidential debate on Tuesday night. Among the most contentious issues were their respective economic records and plans for the next four years. Though the debate itself may not have moved markets, the two sparred over various economic issues, including tariffs and inflation.
Marketplace’s Nancy Marshall-Genzer joined host Nova Safo to help sort it all out. The following is an edited transcript of their conversation.
Nova Safo: So Vice President Harris was asked a key question: If Americans are better off now than they were four years ago. How did she respond?
Nancy Marshall-Genzer: Right. She said she has a plan to “lift up” the middle class. Then, she pivoted to Trump’s proposed tariffs, which she called a tax.
Kamala Harris: My opponent has a plan that I call the “Trump sales tax,” which would be a 20% tax on everyday goods that you rely on to get through the month.
Marshall-Genzer: Trump said it was “incorrect” to call the tariffs a sales tax. And he once again claimed — falsely — that foreign governments would pay the tariffs. They are paid by U.S. importers, who then typically pass that cost on to consumers. Later, when he was asked about climate change, Trump said that he would use tariffs to discourage China from making cars in Mexico to evade U.S. tariffs.
Donald Trump: We will put tariffs on those cars so they can’t come into our country because they will kill the United Auto Workers and any auto worker.
Safo: Trump and Harris also clashed on healthcare, specifically the Affordable Care Act (also known as Obamacare). What were the competing views there?
Marshall-Genzer: Right. Harris recalled how Republicans were just a single vote away from repealing Obamacare in 2017.
Harris: And we, over the last four years, have strengthened the Affordable Care Act. We have allowed for the first time Medicare to negotiate drug prices.
Marshall-Genzer: Trump says he doesn’t have a plan for replacing Obamacare.
Trump: I have concepts of a plan. I’m not president right now. But if we come up with something — I would only change it if we come up with something that’s better and less expensive.
Marshall-Genzer: In her closing statement, Harris said she would create what she called an “opportunity economy.” Trump questioned why she hasn’t already done some of the things she’s talking about.
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