The race between Trump and Harris is not just a political battle but also a significant economic event with global ramifications, especially for countries like Germany that heavily depend on trade with the U.S.
The discourse around insulin prices reflects broader themes of healthcare access and economic inequality, particularly affecting vulnerable communities such as Latinos in the U.S.
If Trump wins the presidency, expect a shift towards more protectionist policies that could lead to retaliatory measures from the EU, resulting in a potential trade war.
A continued focus on health care issues, particularly insulin pricing, could play a crucial role in mobilizing voters, particularly within the Latino community, influencing the election outcome.
As the U.S. presidential election approaches, the race between Donald Trump and Kamala Harris has significant implications not only for American politics but also for global economies, particularly Germany. Recent polling indicates a tightening race, with Trump gaining momentum in key swing states, raising concerns about potential shifts in U.S. economic policy that could reverberate internationally. Experts have highlighted a potential Trump victory could lead to increased tariffs on imports, which may cost Germany billions in GDP losses over a four-year term. A study from the German Economic Institute (IW) suggests that if Trump implements a tariff increase of 10% to 20%, Germany could face losses exceeding 127 billion euros, or even 180 billion euros in a full-blown trade war scenario. This increase in protectionism is seen as detrimental to Germany’s export-driven economy, emphasizing the interconnectedness of U.S. and European markets.
Vice President Harris has been vocal about health care issues, particularly concerning insulin costs, which are critical for the Latino community in the U.S. She has warned that a Trump administration could threaten the cap on insulin prices, currently set at $35 a month for seniors. While there is no explicit evidence that Trump plans to remove this cap, health experts express concern that Republican leadership could push for its repeal, especially given the party's stance against the Inflation Reduction Act. Harris's campaign emphasizes the importance of maintaining affordable insulin access, highlighting the broader implications for public health and economic disparities within minority communities.
- The potential economic fallout from a Trump presidency extends beyond tariffs and trade wars; it also encompasses health care policies that could affect millions of Americans, particularly those reliant on affordable medications like insulin.
