Kamala Harris, Democratic presidential candidate and Vice President (left), and Donald Trump, Republican presidential candidate and former President (right)
Kamala Harris, the Democratic presidential candidate and Vice President of the United States, announced on the 25th (local time) that she would establish the ‘America Forward’ strategy to provide $100 billion (approximately 133 trillion won) in tax credits over 10 years to revive manufacturing industries such as steel and semiconductors.
In her economic policy speech delivered in Pittsburgh, Pennsylvania, a key battleground for the presidential election, Harris said, “America’s economic power comes from the power of industry,” and “I will provide tax credits to expand quality jobs in steel and manufacturing.” She continued, “America will never be sold out to competitors or enemies.” Pittsburgh is a city that symbolizes the American steel industry and is home to the headquarters of U.S. Steel, which Nippon Steel is attempting to acquire. There is analysis that Harris announced her related pledges in Pittsburgh to emphasize her will to foster manufacturing. In her 83-page economic policy pledge booklet released that day, Harris stated, “The ‘America Forward’ tax credit aims to create jobs and invest in key strategic industries,” and “It will focus on emerging technologies such as steel, bio, artificial intelligence (AI), quantum computing, aerospace, semiconductors, and clean energy.”
Republican presidential candidate and former President Donald Trump said on the same day at a campaign rally in Charlotte, North Carolina, another battleground state, that he would “restore manufacturing jobs by providing tax cuts for American companies and imposing tariffs on foreign products.” The day before, at a campaign rally in Savannah, Georgia, he presented a “new industrialist platform” that included plans to bring back manufacturing that had moved out of the U.S. by lowering corporate taxes and raising tariffs on imported goods. Regardless of who wins the November 5 election, there are predictions that the America First industrial policy will accelerate.
Washington = Correspondent Moon Byeong-gi weappon@donga.com
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