US Elections 2024: Trump Vs Harris Contest Hinges On Economy, Foreign Policy, Key Promises

The Donald Trump versus Kamala Harris contest, seen as one of the closest US presidential elections till date, is centered on an array of crucial issues ranging from economy, inflation, climate regulations and abortion rights to America's foreign policy outlook.

Both the candidates, who have made a spree of pre-poll promises, are ideologically at loggerheads on most of the issues that dominate the race to the White House. This makes the election even more significant as its outcome may determine the country's trajectory for the years to come.

The visions outlined by Trump and Harris have also drawn a fair share of skepticism, as analysts doubt if they would be able to implement them without control of the US Congress.

Here's a look at what sets Trump and Harris apart on economy and foreign policy, and what are the major electoral promises made by the two leaders.

• Taxes

Harris aims to increase taxes on American households earning over $400,000 a year, but has pledged not to increase the rates for those earning below the threshold.

Trump has promised to continue most of the tax cuts that were announced during his erstwhile presidency in 2017, and further reduce the corporate tax rate to 15% from 21%. He also plans to exempt restaurant tips and social security benefits from taxation.

• Inflation

Harris' plan to combat inflation includes boosting aid for first-time house buyers and raising tax credits for parents.

Trump believes expanding oil and gas drilling to bring down energy costs will cool down the inflation. He is also vying for a say in the fixation of interest rates by the Federal Reserve.

• Trade

Harris has supported incumbent President Joe Biden's trade policy, that involves a mix of tariffs and export controls to boost domestic competitiveness.

Trump has vowed a blanket tariff in the range of 10-20% in general, and up to 60% on imports from China.

• Regulations

Harris has supported Biden's regulation measures, which included a crackdown on cryptocurrency companies and strengthening environmental mandates.

In comparison, Trump is a strong advocate for deregulation. He has proposed expansion of oil extraction, reducing government spending, and also wants to make the US the "crypto capital of the world".

• Ukraine

Harris has promised unabated military aid to Ukraine amid the ongoing war against Russia. She is also in favour of strengthening strategic ties with European allies amid the threat posed by Moscow.

Trump, on the other hand, has been critical of the flow of money into Ukraine and has vowed to end the war "within 24 hours" if he gets elected.

• Middle East

Unwavered support to Israel is one area where Harris and Trump are on the same page. Although Harris has been critical of loss of civilian lives in Gaza, she has largely endorsed Biden's view of providing arms and other military aid to Israel.

Trump, who has earlier criticised the calls for ceasefire, wants the conflict to end soon.

• Taiwan

The island region, which faces the threat of a potential Chinese invasion, did not emerge as a major poll issue. Harris has stated that she would honour the commitments that the US has made towards Taiwan.

Trump, however, has said on the campaign trail that Taiwan needs to pay to get protected. He has also accused Taiwan of "stealing" the US chip industry.

• NATO

Similar to Biden, Harris supports the strengthening of North Atlantic Treaty Organisation amid the Russian aggression seen in Ukraine. She believes that defence cooperation is at the core of the strategic alliance.

On the other hand, Trump is of the view that NATO is a strain on US resources. According to him, the European allies should pay to the US if they need the country's protection.

• Immigration

Harris seeks to establish more easier pathways to citizenship for legally settled immigrants, and is also pushing for a bipartisan bill that can increase border protection and asylum officers.

Trump has promised to carry out the largest deportation exercise by sending back the illegal immigrants. He has also promised to complete the construction of the wall along the Mexico border that was started during his presidency.

• Abortion

Harris plans to bring a legislation that would make safe access to abortion a constitutional right. The right was overturned in a 2022 judgment issued by the US Supreme Court.

Trump is of the view that abortion laws should be decided by the provinces, but has clarified that he would not give his assent to any proposed legislation that seeks a national abortion ban.

• Healthcare

Harris has pledged to continue Biden's initiative to bring down the prices of pharmaceutical items, by lowering the cost of prescription drugs covered under the federal Medicare program.

Trump has vowed to abolish the Affordable Care Act, also known as Obamacare, and provide more healthcare options to US citizens based on their needs.

• Climate

Harris has indicated that she will continue with Biden's push against the use of fossil fuels, by continuing the incentives for electric vehicles. However, she has backtracked from her earlier position of banning fracking on public lands.

Trump, in contrast, has promised to end the electric vehicle mandates, and expand oil and gas extraction in the US.

• Firearms

Harris, who heads a Congressional panel created by Biden on stronger gun control measures, is expected to focus on safe usage of firearms. However, she has reiterated her support for the Second Amendment of the US Constitution, that guarantees the citizens with the right to bear firearms.

Trump, during the campaign trail, has not talked about a specific policy on gun usage. His campaign team, however, said in a statement that he would "terminate every single one of the Harris-Biden's attacks on law-abiding gun owners his first week in office".