The economic recovery is at the heart of the programs of the candidates for the White House.
It is an essential issue for the United States and one of the great challenges of whoever will lead the country for the next few years.
Nicolas Barré takes stock of a current economic issue.
One of the great challenges of this new mandate, beyond controlling the pandemic, will be the recovery of the American economy, which risks a relapse in the short term.
This is the topic that has dominated discussions in Congress over the last few weeks of the campaign.
Republicans and Democrats failed to agree on a new plan to support the economy.
This is also one of the reasons for the fall of Wall Street in recent days.
During the first wave of the virus, we remember that Congress voted for a first stimulus package of 2.2 trillion dollars.
A plan that was reflected in particular, it was the most visible side, by checks sent directly to American households to support consumption.
And then there was above all aid to companies to help them pay salaries and avoid, as we did in Europe, a collapse of the economy.
It worked ?
Yes, the economy held up, it even rebounded 7.4% in the third quarter, the labor market started to recover.
The problem is that a lot of the aid provided for in this support plan expires at the end of the year.
And that without new measures, the US economy could plunge again.
Hence the need for a new plan which, to be effective, should be voted on very quickly.
There is talk of an envelope of between 1.600 and 2.000 billion dollars.
The result of the US election should facilitate the adoption of these measures.
There is an emergency because many sectors such as air transport and catering are bloodless.
The support plan should also include measures to rebuild certain infrastructures such as bridges, roads and even railway lines, it is a campaign promise from Joe Biden.
The other major economic issue is trade relations.
On this, we must not have too many illusions.
Donald Trump was a fan of sanctions against China or the European Union since steel, aluminum and a whole series of other products such as spirits have been overtaxed.
The American administration, whatever its color, is likely to be uncooperative on these issues.
The negotiation of a free trade agreement between the United States and the European Union is still on the table.
But even under a presidency more favorable to dialogue, Europeans must expect a standoff.
The United States has a heavy trade deficit, that does not encourage compromise.
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