United States: recession, Covid-19 crisis, the first challenges of Joe Biden's team
The application of the new plan to help the economy will be the priority measure of Joe Biden (our photo) as soon as he takes office.
ANGELA WEISS AFP
Text by: Myriam Berber
6 min
On January 20, 2021, Joe Biden and Kamala Harris are sworn in.
They become the 46th President and Vice President of the United States.
In the midst of a pandemic, the ceremony will be shortened and under very high security on the esplanade of the Capitol.
The public is thus not invited to come to Washington.
To turn the page on Trump, Joe Biden chose an experienced and diverse team.
Publicity
Read more
The application of the new plan to help the economy will be Joe Biden's priority measure as soon as he takes office.
A
$ 1900 billion plan
to help households, small businesses, increase food aid and speed up vaccine distribution.
For millions of Americans who have lost their jobs, this plan will extend a number of important federal unemployment benefits, and extend them to new beneficiaries who ordinarily do not qualify.
Still, more will have to be done to help companies severely weakened by the health crisis.
The US economy is struggling, with unemployment at 7%, double before the pandemic.
The latest forecasts point to a drop in US GDP of 3.4% in the United States this year.
To get money into the state coffers, Joe Biden is planning tax hikes.
In total, the wealthiest households and large businesses, should pay four trillion dollars in additional taxes over the next ten years.
These tax revenues will be reinvested in infrastructure, education and social programs, to help poor households and the middle classes.
An SEC appointment that worries Wall Street
To steer this economic policy, Joe Biden chose Janet Yellen as head of the Treasury, the equivalent of the Ministry of the Economy and Finance.
The first woman to chair the U.S. Central Bank, Democrat Janet Yellen is a popular figure in business and on the right.
A sizeable asset, because his first mission will be to lead the negotiations of the recovery plan, with the American elected officials, on behalf of the government.
Joe Biden also announced the appointment of Wally Adeyemo as Deputy Secretary of the Treasury.
Of Nigerian origin, he is considered an expert in macroeconomic policy.
The Budget item will be borne by a progressive Neera Tanden.
Janet Yellen is the Secretary of State for the Treasury for Joe Biden's team.
AFP - CHANDAN KHANNA
For the SEC, the gendarme of financial markets in the United States, Joe Biden chose Gary Gensler.
An appointment that could worry Wall Street.
A former Goldman Sachs banker and professor at MIT, Gary Gensler headed the CFTC, the Futures Market Regulatory Authority.
It was he who led the investigations into the Libor, the interbank rate, which led to very heavy fines for several banks.
► To read also
: United States: the future president Joe Biden completes his economic team
Another strategic economic post, that of foreign trade representative.
Joe Biden has chosen a China trade relations specialist who speaks Mandarin.
Of Taiwanese descent, Katherine Tai is the first woman of Asian descent to head the Trade Bureau.
A strategic choice in the trade war between the USA and China.
John Kerry, Special Envoy for Climate
Ecological transition is at the heart of Joe Biden's program.
He is committed to the return of the United States within the Paris climate agreement, from which Donald Trump withdrew in 2017, with the aim of ending carbon emissions by 2050. The one who leading this policy is John Kerry former Secretary of State to Barack Obama.
He becomes Joe Biden's special climate emissary.
► To read also: With the victory of Joe Biden, the United States will return to the Paris Agreement on the climate
Still on the environment side, Joe Biden plans to put in place several flagship measures, such as the construction of low-energy housing, assistance with the purchase of electric cars, but also the switch to electric for government vehicles.
Jennifer Granholm at the head of the Ministry of Energy will be responsible for the energy transition and the nuclear arsenal.
Balance sheet of the Covid-19 which continues to increase
The Covid-19 pandemic has claimed
nearly 400,000 lives in the United States, a toll that continues to grow.
First objective of the new Democratic president: to accelerate the vast vaccination campaign throughout the country and to reduce the epidemic.
Doctor Antony Fauci becomes Joe Biden's main adviser on Covid-19, after having been that of Donald Trump.
Second objective in terms of health: reduce from 65 to 60, the minimum age to benefit from health cover for seniors.
It is the Attorney General of California, Xavier Becerra of Latin American origin who will lead this health and social services policy.
Xavier Becerra became known for defending Obamacare in court against the Trump administration, which campaigned for its dismantling.
Newsletter
Receive all the international news directly in your mailbox
I subscribe
Follow all the international news by downloading the RFI application
google-play-badge_FR
United States
Economy
our selection
On the same subject
United States: Joe Biden wants to act quickly after taking office
United States: Joe Biden unveils his $ 1.9 trillion stimulus plan