Financial expert warns of ‘elephant in room’ Harris has been silent about

With the economy top of mind for voters heading to the polls, one financial expert is sounding the alarm about Vice President Kamala Harris’ “lack of talk” about international economics.

“There is a potential red flag that Harris is not discussing tariffs and is actually openly confronting China,” “What should I do with my money?” Author Brian Kuderna spoke to Fox News Digital.

“She’s been quiet on any international economic theory, whether it’s tariffs or no tariffs, how we’re going to move forward in the next four years versus the other superpower, China, kind of the elephant in the room. She’s been very, very quiet on that.”

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Harris has largely focused her economic platform on domestic issues and supporting American families through proposed loans and stimulus. She also touted policies that would force the wealthy to “pay their fair share of taxes.”

Kuderna, however, warned that if Harris is elected and her economic policies are implemented, it could leave America vulnerable on the world stage.

“If we take a step back and say, well, let’s just see how things unfold. Let’s focus on America and helping young professionals, helping first-time homebuyers and things like that, that’s all good. allows China and its economy to really become a little more dominant, which could have long-term implications for our global position as No. 1.”

International Center for Law and Economics chief economist Brian Albrecht acknowledged that it’s “a little concerning that Harris hasn’t provided a more concrete plan for what she will do on tariffs, international trade, immigration and the like.” she is in a difficult situation. She needs to defend an administration that has kept virtually all of Trump’s tariffs in place.”

While the Biden-Harris administration has retained many Trump-era tariffs, the vice president has hit out hard at her rivals’ tariff proposals on the campaign trail, even accusing him of “selling us out” during a September presidential debate on ABC News.

While Harris has distanced herself from the tariffs, both Kuderna and Albrecht say it’s reasonable to assume it will be a “continuation” of Biden’s approach to foreign trade relations with China and other countries.

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Conversely, former President Trump’s economic agenda has a strong international focus, aimed at competing with China, while also calling for lower taxes and fewer regulations at home.

Kuderna summed up Trump’s vision as one in which the administration would “help domestically by cutting regulation, cutting taxes, letting the American people and American corporations go ahead on their own, making way for them, and then as the US government, we’re going to go abroad and making sure we can keep China under control and then work on Iran, the Middle East, Russia, Ukraine and all the other little fires that are expanding.”

The Tax Foundation noted that Trump’s plan includes imposing a universal tariff on all U.S. imports of 20%, raising Section 301 tariffs on China to 60% and imposing a 10% foreign retaliatory tariff on U.S. exports to China.

Albrecht warned that Trump’s increased focus on tariffs is a “major concern” for US consumers and manufacturing.

“We know from economic research that these costs are ultimately borne by consumers, but they also impact U.S. production. So in the name of protecting U.S. manufacturing from Chinese competition, you are actually harming U.S. manufacturing,” the chief economist said.

Trump has been very bold in using tariffs as a means of competition on the world stage and as a source of tax revenue.

Albrecht said the problem with Trump’s plan is that “the math just doesn’t add up.”

“The imported goods are not enough to make this work for every dollar people receive in income. And if you tried to do that, you would effectively shut down international trade.”

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It is unclear whether Trump’s tariffs will be implemented or used as a negotiating tactic. However, if tariffs are implemented, they would generate between $2 trillion and $4.3 trillion in tax revenue over a decade, according to an analysis by the Committee for a Responsible Federal Budget.

“We always hope for a bigger and better economy and that we can tax everyone less as they grow and grow and grow and then make the rest of the world pay for it. This all sounds good, but in practice it will be a few short-term long-term pain to possibly achieve that long-term gain,” Kuderna reasoned.

“Will this international tariff revenue offset any loss of tax revenue we have domestically? “It’s very difficult to quantify, but it’s likely not going to happen right away, and that raises concerns about whether we’re just going to increase our national debt,” he continued.

The economic programs proposed by both candidates are expected to significantly increase the US national debt.

The CRFB estimates Trump’s plan could add about $8 trillion to the debt by 2035, up from about $4 trillion under Harris.

While both candidates acknowledge the importance of the economy, national polls show Trump maintaining a slight lead over Harris. A recent Reuters/Ipsos poll showed Trump with 45% support for the economy, compared with 40% for Harris.

“It is clear to everyone that the economy is a serious concern. If we disagree, this is roughly what it means in practice and what to do about it in the future,” Albrecht said.

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FOX Business’ Kayla Bailey and Eric Revell and Fox News’ Anders Hagstrom contributed to this report.