Both the U.S presidential candidates of 2020 have big differences when it comes to economic policy,(Vecchio,2020) “while a Trump administration would likely continuation of lower tax rates, a Biden administration might bring about the end to trade wars”, the other seems to be socialist while the other appears to be capitalist. Perhaps U.S voters amidst the coronavirus and a bad economic condition are willing to elect a socialist candidate this year as the election race tightens.
Whether the financial markets have priced in the impact of the coronavirus amidst global central banks stimulus packages and quantitative easing remains a question. The U.S 2020 election will determine the direction of the economy and the markets, according to Vecchio “there may be some agreement in terms of trade or infrastructure, Trump and Biden diverge on nearly every other economic policy facet- from taxes, to jobs, to the coronavirus pandemic recovery itself”, all remain skeptical (2020). Trump is surely to open the economy if he is elected and as for Biden, the economy is likely to remain closed. A closed economy means a slow economic recovery and the continuation of the trade war also means the economy would not reach its full potential.
References
Christopher Vecchio.2020. Trump versus Biden policies overview Dailyfx
Kaizer Makakole's Blog 