US Presidential Elections 2024: Impact on Supply Chain

Abstract

This paper examines the contrasting supply chain policies of the Trump and Biden-Harris administrations, emphasizing the implications of their strategies amid the complexities of global economic dynamics. Trump’s "America First" approach prioritized domestic manufacturing through tariffs and trade barriers, attempting to reduce dependence on foreign suppliers, particularly from China. However, these measures led to increased consumer costs, strained international relations, and highlighted vulnerabilities in critical supply chains during the COVID-19 pandemic. In contrast, the Biden-Harris administration advocates for a resilient, sustainable, and cooperative supply chain framework, focusing on global alliances, significant infrastructure investments, and technological advancements. This administration's emphasis on sustainability aligns with growing consumer demand for environmentally friendly practices, whereas innovation plays a crucial role in adapting to ongoing global challenges.
The study explores the lessons learned from the contrasting approaches regarding resilience, sustainability, and geopolitical considerations, emphasizing the need for the U.S. to adapt its supply chain strategies to navigate future uncertainties more effectively. Ultimately, the essay underscores the importance of innovation, collaboration, and sustainability in shaping robust supply chains that not only respond to immediate challenges but also secure long-term economic prosperity and national security in an increasingly interconnected world.