Trump calls for taking other nations’ companies but lays out few specifics
Al Jazeera
Trump has not answered specific questions about his ideas that could change their impact and how much they cost.
Donald Trump has pledged not only to stop US businesses from offshoring jobs, but also to take other countries’ jobs and factories in part through huge tariffs that economists say could actually raise domestic prices.
Among the ideas the former president pitched in Georgia on Tuesday was cutting the corporate tax rate from 21 percent to 15 percent, but only for companies that produce in the United States. His opponent, Vice President Kamala Harris, wants to raise the corporate tax rate to 28 percent. It had been 35 percent when Trump became president in 2017, and he later signed a bill lowering it.
“We’re putting America first,” Trump said. “This new American industrialism will create millions and millions of jobs.”
The former president has pressed Harris on the economy and has proposed using tariffs on imports and other measures to boost US industry, even as economists warn US consumers would bear the costs of tariffs and other Trump proposals like staging the largest deportation operation in US history.
That did not stop Trump from declaring, “If you don’t make your product here, then you will have to pay a tariff, a very substantial tariff, when you send your product to the United States.”
