ICYMI – Donald J. Trump, the former 45th president of the United States and a candidate for 2024 has unveiled his plans for a “sweeping pro-American overhaul of our tax and trade policy.” His plan is aimed at building up American production and shedding economic dependence on China.
?? Donald Trump Avisa:
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In a newly released campaign video Trump is seen ridiculing Joe Biden, stating that despite his claims to being pro-American manufacturing, he is “pushing the same pro-China globalist agenda that ripped the industrial heart out of our country.”
Trump continued by sharing his vision “to move from the Biden system that punishes domestic producers and rewards outsourcers to a system that rewards domestic production and taxes foreign companies and those who export American jobs.”
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“To achieve this goal, we will phase in a system of universal base-line tariffs on most foreign products. On top of this, higher tariffs will increase incrementally depending on how much individual foreign countries devalue their currency,” Trump explained.
Make no mistake folks, this week's CPAC conference serves only one person, and that person is Trump. The Republican Party of old is no more, as Trumpism and MAGA have taken root and instilled a rot that cannot be washed away.pic.twitter.com/03j39pw5Yx
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He also explained that taxes on American producers will be reduced as the new tariff system is employed which would allow domestic employers to hire more workers:
As tariffs on foreign producers go up, taxes on American producers will go down and go down very substantially, and that means a lot of jobs coming in. Not only will this system end our gaping trade deficits – and they are massive right now – and bring back millions of American jobs, it will also bring trillions and trillions of dollars pouring into the United States Treasury from foreign countries and allow us to invest that money in American workers, American families, and American communities.
This plan will be the linchpin of a new strategic manufacturing initiative that builds on my historical success in ending NAFTA [North Atlantic Free Trade Agreement].