Trump Advocates for Slashing Corporate Taxes and Increasing Tariffs on Foreign Products during Michigan Stop
WALKER, Mich. – Former President Donald Trump vocalizes plans for corporate tax cuts and higher tariffs on foreign-made products
Downsizing corporate taxes
During a recent visit to Walker, Michigan, former President Donald Trump discussed plans to slash the federal corporate tax rate from 21% to 15% for manufacturers producing their goods within U.S. borders.
Raising tariffs on foreign products
In addition to domestic corporate tax cuts, Trump also intends to increase tariffs on foreign-made products, specifically cars made in Mexico. This proposal comes in response to many automakers’ preference for building cars in Mexico, facilitated by lower labor and production costs.
Benefits to the American citizen
Former President Trump emphasized that these changes would benefit the American citizens, stating, “If you don’t make your product here, you will have to pay a tax or tariff when you send your product into the United States … and (we’ll) use that money to benefit the American citizen. Americans could anticipate considerable economic growth.
Trump’s first scheduled stop in Michigan
Trump’s announcement was made at a manufacturing plant in Grand Rapids, marking his first scheduled stop in Michigan. The state is pivotal in determining the outcome of the presidential election between Trump and Democratic nominee, Vice President Kamala Harris.
Returning U.S. to Manufacturing Prominence
Trump’s ambitious plan seeks to restore Michigan, and by extension the U.S., to manufacturing prominence. His projection for the economy sees it becoming “the most competitive in the world, adding that Michigan’s manufacturing sector would be hotter than ever”.
Repositioning Automakers towards Electric Vehicles
Trump took issue with the Biden administration’s push for automakers to produce more electric vehicles in the effort to address greenhouse gas emissions. He opined that while electric cars had their place, mandating them did not make sense especially in competition with China’s electric vehicle industry.
Democrats Rebuke Trump’s Manufacturing Promise
Earlier in the day, Democrats challenged Trump’s claims, suggesting that a Trump return to the White House would be detrimental to workers and manufacturers. Democrats highlighted recent announcements showcasing new manufacturing projects in Michigan and federal funding geared towards manufacturers.
Trump Misgivings towards VP Harris
Trump continued to criticize Harris’ handling of the U.S. southern border with Mexico, blaming her for the surge in migrant crossings this year. His stance on border issues and immigration became focal points during his speech, which painted migrants ambiguously. He suggested that Harris “should resign in disgrace” due to the state of the southern border.
Trump’s Call to Vote
In a slight deviation from his previous stance, Trump called on supporters to cast their absentee ballots, which are now available in Michigan. He ended his remarks, urging voters to return their ballots as early as possible.
