Former President Donald Trump released a plan to bolster domestic manufacturing that features a “manufacturing ambassador” and tax incentives.
Trump released an op-ed in Newsweek on Tuesday in which he listed all his proposals to boost the production of goods in the United States. The piece ties together several of his campaign talking points in promoting his plan to grow the U.S. manufacturing base.
“Here’s the deal that I will be offering to companies and manufacturers around the planet: The United States will give you the lowest taxes, the lowest energy costs, the lowest regulatory burdens, and free access to the best and biggest market on the planet — but only if you make your products here in America and hire American workers for the job,” Trump said.
Trump said the centerpiece of his plan is to lower the corporate tax rate, now at 21%, to 15% — but just for companies that manufacture their products in the U.S. He also said U.S. manufacturers would be rewarded with expanded research and development tax credits to build out factories and plants needed for manufacturing.
Trump pitched the creation of “special zones” to encourage the reshoring of manufacturing from overseas.
“We will also set up special zones on federal land with ultra-low taxes and regulations for American producers, to entice the relocation of entire industries from other countries,” the op-ed reads. “And we will seriously expedite environmental approvals so we can use the resources we have right here on American soil.”
Last week, during a rally, Trump previewed the idea of a “manufacturing ambassador,” and on Tuesday, he said he intends to push for such a role should he win in November.
“To help ensure our pro-manufacturing policies reach their full potential, I will also appoint a Manufacturing Ambassador, whose sole task will be to go around the world and convince major manufacturers to pack up and move their production to America,” Trump wrote.
The former president also used the op-ed to tear into his opponent, Vice President Kamala Harris, branding her the “Tax Queen.” He described the administration’s current policy as a “horrific nightmare” for U.S. workers and panned the Inflation Reduction Act, which was passed by Democrats.
“In Kamala Harris’ America, if you ship production overseas, she will give you a tax break and subsidies,” Trump said. “With her tie-breaking vote on what I call the ‘Inflation Creation Act,’ she sent billions to Chinese battery factories, Chinese solar factories, and Chinese electronics factories.”
In addition to the partisan Inflation Reduction Act, President Joe Biden signed a bipartisan infrastructure bill and the CHIPS and Science Act, which authorized funding for domestic research and manufacturing of semiconductor chips, which are a crucial tech commodity. Investment in manufacturing facilities has soared in recent years.
Biden has built off of Trump’s China tariffs and increased them in an effort to curb unfair market practices. Biden also made it so that federal infrastructure projects are required to use domestically produced steel and construction materials, although there can be exemptions.
Trump has leaned heavily into growing domestic manufacturing and cutting trade deficits during this election cycle, even more so than during his first term in office.
Trump has vowed to shrink the country’s trade balance and pay for some of his proposals by raising tariffs. He has proposed harsh tariffs on China, discussed the idea of 10% across-the-board tariffs, and has even floated tariffs up to 20%.
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Harris has attacked Trump over his tariff proposals, arguing it would equate to a tax on working Americans. Most economists agree that tariffs are passed along to consumers through higher prices.
“My opponent has a plan that I call the Trump sales tax, which would be a 20% tax on everyday goods that you rely on to get through the month,” Harris said during the first and only debate with Trump so far.
This article was originally published at www.washingtonexaminer.com
