Donald Trump announced plans to slash taxes on manufacturers who make products in the US, lower energy costs and roll back regulations, vowing that America would “steal jobs from other countries.”
At a campaign rally in Savannah, Georgia, Trump promised a “manufacturing revival” and reiterated his pledge to punish American companies that manufacture overseas and impose massive tariffs on foreign goods to protect American industry.
President Trump and Vice President Kamala Harris have stepped up efforts in the final stages of the campaign to bring together their competing visions for the economy, highlighting what voters say is their biggest concern in the 2024 election.
Harris is expected to unveil a series of new economic proposals in a major speech in Pittsburgh, Pennsylvania, on Wednesday.
Speaking to the crowd in Savannah, President Trump went beyond the usual protectionist policies and raised the possibility of further trade wars.
President Trump said he would offer special federal territories with “ultra-low taxes and regulations” to companies that relocate to the United States, eliminate regulations, and appoint “manufacturing ambassadors” to persuade international companies to relocate to the United States.
“Under my plan, American workers will no longer worry about losing their jobs to foreign countries. Instead, foreign countries will worry about losing their jobs to America,” he said.
Trump has previously proposed tariffs of more than 60% on Chinese products and a flat 20% tariff on imports from other countries, aggressive policies that some economists say could lead to higher prices for Americans.
During his presidency, Trump imposed tariffs on some imports from China, and the Biden administration has left some of those policies in place and announced new restrictions in some areas, such as electric vehicles.
The former president is seeking to hold Democrats responsible for soaring inflation that has subsided since the COVID-19 pandemic and soaring food prices that remain a top concern for voters.
According to the U.S. Department of Agriculture, the Food Consumer Price Index increased 25% from 2019 to 2023.
Polls show that the economy is a top concern for American voters, and more voters believe Trump can handle it, but Harris has made some headway.
A CBS News/YouGov poll of likely voters released this week found that voters who cited the economy as a primary factor favored Trump over Harris by 53% to 47% — but Harris’s approval rating has risen since August, when she had just 43% approval among voters who prioritize the economy.
Trump’s visit to Georgia came shortly after a New York Times/Siena College poll showed him with slight leads in the state, as well as in the battleground states of Arizona and North Carolina.
Both candidates have devoted significant time and money to campaigning in Georgia, a state that could be crucial to their path to the White House.
Though the Georgia speech was billed as an economic event, Trump spent much of his speech on other topics, reflecting on the assassination attempt at a rally in Pennsylvania in July and a second one in Florida this month. Trump praised the US Secret Service, which has come under intense scrutiny for its ability to protect him.
He also called Harris “grossly incompetent” and accused her of “destroying American industry and destroying the country.”
An hour before Trump spoke in Georgia, the Harris campaign held a press conference with Mark Cuban, an American investor and long-time supporter of Democratic candidates.
Cuban criticized President Trump’s proposal to impose tariffs on American companies manufacturing in countries such as Mexico, saying it would hurt American businesses.
“This just shows that he hasn’t thought these things through,” Cuban said.
Harris is due to return to Pennsylvania, another key battleground state, on Wednesday to unveil her economic platform.
The Vice President has already announced a series of economic proposals aimed at first-time homebuyers, tax cuts for families and an end to “price gouging” on groceries. She’s calling for a “first-of-its-kind” tax credit for builders who sell homes to first-time buyers, as well as up to $25,000 in down payment assistance for “qualified” first-time homebuyers.
She told reporters on Sunday that the plan focuses on “investing in the aspirations and ambitions of the American people while addressing the challenges they face.”
