Trump Campaign Rally Speech in Swing State Georgia
"Will Witness a Massive Exodus of Manufacturing"
Appoints 'Special Envoy' to Persuade Global Manufacturers
Significant Tariffs Imposed if Goods Not Made in the US
Calls Rival Harris the "Tax Queen"
Former U.S. President and Republican presidential candidate Donald Trump claimed on the 24th (local time) that if he returns to power, major global manufacturers will flock to the United States due to low taxes and deregulation.
During a speech on taxes and U.S. manufacturing held in Savannah, Georgia, a key battleground state, Trump said, "If you vote for Trump, you will witness a massive exodus of manufacturing from China to Pennsylvania, from Korea to North Carolina, and from Germany to Georgia."
He emphasized that if elected president, he would appoint a "manufacturing ambassador" as part of a pro-manufacturing policy. Trump explained the role of the manufacturing ambassador as "traveling around the world to persuade major manufacturers to pack up and return to the United States."
Trump promised, "We will offer every company and manufacturer on the planet the lowest taxes, the cheapest energy costs, the least regulatory burden, and free access to the greatest and largest market on Earth (the United States)." However, he added, "this only applies if the goods are made in the United States."
He continued, "We will create special zones on federal land with extremely low taxes and regulations for American producers," adding, "These will be ideal places to relocate entire industries moving from other countries to the U.S." He also said, "I want German car companies to become American car companies and build factories here," and "I want us to beat China in home appliance production, and we can easily do that."
Trump also stated, "(If companies) do not manufacture goods in the U.S., they will have to pay significant tariffs." Targeting Chinese companies circumventing tariffs through indirect exports, he reiterated, "We will impose a 100% tariff on every car crossing the Mexican border." He mentioned that during his previous term, he threatened to impose a 200% tariff on individual vehicles if China built factories in Mexico, which prevented them from doing so, but after his departure, Chinese companies have been building factories in Mexico.
Regarding his rival, Vice President Kamala Harris, Trump called her the "tax queen" and said she plans to tax unrealized capital gains. He added, "If a company succeeds, since there is no cash on hand, you have to sell the company to pay her half of its value in taxes. This is communism, Marxism."
He also mentioned his pledge to further reduce the corporate tax rate, which was lowered to 21% under the 2017 Trump tax cuts, down to 15%, emphasizing, "This is the core of my manufacturing renaissance plan." He added, "If we cut the corporate tax to 15%, we will be the most competitive place on Earth," but clarified, "This is only for companies that make products in the U.S."
Trump said, "U.S.-based manufacturers will also receive expanded research and development (R&D) tax credits," and "Companies can fully expense the cost of heavy equipment and other facilities in the first year, and new manufacturing investments can be fully expensed."
He pledged, "I will cut energy and electricity costs in half within 12 months," and "We will expedite environmental approvals and quickly approve all permits for mineral production and rare earth development." He also expressed his intention to reinstate oil and gas exploration in the Alaska National Wildlife Refuge (ANWR), which the Biden administration had banned.
Targeting the middle and working classes, he promised, "While the lives of the American people improve, I will temporarily cap credit card interest rates at 10%."
Additionally, he mocked Ukrainian President Volodymyr Zelensky by saying, "Every time he comes to the U.S., he brings $100 billion. In my opinion, he is the greatest salesman." He added, "Biden said, 'We will not leave until we win,' but what if they (Russia) win? They (Russia) defeated Hitler and Napoleon," emphasizing that if he returns to power, he would negotiate and withdraw from the Ukraine war.
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