Trump vows to transform America into ‘manufacturing superpower’
Published: 10:01 AM, 16 October 2020
President Donald Trump on Wednesday said if he is reelected, he will transform America into a ‘manufacturing superpower’ and they attempt to reduce their dependency on Chinese manufacturing.
Speaking virtually to the Economic Club of New York and other economic clubs, Trump said, “We will make America into the manufacturing superpower of the world, ending reliance on China once and for all.”
In his remarks, he threatens to punish firms that oppose moving their jobs in the United States. Meanwhile, his administration would reward companies that agreed to move their jobs to the United States.
We will keep taxes low for companies that move their jobs to the US, and we’ll impose steep tariffs on any company that leaves, he said.
According to the National Association of Manufacturers (NAM), the American manufacturing sector had added 450,000 workers during the first three years of Trump’s presidency before the coronavirus pandemic. From March when businesses were forced to shut down to prevent the infection of coronavirus, over 700,000 jobs were lost.
In his speech, he harshly criticized the Obama administration. His comments came about just three weeks before the November election.
The last administration sold out American workers like never before, Trump said.