(Natural News)—Former President Donald Trump has promised a series of new tax incentives that would boost the U.S. auto-manufacturing industry if re-elected in November.
In the gathering of about 500 business leaders at the Detroit Economic Club on Oct. 10, Trump proposed the expansion of research and development credits, increased equipment costs for small businesses and consumer tax deductions on car loan interest to appeal to Michigan voters.
The package of incentives also includes a 100 percent tax write-off for heavy equipment in the first year and full expensing for new manufacturing investments. He also proposed doubling the equipment deduction limit for small businesses from $500,000 to $1 million. Additionally, consumers could deduct car loan interest, similar to deductions on home loan interest.
“This will stimulate massive domestic auto production and make car ownership dramatically more affordable for millions and millions of working American families,” he said, noting that many people in the audience work in the auto industry. (Related: Michigan auto workers blame Biden-Harris EV mandates for industry job cuts.)
Trump also reiterated his commitment to revisiting the U.S.-Mexico-Canada Agreement (USMCA) and promised to address perceived imbalances, particularly the growing trade deficits with Mexico and China upon taking office. The U.S. goods trade deficit with Mexico increased by 23.7 percent ($130.5 billion) in 2022, while the deficit with China rose by 8.3 percent ($382.3 billion) during the same period. The USMCA, signed into law in 2020, replaced the North American Free Trade Agreement (NAFTA).
The former president presented his proposals as a “detailed plan to save the American auto industry.” In turn, he guaranteed voters that his policies would reverse job losses, claiming: “You vote for Trump, and you will see a mass exodus of manufacturing jobs, but from Mexico to Michigan, from Shanghai to Sterling Heights.”
Trump also promises tax cuts to U.S.-based manufacturers and tariff hikes to foreign investors
On Oct. 3, Trump made similar claims about the U.S. auto-manufacturing industry, announcing his plans to encourage manufacturers to produce goods in the United States by lowering corporate tax rate from 21 percent to 15 percent for U.S.-based manufacturers and proposing a 100 percent tariff on imported automobiles. Trump also pledged to cut gasoline prices by 50 percent within one year of taking office by boosting domestic oil production and doubling electricity production, which he believes will further attract manufacturers.
Moreover, Trump pledged to enhance protections for industries essential to national interests, such as steel and automotive sectors by implementing higher tariffs, a measure that Harris has consistently criticized as a tax on the American public.
“I want tariffs, but there has to be reciprocity,” Trump said, meaning an equal trade footing between the United States and other countries. “Without that tariff, every single one of the Detroit Big Three could right now be out of business.”
When asked about Chinese automakers locating plants in Mexico in an attempt to sell electric vehicles in the U.S., Trump said: “I will impose whatever tariffs are required … 100 percent, 200 percent, whatever is necessary.”
Learn the latest news regarding President Donald Trump at Trump.news. Watch as Trump says “there won’t be an auto industry left” if Kamala wins.
This video is from the NewsClips channel on Brighteon.com.
More related stories:
- Trump vows to revoke legal status and DEPORT Haitian immigrants in Springfield, Ohio if reelected in November.
- Trump’s crowdfunding campaign for those affected by Hurricane Helene raises $4 million in just a few days.
- Trump accuses Biden-Harris admin of committing ELECTION INTERFERENCE by depriving him of security.
- Trump tells supporters he plans to prosecute Google for rigging election information in favor of Kamala.
- Trump meets Zelensky, vows to negotiate peace deal “that’s good for both sides.”
Sources include:
Why One Survival Food Company Shines Above the Rest
Let’s be real. “Prepper Food” or “Survival Food” is generally awful. The vast majority of companies that push their cans, bags, or buckets desperately hope that their customers never try them and stick them in the closet or pantry instead. Why? Because if the first time they try them is after the crap hits the fan, they’ll be too shaken to call and complain about the quality.
It’s true. Most long-term storage food is made with the cheapest possible ingredients with limited taste and even less nutritional value. This is why they tout calories so much. Sure, they provide calories but does anyone really want to go into the apocalypse with food their family can’t stand?
This is what prompted the Llewellyns to launch Heaven’s Harvest. They bought survival food from multiple companies and determined they couldn’t imagine being stuck in an extended emergency with such low-quality food. They quickly discovered that freeze drying food for long-term storage doesn’t have to mean sacrificing flavor, consistency, or nutrition.
Their ingredients are all-American. In fact, they’re locally sourced and all-natural! This allows their products to be the highest quality on the market, so good that their customers often break open a bag in a pinch to eat because they want to, not just because they have to due to an emergency.
At Heaven’s Harvest, their only focus is amazing food. They don’t sell bugout bags, solar chargers, or multitools. They have one mission – feeding Americans in times of crisis.
What they DO offer is the ability for people to thrive in times of greatest need. On top of long-term storage food, they offer seeds to help Americans for the truly long-term. They want them to grow their own food if possible which is why they offer only Heirloom, Non-GMO, Non-Hybrid, Open-Pollinated seeds so their customers can build permanent food security on their own property.
