Donald Trump chose Detroit – the very symbol of the decline of American industrial might – to announce his plans for the national economy. Referring to his rival Hillary Clinton, saying, “She is the candidate of the past,” and added, “Ours is the campaign of the future.” Trump added, “Our opposition has long ago run out of ideas.” He was frequently interrupted by applause at the Detroit Economic Club.
He denounced Clinton, and former president Bill Clinton, for backing the North American Free Trade Agreement, the Trans Pacific Partnership, and the entry of China to the World Trade Agreement. “The city of Detrot is the living, breathing example of my opponent’s failed economic agenda,” Trump said. ”She supports the high taxes and radical regulation that forced jobs out of your community.”
Trump vowed to place a temporary moratorium on new federal regulations upon taking office. He blamed excessive federal regulations for the nation’s lagging economy. He called for an end to the estate tax, exclusion of child-care expenses from taxation, as well as a 15 percent cap on all business income tax. He said he wants to label China a currency manipulator, and to renegotiate NAFTA. He vowed that the US would withdraw from TPP once he is in office. “My only interest is the American people,” said Trump, who vowed to introduce a seven-point plan to address currency manipulation. He would also address the theft of intellectual property.
As a result of President Barack Obama's energy policies, Trump said that 50,000 Americans have lost their jobs. He said that coal-fired power plants have been shut down in Michigan and elsewhere. He promised an "energy revolution" that will increase jobs and annual wages overall.
Clinton will come to Detroit on August 11 to deliver her own economic policy speech. Her campaign has already issued a critique of Trump’s plan, which it labeled “Trumponomics.”