Speaking at the Detroit Economic Club, Donald Trump announced a comprehensive strategy to bolster the U.S. auto industry. His plan would reduce the corporate tax rate to 15% for companies manufacturing in the U.S. and provide tax credits for research and development.
Additionally, Trump vowed to double the amount small businesses can deduct for equipment investments and restore tax-deductible interest on auto loans.
Warning of tariffs as high as 1,000%, Trump said he would target foreign car imports to prevent U.S. jobs from being outsourced, blaming policies like NAFTA for the loss of millions of manufacturing jobs in Detroit and across the country.
