On Tuesday (September 24), Republican presidential candidate and former US President Donald Trump is expected to promise not only to stop American companies from outsourcing jobs but also to develop a plan to attract job opportunities and factories from other countries to the United States.
To achieve this goal, Trump is set to introduce various plans, one of which involves offering federal land use rights to foreign companies to attract them to invest in the US.
Up to now, Trump’s economic policies have mainly focused on punishing companies that move their operations overseas. However, on Tuesday, he will unveil a series of incentive measures to encourage foreign companies to leave other countries and relocate to the US. The former president also stated that he would personally recruit foreign companies if elected and send government officials to do the same.
A senior Trump adviser shared a preview of Trump’s speech, but the former president may still make further modifications to it before the speech.
It is currently unclear whether foreign companies will be enticed by some of the incentive measures Trump mentioned that he would take if elected. Trump’s track record of attracting foreign investment to the White House has been mixed. For example, Trump previously claimed that Taiwanese electronics giant Foxconn promised to invest $10 billion in Wisconsin, creating 13,000 new job opportunities, but the company never fulfilled the promise.
Given that the Bureau of Land Management (BLM) imposes restrictions on foreign entities leasing land, the possibility of a president offering these incentives to foreign companies remains uncertain.
Furthermore, considering Trump’s long-standing accusations against the Chinese Communist Party for harming American business interests, it is unclear whether Chinese companies would be allowed to lease land. Trump’s campaign team has not responded to this issue.
Regarding corporate tax rates, Trump had previously proposed lowering the corporate tax rate from 21% to 15% earlier this month, but with the condition that companies must produce in the US.
In contrast, his opponent, Democratic Vice President Kamala Harris, hopes to raise the rate to 28%.
When Trump took office in 2017, the corporate tax rate was 35%, but he later signed a bill to lower it.
Additionally, drawing on his experience in handling economic issues, Trump has pressured Harris by proposing tariffs on imported products and taking other measures to boost American industry.
However, economists have warned that American consumers will bear the costs of increased tariffs, including the costs of other policies proposed by Trump, such as the largest deportation operation in US history targeting illegal immigrants.
The Republican presidential candidate will travel to Savannah, Georgia to discuss his policies and plans. The city is home to one of the busiest container ports in the US.
This visit marks Trump’s first visit to the battleground state since his long-standing dispute with Brian Kemp ended last month. The highly popular Republican governor ultimately declared his support for Trump.
Trump’s running mate, JD Vance, will also hold a rally in Georgia later this week and visit Macon.
Last Friday, Vice President Harris delivered a speech in Atlanta, stating that Trump posed a threat to women’s freedom and warning voters that if Trump were elected president, he would continue to restrict abortion.
The political battle for this battleground state is expected to intensify in the weeks leading up to the election.