Former President Donald Trump outlined his ambitious plan on Tuesday to revitalize American manufacturing if re-elected, promising to lure companies back to the U.S. in a move that he claimed would create millions of jobs and elevate wages for American workers. Speaking in Savannah, Georgia, Trump detailed a vision for a "manufacturing renaissance" by offering incentives such as the lowest taxes, energy costs, and regulatory burdens to companies producing goods within the United States.

Trump proposed a series of measures including the establishment of special federal zones with reduced taxes and regulations, the appointment of a "manufacturing ambassador" to attract major manufacturers to relocate to America, and significant deregulation efforts aimed at reshaping industries within the country. The former president emphasized his intention to shift manufacturing from countries like China, Korea, and Germany to various states across the U.S., highlighting the potential for a "mass exodus" of production to domestic shores.

In his address, Trump affirmed plans for a 15 percent "made in America tax rate," signaling a protectionist stance with promises to impose 100 percent tariffs on cars made in Mexico. Targeting car electrification mandates, he pledged to halt such requirements promptly. Trump also underscored his commitment to scaling back regulations, claiming to have reduced more regulations during his tenure than any other president in history.

The former president's proposals were met with skepticism from economists, who raised concerns about potential price hikes affecting American consumers as a result of aggressive tariff policies. Ahead of Trump's speech, Vice President Kamala Harris garnered support from over 400 economists and former officials who endorsed her. Harris' campaign criticized Trump's plan as one that could lead to job losses and increased outsourcing to China, ultimately burdening middle-class families with higher costs.