Perhaps no single proposal by Donald Trump is as striking and antiquated as his strategy to keep American jobs from being "taken away" by foreign countries, such as Mexico and China.
Trump doesn't consider international trade to be a win-win proposition as do most modern economists. Instead, Trump believes that trade wars have clear winners and losers, and that currencies and trade restrictions must be used to ensure victory.
At various times throughout his campaign, Trump has pledged to put in place a 20% tariff on all imported goods. He told an audience that he would have told the CEO of Ford Motor Co. that he would have the government impose a 35% tariff on all Ford products if a Ford motor plant was shut down in Detroit and moved to Mexico. He has said that he would even impose a Chinese-specific tariff to offset the effects of Chinese currency manipulation.
Five-Point Tax Plan
Along with his 20% tariff on imported goods, Trump also wants to impose an additional 20% tax on companies that hire foreign workers.
The fifth part of the five-point plan is a simplified tax code with the following brackets: 1% tax on the first $30,000 in income, 5% tax on all income between $30,000 and $100,000, 10% tax on all income between $100,000 and $1 million, and a 15% rate on all income above $1 million.
Foreign Policy
Trump projects a hardline stance on illegal immigration, turmoil in the Middle East, and negotiations with China, Russia and Iran.
President Trump would push to build a physical wall on the border with Mexico. He proposed sending Exxon Mobil to Iraq to "take back the oil" to starve ISIS. However, he refuses to say whether he'd commit more American troops overseas.
http://www.investopedia.com/articles/investing/080415/america-donald-trump-president.asp
An End to Free Trade
Perhaps no single proposal by Donald Trump is as striking and antiquated as his strategy to keep American jobs from being "taken away" by foreign countries, such as Mexico and China.
Trump doesn't consider international trade to be a win-win proposition as do most modern economists. Instead, Trump believes that trade wars have clear winners and losers, and that currencies and trade restrictions must be used to ensure victory.
At various times throughout his campaign, Trump has pledged to put in place a 20% tariff on all imported goods. He told an audience that he would have told the CEO of Ford Motor Co. that he would have the government impose a 35% tariff on all Ford products if a Ford motor plant was shut down in Detroit and moved to Mexico. He has said that he would even impose a Chinese-specific tariff to offset the effects of Chinese currency manipulation.
Five-Point Tax Plan
Along with his 20% tariff on imported goods, Trump also wants to impose an additional 20% tax on companies that hire foreign workers.
The fifth part of the five-point plan is a simplified tax code with the following brackets: 1% tax on the first $30,000 in income, 5% tax on all income between $30,000 and $100,000, 10% tax on all income between $100,000 and $1 million, and a 15% rate on all income above $1 million.
Foreign Policy
Trump projects a hardline stance on illegal immigration, turmoil in the Middle East, and negotiations with China, Russia and Iran.
President Trump would push to build a physical wall on the border with Mexico. He proposed sending Exxon Mobil to Iraq to "take back the oil" to starve ISIS. However, he refuses to say whether he'd commit more American troops overseas.
#politics