Politics

Trump says tariffs bringing factories back to US

Trump says tariffs bringing factories back to US

Washington, DC [US], October 2 (ANI): US President Donald Trump credited his tariff policies with returning manufacturing employment and industrial plants to the country, asserting that shielding domestic markets from foreign competitors is driving a revival in American manufacturing.

Speaking in Texas, Trump cited the expansion of truck manufacturing as proof that his trade measures are yielding results.

"We have more factories being built, like, you're doing so well, they're doing well, better than anybody in the history of our country. All over the country, they're building factories, plants, manufacturing's coming back," Trump stated.

The US President explained that import duties have successfully prevented foreign manufacturers from dumping merchandise into the American market while depriving local labourers of livelihoods.

"They'd drop their products here; they'd walk away with the money, and you'd walk away with no jobs. But not with me and we changed it," he noted.

Furthermore, Trump stated that national exports have attained historic highs, asserting that the trade deficit with China has dropped significantly.

"Thanks to our strong tariff policy, this year, American exports have surged to the highest level in history, in the history of our country," Trump remarked.

"Our trade deficit with China has plummeted to the lowest level that we've had in 44 years," he added.

Trump also mentioned that industrial earnings have increased and that the nation has generated 60,000 new production jobs over the course of the year.

"And after years of decline, this year, the United States has added 60,000 new manufacturing jobs and heavy truck manufacturing is almost up by about, what, 31 per cent or something," he said.