Washington, Oct 2 (IANS) US President Donald Trump credited his tariff policies with bringing manufacturing jobs and factories back to the United States, arguing that protection from foreign competition was driving a revival in American industry.
Speaking in Texas, Trump pointed to the truck manufacturer’s expansion as evidence that his trade policies were working.
“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 said.
Trump said tariffs had prevented foreign producers from selling goods into the United States while taking jobs away from American workers.
“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 said.
The President said American exports had reached record levels and claimed the US trade deficit with China had fallen sharply.
“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 said.
“Our trade deficit with China has plummeted to the lowest level that we’ve had in 44 years,” he added.
Trump also said manufacturing wages had risen and the United States had added 60,000 manufacturing jobs this 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 percent or something,” he said.
“And heavy truck shipments have hit an all-time high, the highest in the history of our country under the Trump administration.”
“American trucking is back,” Trump said.
Peterbilt events manager Sarah Renshaw told Trump that his tariffs had allowed the company to increase production and employment.
“Mr. President, because of your tariffs, we have been able to hire — increase production and hire 1,000 employees,” Renshaw said.
Trump also linked the industry’s performance to his administration’s decision to roll back environmental regulations affecting heavy trucks.
He singled out a nitrogen oxide regulation, saying its rollback would reduce the cost of producing trucks.
“This action alone will cut an estimated $6,000 from the cost of each truck built and it’ll be a better truck,” Trump said.
Earlier, PACCAR CEO Preston Feight welcomed Trump to the facility and praised the administration’s trade policies.
“President Trump, we are so thankful to you, Secretary of Commerce Lutnick and the whole administration for putting trade policies in place that are good for America,” Feight said.
“They’re good for our customers; they’re good for strengthening American manufacturing; and they’re good for Peterbilt.”
Trump has made tariffs a central instrument of his economic and trade policy, arguing that duties on imported goods can protect domestic production and encourage companies to manufacture inside the United States. His administration has also used sector-specific tariffs to target industries it considers important to US economic and national security.
–IANS
lkj/rs
