'New American industrialism': Trump vows return of manufacturing in key policy speech

Former President Donald Trump on Tuesday delivered a key economic policy speech in which he vowed to repatriate manufacturing jobs and to foster a "new American industrialism" that would benefit American workers.

Trump specifically vowed to impose import tariffs on foreign-made automobiles and other goods to incentivize domestic manufacturing and render foreign products less competitive.

"This new American industrialism will create millions and millions of jobs, massively raise wages for American workers and make the United States into a manufacturing powerhouse like it used to be many years ago," he promised at an event in Savannah, Ga.

"So, as your president, here is the deal that I will be offering to every major company and manufacturer on Earth," he said. "I will give you the lowest taxes, the lowest energy costs, the the lowest regulatory burden and free access to the best and biggest market on the planet, but only if you make your product here in America."

"It all goes away if you don't make your product here and hire American workers for the job," he warned.

He further recounted his discussion with a builder of automobile plants in which Trump's unnamed friend outlined the incentives for building plants in Mexico. Trump insisted that such builders would "stop construction" when they learn of his tariffs.