Former President Donald Trump has outlined his economic strategies as key elements of his 2024 campaign, aiming to address inflation and economic growth.
Speaking with FOX Business’ Maria Bartiromo, Trump discussed his plans to alleviate financial burdens on Americans and reduce government waste.
In an interview aired on “Mornings with Maria” on Friday, Trump emphasized his commitment to protecting Social Security for seniors, criticizing current government inefficiencies.
“We’re going to take care of Social Security. We’re not going to do anything to hurt our seniors,” Trump assured.
According to the source, He highlighted excessive government spending as a major issue, stating, “There is so much cutting. There is so much waste in this government.”
Trump also reiterated his support for tax-free tipped wages, a policy that has received backing from prominent figures like restaurateur Jon Taffer.
He remarked on his previous tax cuts, asserting, “I gave the biggest tax cut ever, bigger than the Reagan tax cuts.”
According to Trump, these cuts led to increased revenue and economic growth, allowing for plans to reduce debt and expand drilling operations.
Turning to electric vehicles (EVs), Trump expressed concerns about the U.S. dependence on China for EV production.
He advocated for a balanced approach, suggesting, “We want to go to all-electric cars, and yet we don’t have what’s necessary for electric cars.
They’re all going to be made in China… We should have hybrids, we should have gasoline-powered cars. And we should also have electric cars at a smaller number.”
Trump criticized the current EV models for their high costs and limited range.
On tariffs, Trump proposed implementing a reciprocal tax strategy to enhance economic and national security.
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He explained, “One of the things I want to do is have a reciprocal tax. If they charge us 100% of the car, we charge them 100%.” He suggested this approach would address trade imbalances and retaliatory tariffs.
In discussing cryptocurrency, Trump defended its potential benefits for the U.S. economy, criticizing President Biden’s stance on the issue. “Biden’s trying to shut it down… He has no idea what the hell it is,” Trump said.
He argued for embracing cryptocurrency to ensure the U.S. remains a leader in the global market.