on Thursday said he would take steps to prevent Chinese carmakers from selling vehicles in the US as part of his plan to save the American auto industry.
The former president also proposed making interest on car loans fully tax-deductible, saying this would “stimulate massive domestic auto production” and “make car ownership dramatically more affordable” for millions of Americans. “US-based car makers and manufacturers will also be rewarded with expanded research and development tax credits, very substantial, where they will be able to write off 100 per cent of their cost of heavy machinery and other equipment necessary to build a plant in the first year, and full expensing for manufacturing investments,” he said.
“We’re going to give anybody that comes in free access to the best and biggest market anywhere on the planet,” he said on Thursday, without excluding China.