ALSO READDonald Trump's Mann Ki Baat: Restoring American manufacturing a priority Donald Trump and Narendra Modi: A similar agenda US exit from Paris Accord: A fact-check on Trump's climate change theories Jobs, climate, steel highlight Trump's effect on the G20 Paris climate accord: Trump ready to blink, says 'something could happen'
The manufacturing jobs are coming back to America, President Donald Trump has said, asserting that his administration has already created tens of thousands of new jobs and is working to improve US' business climate.
Proclaiming October 6 as the national day of manufacturing, Trump said American manufacturers were consistently finding new ways to incorporate advanced technology into the traditional assembly line to produce previously unfathomable breakthroughs in areas like aerospace, medicine and computers.
These manufacturers are writing their chapter in the story of American innovation while providing countless job opportunities to machinists, designers, computer programmers and engineers among others, he said yesterday.
"Plants and companies are coming back into our country. You see it with announcements now from automobile companies to every kind of company. They're coming back in and, perhaps, even more importantly, they don't want to leave anymore because they know they're leaving a very good thing," Trump said while signing a national manufacturing day proclamation.
He said manufacturing jobs are coming back to the US and his administration has already created tens of thousands of new manufacturing jobs.
In 2016, manufacturing contributed more than 11 per cent to America's gross domestic product and employed more than 12 million workers.
The American manufacturers of the 21st century employ innovative minds equipped with problem-solving skills and knowledge steeped in science, technology, engineering and mathematics to build their incredible products, Trump said.
It is no surprise, then, that manufacturing workers earn higher annual salaries on average than similar workers employed in other sectors, he said.
Trump said if Congress acted on his historic tax cut, the largest in the history of the country, and also on his tax reform, the figures would grow even more.
Under the current law, products made in America are taxed at a marginal rate of 35 per cent, and sometimes much higher than that, putting manufacturers at a tremendous disadvantage to the manufacturers in other countries.
"We want to dramatically reduce the tax on American manufacturers so that we can compete and win on the world stage. The receptivity to what we're proposing is fantastic. We're keeping our companies, and the companies are coming back in. And perhaps, most importantly, we're making our workers happy, and they love to work," he said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)