US presidential candidate Donald Trump says he will formally notify Mexico and Canada of his intention to renegotiate a free trade deal with them if he is elected president. He aims to step up tariffs on Chinese cars imported from Mexico.
Trump made the comment in his speech on Thursday in Detroit, Michigan, where the auto industry is an important part of the economy. Michigan is also one of the swing states in the election.
The Republican presidential candidate said that China is currently building auto plants in Mexico, and plans to export cars to the United States.
Trump said “I will impose whatever tariffs are required — 100 percent, 200 percent, 1,000 percent. They are not going to sell any cars into the United States with those plants.”
Trump also said he will make interest paid on auto loans fully tax-deductible, amid rising car prices and interest rates.
He stressed his intention to protect the US auto industry in an apparent attempt to win more votes from autoworkers with less than one month to go until the presidential election.