Trump targets taxes, TPP in economic policy speech

Republican presidential nominee Donald Trump proposed cutting taxes for corporations and renegotiating the Trans-Pacific Partnership trade agreement when he outlined his economic plans in Detroit on Monday (August 8), in a speech that was repeatedly interrupted by protesters.

The proposals were part of an effort to regain momentum lost during a damaging spate of controversies since the Republican National Convention named him the nominee last month.

In a speech to the Detroit Economic Club, Trump promised to cut taxes on businesses by more than half.

“Under my plan, no American company will pay more than 15 percent of their business income in taxes,” he told the crowd. “In other words. We’re reducing taxes from 35 percent to 15 percent.”

Trump also vowed to renegotiate a 12-nation trade deal worked out by the Obama administration, saying the Trans-Pacific Partnership, or TPP, will be “catastrophic” for Detroit’s economy.

“Just imagine how many more automobile jobs will be lost if the TPP is actually approved. It will be catastrophic. That’s why I have announced we will withdraw from the deal before that can ever, ever, ever happen.”

The speech was repeatedly interrupted by shouting protesters, who were booed by the crowd and escorted out by security. But there were no signs of the violence that has marred someTrump rallies.

The Detroit speech was Trump‘s first on the economy since announcing a 13-man team of economic advisers last week, which held its first conference call on Sunday. It also came after what was widely seen as his worst week as a presidential candidate for the Nov. 8 election.

Trump got entangled in days of dispute with the parents of a Muslim American soldier who was killed in the Iraq war, and sparred with party leaders. Trump‘s rough ride took its toll in opinion polls. A Washington Post-ABC News poll released on Sunday (August 7) gave his Democratic rival, Hillary Clinton, an eight-point lead, 50 percent to 42 percent.

Clinton will offer her own economic vision in a speech in Michigan on Thursday. In a statement ahead of Trump‘s speech, her campaign said his plan would give tax breaks to the wealthy and big companies, and would hurt working families and trigger a recession.