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Today I am also announcing that as part of our tax cuts, we will make interest on car loans fully deductible. So a man who's, a lot of you people are in the car industry, actually I made a lot of them backstage. What do you do? I'm in the car industry. But a lot of them, and I told him about a very knowledgeable person. He said, here's a guy, he's done it all his life, he's sitting right over there, I don't want to embarrass him. But he said, where did you come up with that idea? That's the coolest thing. It's like the paperclip again, right? It's like the paperclip. Somebody comes up with the paperclip and everybody says, why the hell didn't I think of that? Somebody came up with the paperclip, I guess made a lot of money, and other people said, why? But he said, I've been in the car industry all my life, I've never thought about that. So we're going to make it fully deductible, the interest payments, that's going to revolutionize your industry. This will stimulate massive domestic auto production, and make car ownership dramatically more affordable for millions and millions of working American families. This is a phenomenal thing. If I do say so myself. Who likes that idea? Isn't that great?

Transcribed automatically. Expect errors in names and numbers.

Today, I am announcing a detailed plan to save the American auto industry and bring millions and millions of jobs back to our shores and very quickly. If you vote for Trump and you will see a mass exodus of manufacturing jobs, but from Mexico to Michigan, from Shanghai to Stirling Heights, and from Beijing to right here in beautiful Detroit. Wait till you see Detroit. And they'll also be going to places like South Carolina, Tennessee, and others. We have a lot of car making states, a lot of parts making states, too. And our car industry will have a renaissance, the likes of which we have never seen before in this country. We have never seen since the golden years. It's my goal to get our country on an auto making path, where at some point in the near future it will be bigger and more important than it ever was. And even in its heyday many years ago, it was unbelievable. I think we can be bigger and more important because we have some very, very great assets. And this is very personal for me, personal. One of the reasons is because I've been talking about it for 20 years. I can't believe it happened. That was the when I was honored. That's all I talked about. I was watching this happen. It was at that time, Japan, Japan was just taking our cars like we were a bunch of babies. I always say candy from a baby. That's how easy it was. Now it's Japan, but it's China and it's a lot of countries. This was one of the biggest reasons I ran for president in the first place. You know, it was probably the auto industry that was most abused. You were the most abused. There are a lot of industries that are abused. We stopped it, but now I could put the brakes on it. Not only stop, I now know the game a little better. You know, I had never been a politician before. I got to the White House. I said, yeah, I've never done this before, but I had to learn and I had some great people. Bob Lighthizer was great, our trade representative, but we had some people that I didn't like. I wouldn't have picked, in retrospect, we had some clinkers. But you have to understand, I just got there. I was only in Washington 17 times and I never stayed over. So I wasn't a part of Washington society. It wasn't my thing. I was a New York person, developer, did great. And I knew New York, but I didn't know Washington. So I came, I had to rely on people. Sometimes I'd rely on rhinos and that's what I'd get. I'd get a rhino. And that wasn't so good. But we had mostly great people, but we had some ones that I would not have again. And we're going to finish the job that we really brilliantly started because we had numbers that the ambassador gave you some of them. I don't want to bore you by going through it, but he gave you some numbers that were unprecedented.

Transcribed automatically. Expect errors in names and numbers.