Donald Trump delivered what was billed as a foreign policy speech in Washington D.C. at the Mayflower Hotel (The venue was moved from the National Press Club because room for more attendees was needed).
For the most part, the speech did stick to his aggressive foreign policy, but there were plenty of hints as to the types of economic policies Trump would adopt as president.
The speech made it increasingly clear that Trump is not an advocate of free markets. He is anti-free market well beyond his absurd mercantilist trade views and seems to view the role of president as manager of the economy.
During his speech, he, of course, made the absurd claim that China was committing "theft of American jobs."
This was expected, though, it does show once again that Trump neither understands comparative advantage nor how jobs are fundamentally created.
And he appears far from a small government budget guy. He said:
"We will spend what we need to restore our military." (He wants a larger standing army, more planes and more ships)How is he going to pay for this? Through cuts elsewhere?
Not quite. He said it will be paid for when he "makes the economy strong so that tax revenues will grow."
Most shocking, he appears to have hinted at a possible national industrial policy. He stated that 3d-printing and artificial intelligence were important growth areas for the country.
Donald Trump: Central planner.