Donald Trump's speech on the economy Monday puts him in a strong position on the issue on which Hillary Clinton is weakest and politically vulnerable.

Trump offered a series of initiatives, including cuts in the corporate and individual tax rates, that he said would create a "new future" and a "new history" for the country and "show the world America is back—bigger, better, and stronger than ever before."

The agenda he outlined in his speech to the Detroit Economic Club establishes a dramatic contrast with Clinton's plan for stimulating the economy. Trump called it "a night and day contrast." Clinton would rely almost entirely on higher taxes and government spending to spur job creation, especially by building roads, bridges and other infrastructure. Trump emphasizes the private sector and incentives for private investment. "I want to jump start America," he said.

His speech, read from a prepared text and teleprompter, raises the question of whether it represents a pivot away from his gaffe-rich performance over the past two weeks. He has fallen behind Clinton by 5 to 10 percentage points in polls.

Trump didn't ad lib Monday, except to note occasionally the presence of hecklers. It amounted to the fourth day in a row in which he showed the kind of discipline his advisers have urged him to adopt. For Trump, this represents a distinct change in style.

His address was loaded with language about a fresh and prosperous America. "We will make America grow again," he said. Clinton, on the other hand, rarely talks about economic growth, which dropped to 1.2 percent in the first half of this year.

Trump said his plan would trigger the "biggest tax revolution since 1986," when President Ronald Reagan pushed tax reform through Congress and reduced the top rate on individual income from 50 percent to 28 percent. To repatriate an estimated $2 trillion in overseas profits by American firm, he said he would tax that money at a 10 percent rate. The $2 trillion has already been taxed by foreign government.

On this issue, Trump and Clinton are sharply at odds. She has shown no inclination to offer a lower tax rate as an incentive. Instead, it would be taxed at the corporate rate, 35 percent. Trump would cut that rate to 15 percent.

As he has promised in the past, Trump said he would revive the coal and steel industries. The current jobless rate of five percent, he said, is a "hoax." So many Americans have dropped out of the job market that they constitute "a silent nation of jobless Americans."

He vowed to "keep jobs and wealth inside the U.S." and promised to "cut regulations massively" and "remove the anchor driving us down." If elected, Trump said, he would impose a "temporary moratorium" on new regulations. He also said he would kill the federal estate tax.

Trump said he will announce more details of his plan in next few weeks. Among other things, he is expected to phase out tax deductions for the rich, including those for mortgage interest, charitable contributions, and state and local taxes.