Former US President Donald Trump has vowed to reverse restrictions imposed by President Joe Biden on fossil fuel production. (Source: AP)

In a 75-minute speech to supporters, former President Trump laid out a series of policy ideas, making a broader commitment to tackling inflation, boosting energy production and raising the standard of living for Americans.

He has vowed to reverse President Joe Biden's restrictions on fossil fuel production, use every tool necessary to cool inflation in his first year in office, and repeal all taxes on Social Security benefits.

"Economic growth will be enough to help the US pay off its debt, while also committing to reducing energy prices by 50-70% in 12-18 months," Mr. Trump emphasized.

If he wins the election, the Republican candidate has vowed to increase permitting for exploration on federal land, ease pipeline permitting, and take other steps to lower consumer prices.

Besides the economy, Mr. Trump also spent much of his time highlighting differences with the Democratic Party regarding familiar issues such as the US-Mexico border.

He did not forget to attack his opponent Kamila Harris - the Democratic candidate on a number of issues such as supporting a ban on the use of fracking technology to exploit shale oil and gas.

For her part, Ms. Kamila Harris is scheduled to arrive in North Carolina on August 16 and give a speech on economic policy in Raleigh.

A member of her campaign said Ms Harris would outline a plan to reduce costs for middle-class families and address price increases by companies.

Harris’ campaign is expected to spend $90 million over the next three weeks to boost the Democratic Party’s image among voters, her campaign’s biggest investment yet with just over two months to go until the election.

Polls show that Vice President Harris is gradually narrowing the gap with Mr. Trump, since she represented the Democratic Party in the race to the White House.

A new poll conducted by the Associated Press-NORC Center for Public Affairs Research found that Americans are more likely to trust Trump than Harris in handling economic issues. However, the difference is not large, with Trump receiving 45% support, while Harris's figure is 38%.