President Donald Trump highlighted his administrations financial insurance policies in remarks throughout his Center East journey.
President Donald Trump on Tuesday touted his administration’s financial insurance policies in a speech delivered in Saudi Arabia.
The president is touring by means of the Center East this week in an effort to draw extra funding within the U.S. economic system.
“Most importantly for the people in this room, the days of economic misery under the last administration are rapidly giving way to the greatest economy in the history of the world,” Trump mentioned.
“We are rocking. The United States is the hottest country – with the exception of your country, I have to say right, I’m not going to take that on. No, Mohammed, I’m not going to take that on,” Trump mentioned in reference to Saudi Crown Prince Mohammed Bin Salman. “Wouldn’t that be a terrible thing if I made that full statement? But I will not do it, you’re hotter. At least as long as I’m up here, you’re hotter.”
TRUMP SIGNS ‘STRATEGIC ECONOMIC PARTNERSHIP’ WITH SAUDI ARABIA
President Donald Trump and Saudi Crown Prince Mohammed bin Salman attend a signing ceremony on the Saudi Royal Court docket on Could 13, 2025, in Riyadh, Saudi Arabia. (Photograph by Win McNamee/Getty Photographs / Getty Photographs)
“Groceries, gasoline, energy and all other prices are down with no inflation. We have no inflation,” Trump mentioned.
Forward of his remarks on Tuesday, the Bureau of Labor Statistics launched a report exhibiting that the patron worth index (CPI), a well-liked inflation gauge, was 2.3% in April – down just a little multiple level from the three.4% studying in April 2024. That continues to be above the Federal Reserve’s 2% inflation goal.
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Trump went on to debate the labor market and mentioned, “In a few short weeks, we’ve created 464,000 brand-new jobs. Think of that, that’s almost half a million jobs created in just a matter of weeks.”
The president additionally mentioned the not too long ago introduced commerce settlement with the UK and the take care of China to quickly scale back the tariffs he imposed on Chinese language items, in addition to China’s retaliatory tariffs on U.S. exports, for 90 days whereas negotiators work to formalize a remaining settlement.
Tesla CEO Elon Musk seems to be on as he visits Riyadh with President Donald Trump. (Reuters/Brian Snyder / Reuters)
“We just reached a historic trade agreement with the United Kingdom and over the weekend we reached a breakthrough agreement with China. Both outstanding deals,” Trump mentioned.
“China’s agreed, we have to get it down and we have to get the details down – Scott [Bessent], you’re going to work on that very hard. But China’s agreed to open up to the United States for trade and everything else, but they have to do it, so we’ll see what happens,” he added.
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Trump’s tariffs have spurred elevated volatility in monetary markets this yr amid uncertainty over commerce coverage shifts. (Reuters / Reuters Images)
Trump mentioned that Congress is “on the verge of passing the largest tax cut and regulation cut in American history. We think we’re in good shape to get that, and if we get that, that will be like a rocket ship for a country.”
He additionally mentioned that funding within the U.S. was up “an astounding 22%” within the first quarter of 2025, including that “more than $10 trillion of new investments have been announced or are coming just since the election on Nov. 5.”
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