President Donald Trump returned to Michigan to highlight what he called a rapid economic turnaround and renewed strength in the US auto industry.
Trump said the visit marked one year since his return to office and was intended to outline progress and future plans.
After less than 12 months in office, I’m back in Michigan to report to you on the strongest and fastest economic turnaround in our country’s history.
Donald Trump said
He blamed the previous administration for economic instability and claimed his policies had reversed high inflation and weak growth.
We have quickly achieved the exact opposite of stagflation — almost no inflation and super high growth.
Donald Trump said.
Trump said real wages had risen by $1,300 after falling by $3,000 under President Joe Biden.
He claimed fuel prices in the Detroit area had dropped to below $2.30 a gallon.
Trump said record stock market levels were boosting retirement accounts for millions of Americans.
He credited tariffs with attracting trillions of dollars in investment and cutting the federal budget deficit.
Trump said the US trade deficit had been reduced by 62% since his return to office.
Just as I promised you, I’ve imposed a 25% tariff on all foreign automobiles.
Donald Trump said.
He said US auto factories had secured more than $70 billion in new investment.
Trump announced plans to curb institutional ownership of single-family homes and lower mortgage rates through bond purchases.
I proudly called for credit card companies to cap interest rates at 10% for one year.
Donald Trump said.
He also pledged healthcare reforms aimed at reducing insurance premiums.
Trump toured Ford’s F-150 manufacturing plant in Dearborn, where workers applauded expanded production.
We’re going to actually expand one of our existing plants and make a different kind of truck there.
Jim Farley said.
We couldn’t be more excited, we’re adding market share, growing and adding jobs.
Bill Ford said.
Trump also addressed alleged large-scale fraud, including the Minnesota Somali fraud case.
We intend to imprison any fraudster, politician, or public official involved in these sick plots.
Donald Trump said.