President Donald Trump told the Detroit Economic Club on Tuesday that a “Trump economic boom” is firmly underway, insisting the U.S. economy is outperforming other nations by wide margins and drawing unprecedented global investment.
Trump said the United States is growing at a rate “three to four times” that of other major economies and asserted the American economy is “the best on the planet.” “The results are in, and the Trump economic boom is officially begun,” he stated.
A key point in Trump’s remarks was the volume of investment he says his administration has secured since returning to office. Trump claimed that in less than a year he has locked in more than $18 trillion in investment commitments from countries and corporations around the world — far exceeding the investment totals achieved during the four years under President Joe Biden, which he said amounted to less than $1 trillion.
According to figures cited by the White House, some of the largest sources of investment include the United Arab Emirates with $1.4 trillion, Qatar with $1.2 trillion, and Japan with $1 trillion. Major U.S. and international corporations also feature prominently, with technology giants and other firms committing hundreds of billions each.
Trump emphasized that the strong economic momentum he is touting follows difficult conditions inherited from the previous administration. He said that under Joe Biden, the country experienced “a colossal stagflation catastrophe,” with inflation reaching levels not seen since the 1970s. Trump said his policies rapidly reversed those trends, bringing inflation down and pairing it with robust economic growth.
Citing recent data, Trump noted that core inflation over the past three months was just 1.6 percent and that GDP growth in the third quarter rose at a 4.3 percent annual rate. He added that projections for fourth‑quarter GDP were even stronger, at 5.4 percent, casting the performance as “smashing expectations.”
Trump also pointed to rising wages for American workers. He said wages for the typical private‑sector worker had increased significantly during his presidency after declines under Biden, and that wage growth is now outpacing inflation.
Another highlight of Trump’s economic remarks was the strength of financial markets. He said the stock market was “now the highest in history,” and he stressed the importance of rising markets to retirement accounts and 401(k) balances for millions of Americans.
Throughout his speech, Trump connected these economic gains to his administration’s policies and contrasted them with the struggles he attributes to the previous Democratic administration. His comments at the Detroit event reflect a broader campaign theme of economic success and American global leadership in investment and growth.
