From Detroit, Trump presents an economic balance of his Administration: 'We achieved the strongest and fastest economic turnaround in our country's history'

President Donald Trump on Tuesday delivered a speech at the Detroit Economic Club focused on the economy, after touring Ford Motor Company's River Rouge Complex in Dearborn, Michigan. The president took the stage accompanied by the patriotic song God Bless the USA by Lee Greenwood, and was received with a standing ovation by the audience.

During his speech, Trump highlighted economic data and policy lines he has recently put forward, presenting the event as a balance of his first months in office. From Michigan, a key state for the auto industry, he stated that growth, investment and incomes are increasing, while inflation has been contained.

"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," he said.

Manufacturing and auto sector

Trump referenced his visit to the Ford plant, which he described as a historic symbol of the U.S. auto industry. He noted that, after more than 100 years, the company continues to operate as one of the main references of domestic manufacturing.

In this context, he reiterated that his Administration imposed a 25% tariff on foreign automobiles. As he indicated, that measure has spurred more than $70 billion in new investment in auto factories within the United States, with a significant portion concentrated in Detroit.

Inflation, growth and markets

The president said that core inflation for the past three months stands at 1.6% and that the Gross Domestic Product is exceeding expectations, with one of the fastest growth rates in years. He also noted that the stock market is at its highest level in history, with multiple records achieved since his election.

"The stock market is now the HIGHEST in history— including 52 new ALL-TIME RECORDS set since the election," he said.

Trump contrasted these results with the previous Administration, asserting that during Joe Biden's four years less than one trillion dollars in new investments in the United States was achieved, while under his administration commitments for more than 18 trillion dollars from different countries have been announced.

Wages, consumption and housing

During the speech, Trump argued that wages have increased since his arrival at the White House, after having fallen during Biden's presidency. He mentioned specific increases for construction, factory and other workers, as well as a reduction in gasoline prices in the Detroit area.

On housing, he reiterated his proposal to ban large institutional investors from buying single-family homes across the country. He also noted that the average 30-year mortgage recently fell below 6%. In addition, he called on credit card companies to cap interest rates at 10% for one year.