Trump says US economy stronger than ever

Ankara, July 8 (IANS) President Donald Trump on Wednesday said the United States was experiencing the strongest economic expansion in its history, citing record investment, manufacturing growth and job creation as evidence that his administration’s policies were transforming the country’s industrial base.

Speaking at a news conference after the NATO summit in Ankara, Trump argued that the United States had regained its economic momentum and international standing.

“It was clear that America is back and we’re stronger and bigger and better than ever before,” Trump said.

“We have more jobs, as I said, than ever before and we’re respected again, like maybe never before.”

The President said businesses had committed unprecedented levels of investment to new factories and production facilities across the country.

“We have the biggest investment ever made, $19.2 trillion.”

“That’s six times more than we’ve ever had.”

“There has never been anything like what’s happened with this country or any other country in the history of the world.”

Trump said the investment was spread across several strategic industries.

“Eli Lilly is building plants, Merck, all of them.”

“The drug companies are building.”

“The car companies are building like crazy.”

He also highlighted rapid expansion in artificial intelligence infrastructure.

“Some of the AI… we let them build their own electric plants.”

“They need, just as an industry, more energy than the entire country produces right now.”

According to Trump, the United States continues to lead China in artificial intelligence development.

“We’re leading China in AI,” he said.

The President said higher manufacturing activity was translating into more employment.

“We have the highest number of jobs right now.”

“We have the most people working in the United States that we’ve ever had in the history of our country.”

Trump also argued that the American defence industry was expanding rapidly as NATO allies increased military procurement.

“We make the best equipment in the world.”

“They all want the American equipment because it works better.”

He said major defence manufacturers were building new production facilities to keep pace with demand.

“Lockheed is building… some of them are building three, four or five.”

“It’s going to quadruple the output.”

Trump predicted waiting times for advanced weapons systems would fall sharply.

“We think within a year, year and a half, max… we’ll be having it on a two-week wait, maybe a one-week wait.”

The President also highlighted new investment in heavy industry, saying the United States would soon host what he described as the world’s largest aluminium plant.

“We’re going to have the largest aluminium plant in the world being built in Oklahoma,” he said.

Trump said the overall economy demonstrated that the United States had regained its competitive edge.

“The world is doing well.”

“Oil is down.”

“We’re doing things that should have been done 47 years ago.”

Economic growth, manufacturing expansion and industrial reshoring have been central themes of Trump’s second-term agenda. His administration has promoted domestic investment in semiconductors, pharmaceuticals, artificial intelligence, automobiles and defence manufacturing while encouraging companies to expand production inside the United States.

–IANS

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