US President Donald Trump on Friday claimed that the American economy was “soaring”, pointing to record stock market performance, rising exports, increased investment and tax cuts as signs that the country had entered a new period of economic growth.In a post on his Truth Social platform, Trump said the latest quarter had been the strongest for US markets since his previous term in office. He highlighted gains in the S&P 500, Nasdaq and Dow Jones Industrial Average, saying the rally was boosting Americans’ retirement savings.“The Trump Economy is soaring!” Trump wrote. “The Stock Market just completed its BEST QUARTER since the last time I was President. The S&P 500, Nasdaq, and Dow are all SURGING, sending Americans’ 401(k)s higher and higher.”
Trump highlights tax cuts, trade and investment
Trump also credited his administration’s economic policies for increasing household incomes and boosting domestic manufacturing.“My Working Families Tax Cuts mean MORE MONEY IN AMERICAN POCKETS,” he said, adding that the US trade deficit continued to narrow while exports were reaching record levels.“America is building more, producing more, and selling more than ever before. Trillions of Dollars in new Investment brought in by my Administration mean more Factories, more Jobs, and more Opportunity for Americans. This is WINNING. The Golden Age of America is beginning — and we are just getting started!” Trump wrote.The remarks come a day before the United States marks the 250th anniversary of its Independence.
Comes ahead of Independence Day celebrations
Earlier, Trump described the US as “the most successful, most accomplished, most exceptional nation ever to exist in human history” during remarks ahead of the country’s Independence Day celebrations.Speaking at Mount Rushmore, he said America was entering a “Golden Age” driven by prosperity, self-government and economic strength. He argued that the country had created an exceptional model of liberty and opportunity unmatched in history.Trump has also repeatedly promoted his economic record in recent interviews. In a CNBC interview reported earlier, he said the US was witnessing more factory construction than ever before, record employment levels, rising wages and all-time highs in retirement accounts and stock markets.He added that he believed his current term would outperform the economic achievements of his first presidency.