President Donald Trump declared that inflation “has been defeated” and the U.S. border is “totally closed” while promoting tariffs, tax cuts, and new trade initiatives in a political push aimed at the midterm elections. Speaking to supporters in Iowa, Trump claimed his administration achieved “the most dramatic one-year turnaround of any country in history,” highlighting rapid economic growth, rising incomes, and increased investment.
Trump repeatedly credited tariffs for spurring industrial growth and attracting unprecedented capital into the United States. He cited manufacturing expansion and noted that “since the election, the stock market has had 52 all-time highs,” adding roughly $9 trillion in value to savings, retirement accounts, and 401(k)s. He contrasted this with the previous administration, asserting that President Joe Biden had secured “less than $1 trillion in new investment” over four years, compared with his administration’s $18 trillion commitments in just one year.
He highlighted provisions of what he called the “Great Big, Beautiful Bill,” including “no tax on tips, no tax on overtime, no tax on Social Security for seniors,” and emphasized support for service-industry workers. On trade, Trump said the administration had reduced the trade deficit by 77 percent and secured export commitments from countries including Japan, the UK, Australia, China, and the European Union for products such as ethanol, beef, pork, dairy, soybeans, and soybean oil. Farmers received $12 billion in relief, funded by tariff revenues, and Trump pledged support for year-round E15 ethanol.
Immigration and public safety featured prominently. Trump said the southern border was “totally and completely closed,” claiming only legal entry was allowed. He touted historic drops in crime and homicide rates, a 21 percent reduction in drug overdose deaths, and the designation of drug cartels as foreign terrorist organizations.
Citing polling, Trump argued that Republicans led on key issues such as the economy, immigration, and crime, framing the midterms as a pivotal moment to preserve tax cuts and policy priorities. He concluded by emphasizing a renewed national spirit: “America is back. Our border is secure, our spirit is restored, inflation is stopped, incomes are up, prices are down.”
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