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President Donald Trump boasted about the state of the U.S. economy under his administration during his Detroit Economic Club speech Tuesday afternoon, asserting that he had “defeated” inflation and growth was booming.
Kicking off the speech in Michigan, Trump immediately attacked his predecessor – a common talking point for the president – and claimed he had steered the “strongest and fastest economic turnaround” since taking office.
Despite the president’s claims, the Consumer Price Index, released Tuesday morning, indicated inflation remained steady, at the end of 2025, at 2.7 percent but accelerated at a 0.3 percent rate compared to November.
Trump also boasted about his tariffs – a controversial economic policy that had adverse effects on global markets when Trump first unveiled them in April – and defended any criticisms of them.
Trump is in Detroit to promote the U.S. economy and jobs continue to decline and affordability becomes a focus for the president.
The president also toured a Ford factory that makes F-150 pickup trucks, the bestselling domestic vehicle of 2025, before giving remarks.
Trump will announce housing affordability policies at Davos
Trump reiterated that he will announce new policies on housing affordability at the World Economic Forum at Davos next week.
Ariana Baio13 January 2026 19:44
‘We have a real stiff in the Fed’
All day, Trump has been lashing out at Federal Reserve Jerome Powell for not cutting interest rates at a speed and volume that he wants.
In his speech, the president attributed stock market dips, even after good economic news, to investors’ fear that the Fed will raise interest rates. That pattern does occur, but many economists claim it’s justified. “
“You announce unbelievable numbers, and the market goes down,” Trump said.
“We have a real stiff in the Fed, but that’s for another day.”
Ariana Baio13 January 2026 19:43
Trump aggressively defends tariffs
The president has dedicated several minutes to defending his “favorite word:” tariffs.
As expected, Trump is brushing off criticisms of his sweeping tariffs, which sent global markets into a tailspin when he unveiled them in April. He denied that consumers are paying the price for tariffs – despite economists across the political spectrum agreeing that consumers pay the extra cost.
Trump stressed the importance of tariffs, for economic and national security reasons, a claim that comes as the Supreme Court is weighing whether to allow the president to inact the tariffs under the International Emergency Economic Powers Act.
Ariana Baio13 January 2026 19:27
Trump touts US has the strongest economy under his administration
President Donald Trump began his speech by bragging about the strength of the U.S. economy under his administration – claiming inflation was “defeated,” and growth was booming.
As usual, the president insulted his predecessor, former President Joe Biden, and compared the current state of the U.S. to 2024.
Trump said his White House takeover had led to the “Strongest and fastest economic turnaround in our country.”
According to Tuesday morning’s CPI, inflation remained steady in December at 2.7 percent, which was consistent with inflation numbers in November.
Ariana Baio13 January 2026 19:09
Watch Live: Trump gives economic speech in Detroit
Live: Trump gives economic speech in Detroit
Independent Video13 January 2026 19:02
Trump takes the stage at Detroit Economic Club
Trump has taken the stage at the Detroit Economic Club, where he’s expected to give a speech about the state of the economy.
Ariana Baio13 January 2026 18:57
‘Hopefully he’ll be out of there soon’ Trump says of Powell
Continuing to lash out at Fed Chair Jerome Powell, Trump said he was hopeful that Powell would be “out of” the Fed “soon” while touring a Ford factory in Michigan.
“It’s the most expensive job in history and it’s only a renovation. I could have done that job for $25 million; they’re spending billions and billions of dollars. He either doesn’t know what he’s doing or it’s worse than that,” Trump told reporters.
“So hopefully he’ll be out of there soon.”
Powell’s term is up in May.
Ariana Baio13 January 2026 18:47
Trump dismisses necessity of US-Mexico-Canada agreement for autoworkers
During his tour of the Ford factory, Trump praised Ford and other US vehicle manufacturers for building their cars in the U.S. and claimed the country did not need help from Canada or Mexico.
“General Motors is doing really well. Stellantis is doing really well… I just want them to build their product in the U.S.A.,” Trump told reporters Tuesday afternoon.
When asked about renegotiating the US-Mexico-Canada agreement in favor of autoworkers, the president said he doesn’t “think about” the agreement and claimed it “wouldn’t matter” if it were re-negotiated.
“We could have it or not, it wouldn’t matter to me. I think they want it. I don’t really care about it,” Trump said of the agreement.
“No real advantage to it. It’s irrelevant to me. Canada would love it. Canda wants it. They need it because we don’t need Canada product. That’s the thing. I want to see Canada and Mexico do well, but the problem is we don’t need their product,” Trump said.
Trump dismissed the necessity of the USMCA while speaking about domestic vehicle manufacturing (AFP via Getty Images)
Ariana Baio13 January 2026 18:39
Trump does exclusive interview with CBS after touring Ford factory
President Donald Trump conducted a brief exclusive interview with CBS Evening News after touring the Ford factory floor, White House Press Secretary Karoline Leavitt said
Leavitt encouraged people to “tune in” to the show Tuesday evening to hear more from the president.
Ariana Baio13 January 2026 18:19
Ford employees welcome Trump to view production of F-150s
At the Ford Rouge Center, Trump is viewing assembly lines where the Ford F-150 truck bodies are assembled and installed with hose connections, according to reporters on the scene.
Trump, joined by Bill Ford and Jim Farley, is walking around the factory floor, viewing the manufacturing of the popular vehicles.
Ford factory workers cheered when Trump stepped onto the factory floor, according to the report. The president briefly took selfies with some of the employees.
Trump tours the Ford manufacturing floor with executive chairman Bill Ford (far left), Treasury Secretary Scott Bessent (second from left), Ford CEO Jim Farley (second from right) and Corey Williams (far right) (AFP via Getty Images)
Ariana Baio13 January 2026 17:56