Trump says $19.2 trillion in global investments flowing into US; calls it ‘golden age’

Washington: President Donald Trump has claimed his administration had secured more than $19 trillion in new investment commitments for the United States, saying manufacturers from Asia and Europe were shifting production to America as his trade and economic policies reshaped global supply chains.

Speaking at a rally in Marietta, Georgia, on Wednesday (local time), Trump portrayed the US economy as entering a “Golden Age”, highlighting new manufacturing projects, pharmaceutical investments and energy partnerships while arguing that foreign companies were increasingly choosing the United States over competing destinations.

“In less than two years, actually, in fact, at the end of the first year, but less than two years in my administration, we’ve secured more than $19.2 trillion in new investment from all over the world,” Trump said.

“So think of that. In four years, they did less than $1 trillion. We did $19.2 trillion in 15 months.”

Trump said manufacturers were moving production facilities from several countries to the United States.

“Toyota just announced they’re leaving Mexico and they’re coming in. They’re going to be building the largest plant anywhere in the world,” he said.

“They’re all coming back. They’re all leaving Canada. They’re leaving Mexico. They’re coming in from Germany and Japan and South Korea. They’re coming in from all over.”

The President also pointed to new investments announced in Georgia, including pharmaceutical manufacturing and advanced industrial projects.

“The big pharmaceutical company, UCB, is investing $2 billion to build its first-ever American manufacturing plant right here in Gwinnett, Georgia,” he said.

He added that Japan was investing “$600 million” in a diamond processing facility in the state, while Yamaha Motor was building a new US headquarters in Kennesaw.

Claiming that employment had reached record levels, Trump said, “We have more jobs today than we’ve ever had, and it’s not even close.”

He also linked recent economic performance to rising stock markets and lower inflation.

“The stock market has hit 73 all-time highs since the election,” he said.

“And while the stock market is skyrocketing way up, inflation is way down.”

Trump credited his administration’s tax policies for improving household finances, saying provisions in the recently enacted legislation had eliminated taxes on tips, overtime pay and Social Security benefits for many Americans.

He said 130,000 tipped workers in Georgia had saved an average of more than $7,000 in taxes, while about 700,000 workers in the state had benefited from the “no tax on overtime” provision.

Trump also highlighted the creation of “Trump Accounts”, tax-advantaged savings accounts for children, although he framed them primarily as part of a broader economic agenda to encourage long-term investment in future generations.

Energy also featured prominently in Trump’s remarks. He said the United States was expanding cooperation with Venezuela’s oil sector.

“We’ve already paid for that operation many, many times over. We’re taking tremendous amounts of oil,” he said.

“If you combine us and Venezuela, we have about 62 per cent of the world’s oil market.”

The President argued that his administration’s economic strategy was restoring US industrial competitiveness by encouraging companies to manufacture domestically rather than overseas.

“More money is being invested in the United States right now than at any time in the history of our country,” he said.

“This is the Golden Age of America.”

The investment claims come as the Trump administration continues to pursue an aggressive industrial policy built around tariffs, tax incentives and efforts to encourage companies to relocate manufacturing to the United States. The strategy has increasingly focused on semiconductors, pharmaceuticals, critical minerals, advanced manufacturing and artificial intelligence infrastructure.

IANS