In a bold defense of his economic policies, former US President Donald Trump has declared that his sweeping tariff measures have engineered what he calls an "American economic miracle." Dismissing widespread warnings about potential global economic fallout, Trump asserted that critics of his aggressive trade strategy have been proven completely wrong.
Wall Street Journal Op-Ed Makes Strong Claims
In an opinion piece published in The Wall Street Journal, Trump detailed how the tariffs he imposed on nearly all foreign countries in April of last year have, in his view, strengthened the US economy rather than triggering the global economic meltdown that many skeptics had predicted.
"When I imposed historic tariffs on nearly all foreign countries last April, the critics said my policies would cause a global economic meltdown," Trump wrote, as quoted by news agency ANI. "Instead, they have created an American economic miracle, and we are quickly building the greatest economy in the history of the world, with other countries doing just fine!"
Specific Economic Metrics Cited
The former president presented several specific economic indicators to support his claims:
- The American economy growing at 4.4 percent with inflation at just 1.4 percent
- Real incomes for US workers rising by between $1,000 and $2,000
- 52 stock market highs since his 2024 election
- The Dow Jones Industrial Average potentially breaching the 50,000 mark soon
- A 27 percent reduction in the federal budget deficit in a single year
- A 77 percent slash in the monthly trade deficit
Trump emphasized that these achievements came "all with virtually no inflation," challenging conventional economic wisdom about the relationship between tariffs and price increases.
Trade Agreements and Geopolitical Impact
Beyond domestic economic metrics, Trump pointed to trade agreements with numerous countries including China, the UK, the European Union, Japan, South Korea, Vietnam, Indonesia, the Philippines and Malaysia. He claimed these deals had successfully blunted retaliation against the US while strengthening American economic security.
Perhaps more controversially, Trump made broader claims about the geopolitical impact of his tariff policies, arguing they had bolstered US national security and even contributed to peace-making efforts. He asserted—without providing evidence—that tariffs had helped resolve several conflicts, including what he described as mediation between India and Pakistan.
Contrasting Economic Narratives
Trump positioned his economic record as a dramatic turnaround from what he inherited, describing the economy he took over as "ravaged" and noting he was initially accused of pushing the world toward recession.
"Nine months later, the results are in, every one of those predictions has proven completely and totally wrong," he wrote, adding pointedly that since his election in 2024, the US had seen 52 stock market highs.
A Defiant Conclusion
Concluding his article with characteristic bravado, Trump urged critics to acknowledge his record and even suggested they should wear his "favourite red hats" bearing the slogan: "TRUMP WAS RIGHT ABOUT EVERYTHING!"
"Just over one year ago, we were a 'DEAD' country. Now, we are the 'HOTTEST' country anywhere in the world," he wrote, encapsulating his view of the dramatic economic transformation he claims to have engineered through tariff policies that many economists and trade experts had warned against.
The former president's claims come amid ongoing debates about the long-term impacts of protectionist trade policies, with economists continuing to analyze whether the benefits Trump cites outweigh the costs to global trade relationships and consumer prices.
