Trump claims economic successes in national address despite growing disapproval

US President Donald Trump delivered a politically charged speech on Wednesday on prime time network television, claiming victories during his first year in office despite growing disapproval about the economy.

Trump's speech was a rehash of his recent messaging that has so far been unable to calm public anxiety about the cost of groceries, housing, utilities and other basic goods.

While Trump had promised an economic boom, inflation has stayed elevated and the job market has weakened sharply in the wake of his import taxes.

He announced that the nation's 1.45 million military members would be receiving a $1,776 "warrior dividend", which he suggested was funded thanks to his tariffs, even though they have been partly responsible for boosting consumer prices, financial straining many households.

“The checks are already on the way,” he said of the expenditure, which would total roughly $2.6 billion. The amount of $1,776 was a reference to next year's 250th anniversary of the signing of the Declaration of Independence.

Approval ratings in decline

His holiday wishes came at a crucial time as he tries to rebuild his steadily eroding popularity. Public polling shows most US adults are frustrated with his handling of the economy as inflation picked up after his tariffs raised prices and hiring slowed.

Still, Trump sought to pin any worries about the economy on his predecessor, Joe Biden.

“Eleven months ago, I inherited a mess, and I’m fixing it,” Trump said. “We’re poised for an economic boom, the likes of which the world has never seen.”

2026 will be a test for Trump's leadership as the nation heads into the midterm elections that will decide control of the House and the Senate.

The White House remarks were a chance for Trump to try to regain some momentum after Republican losses in this year’s elections raised questions about the durability of his coalition. He openly leaned into the politics despite television networks' past reluctance to broadcast presidential addresses loaded with campaign-style rhetoric.

For example, in September 2022, networks declined to give the Biden White House a prime-time slot for a speech the then-president gave about democracy because it was viewed as too political.

Trump spoke at a rapid-fire clip with a tone that bordered at times on anger. He responded to the public frustration this year over the economy by making even bolder promises on growth next year, saying that mortgage rates would be coming down and that he “would announce some of the most aggressive housing reform plans in American history.”

Trump brought charts with him to make the case that the economy is on an upward trajectory. He made claims about incomes growing, inflation easing and investment dollars pouring into the country as foreign leaders, he claimed, have assured him that “we’re the hottest country anywhere in the world,” a statement he has frequently repeated at public events.

While emphasising the economy, Trump also faces challenges on other policy fronts.

Trump’s mass deportations of immigrants have proved unpopular even as he is viewed favorably for halting crossings along the U.S. border with Mexico. The public has generally been unmoved by his efforts to end worldwide conflicts and his attacks on suspected drug boats near Venezuela.