President Trump Touts Economic Gains and Defends Tariff Policy in Wall Street Journal Op-Ed
WASHINGTON — In a statement released on January 31, 2026, President Donald J. Trump offered a robust defense of the historic tariffs implemented during the first year of his second term, arguing that his “America First” economic agenda has defied the grim predictions of financial experts and ushered in a period of unprecedented growth.
Citing a recent opinion piece published in The Wall Street Journal, the President highlighted a series of economic indicators to support his claim that the administration has engineered an “economic miracle.” President Trump noted that despite warnings from critics that broad tariffs would trigger a global recession, the United States has instead experienced surging Gross Domestic Product (GDP) and a stabilizing stock market.
According to the figures presented by the President, the U.S. economy grew at a rate of 4.4% in the third quarter of 2025. He further noted that projections from the Atlanta Fed place fourth-quarter growth above 5%, despite a government shutdown occurred the previous autumn. Addressing concerns regarding the cost of living, President Trump stated that annual core inflation has dropped to 1.4% over the past three months, arguing that this data disproves the traditional economic theory that high growth necessarily leads to high inflation.
“The ‘experts’ predicted market crashes, massive inflation and recession. They were all wrong,” the President stated. He pointed to the performance of the stock market as a primary metric of success, claiming 52 record highs since his 2024 election victory and suggesting that the Dow Jones Industrial Average could soon breach the 50,000 mark.
A significant portion of the President’s statement was dedicated to contrasting his economic performance with that of the previous administration. President Trump characterized the economy under President Joe Biden as one defined by “stagflation,” asserting that previous policies cost the typical American family $33,000 in real wealth. Conversely, he claimed that under his current administration, real incomes for typical workers have risen by $1,000 to over $2,000 in the last year, with wage growth outpacing consumer prices.
The President also addressed the mechanics of the tariffs directly, pushing back against the assertion that such levies function effectively as a tax on American consumers. Citing a study attributed to the Harvard Business School, President Trump argued that foreign producers and intermediaries are absorbing at least 80% of the tariff costs to maintain their market position. He emphasized that the federal budget deficit has been reduced by 27% in a single year, while the monthly trade deficit has been slashed by 77%.
Beyond domestic metrics, the statement detailed substantial foreign investment commitments secured through the administration’s trade posture. President Trump announced that his policies have attracted over $18 trillion in investment commitments in less than a year. Specific figures highlighted include over $70 billion from global automakers, $500 billion from pharmaceutical companies to reshore medication production, and significant investments in the semiconductor sector from companies such as TSMC, Micron, and Nvidia.
The President further linked his tariff strategy to geopolitical stability and national security. He touted new trade agreements with major economies including China, the European Union, the United Kingdom, and Japan. The statement notably claimed that the economic leverage provided by tariffs played a crucial role in settling eight international conflicts, including tensions between India and Pakistan.
Specific international deals mentioned include a $150 billion investment from Korean companies to revive the U.S. shipbuilding industry, a partnership with Japan to construct a natural gas pipeline in Alaska, and an agreement with European nations to purchase $750 billion in American energy.
The President concluded his remarks by reaffirming his stance that tariffs are a tool for both prosperity and peace, suggesting that the economic data from the past year validates his long-standing approach to international trade.
