President Donald Trump on Tuesday declared the beginning of an economic boom under his administration during a speech in Detroit, Mich.

"The results are in and the Trump Economic Boom has officially begun," he said. "In 4 years of Biden, they secured less than $1T of new investment in the United States... in less than one year, I have secured commitments for over $18 trillion dollars from all over the world the most ever for any country."

Trump made the remarks in the wake of favorable economic data showing the December inflation rate at 2.7%. Inflation ranked among the top economic concerns for voters during the 2024 election.

But Trump's remarks largely focused on his securing of promised foreign investment as part of his trade negotiations with other nations. Among the largest investment pledges was a $550 billion investment plan from Japan, which he secured as part of a row over his "Liberation Day" tariffs.

Other trade partners, such as South Korea and Saudi Arabia, have made similar pledges.

Ben Whedon is the Chief Political Correspondent at Just the News. Follow him on X.