President Donald Trump argued Tuesday that his policies have already helped improve the economy during a meeting with small business owners at the White House.
Trump has been particularly focused on economic concerns since first announcing his candidacy. He has promised to rollback regulations and laws that put an unnecessary strain on employers and their workers. The president listed recent employment and economic growth as indicators he has been successful in that regard.
“Our stock market has reached an all time high today,” Trump told the gathering of small business owners. “They don’t talk about the all time high stock market. And they don’t talk about another factor. Unemployment has just reached a 16 year low. They don’t want to talk about it.”
The U.S. Small Business Administration (SBA) hosted the event alongside the president. SBA Administrator Linda McMahon and White House Adviser Ivanka Trump joined the president prior to holding their own discussion on small businesses.
The Gross Domestic Product (GDP) is another indicator that has looked promising. It tracks the total dollar value of all goods and services produced over a specific time period. The Bureau of Economic Analysis (BEA) found in its advance estimates for quarter two Friday that the growth rate improved to 2.6 percent.
“And I think to me, maybe, the biggest, is that GDP for the quarter just released at 2.6 percent,” Trump said. “That’s so much higher than anticipated. Remember when I said we’ll hit three percent sometime over the period of the next two years.”
Trump added that the country is on the verge of a golden age for small businesses. He highlighted his rollback of burdensome regulations, reduction of environmental protections, and tax reform as critical areas that will help the private-sector thrive. He also promised to help small business owners every step along the way.
“I am very inspired to be in the company of such motivated entrepreneurs,” Trump said. “People that I really respect because I know what it takes, I’ve been there. Believe me, I know what it takes. You are the dreamers and innovators who are powering us into the future. That’s exactly who you are.”
Trump is still early in his presidency making it unclear how his actions contributed to these gains. Former President Barack Obama also saw steady employment gains in his final two years and periodic spikes in GDP growth.