Davos 2020: Donald Trump hails US recovery and UK trade deal hopes

Outside the conference hall, Trump speaks to reporters. He reckons his speech was “well received” and notes that “200 of the biggest companies in the world were in the room” – many of which will be investing in the US, he claims.

That means jobs, that means economic development. We are doing well and we are going to do a lot better.

He reiterates that he is a “big believer in the environment” and talks about planting a trillion trees.

On Brexit, Trump says he hopes to agree a tremendous trade deal with the UK, adding that PM Boris Johnson also wants to do this.

The US president has praise for the UK’s leader Boris Johnson, calling him “a wonderful new prime minister” who “wants very much to make a deal” on trade [following Brexit].

On to trade… Trump says negotiations with China on a Phase Two trade deal will start shortly. Last week, the world’s two biggest economies finally signed the long-awaited Phase One agreement.

Our relationship with China has right now probably never been better. We went through a rough patch but now we love each other, he says, referring to China’s leader.

Trump continues to trumpet his achievements, now turning to families with children, saying his administration had doubled child tax credit for 40m American families. He then adds America has some of the lowest taxes in the world.

Tremendous wealth is pouring into areas that for 100 years saw nothing.

There is no better place on earth than the United States.

No Trump speech is complete without a pop at the US central bank.

The president says that the economic boom has happened “despite” the US Federal Reserve, which “raised rates too fast and cut them too slowly”.

The time for scepticism is over. People are flowing back, he says, thanking business leaders who have moved factories into the US.

I hold up the American model as an example to the world, Trump declares. Pro worker, pro citizen, and pro family.

America is enjoying a blue-collar boom, Trump insists, citing wage data showing that those at the bottom are seeing stronger wage growth.

He tells his audience of global elite:

The American dream is back, bigger and better than before

60,000 factories we’re lost under the last administration, and we’ve gained 12,000 on my watch, Trump adds (a claim that was rated as broadly true recently).

We’ve gained 7 million jobs since I took over, Trump continues — saying he had this target in his head when he took over but didn’t mention it (hmmm).

The president cites the good progress on unemployment, for minority groups and women.

And he then claims to be tackling inequality and spreading wealth. That’s questionable, given the world’s top billionaires (many Americans) became 25% richer last year.

Trump takes the podium, saying it’s an honour to be at WEF.

And he’s straight into banging the drum about how well America is doing.

I’m proud to say that the US is in an economic boom, the likes of which the world has never seen before, says Trump.

America is thriving, flourishing, and winning like never before, he continues, citing the trade deals signed last week with China, and Mexico-Canada. Those deals are a model for the 21st century, he claims

He claims the US was flagging when he took over, and that pessimism had taken root among business leaders and other influential figures. But under his watch, things are improving