Trump says GDP growth will solve debt “very easily”

Questioned on the federal government debt, which this week exceeded for the first time the 40 billion dollars (34.2 billion euros), and whose growth has accelerated after the Supreme Court's decision to lower the tariffs that generated budgetary revenue, Trump stressed that he inherited the debt, but stressed that the current economic performance will solve the problem.

“ This debt has been a problem for 35 years. And what we have now — something we have never had before, although we have seen a lot of it during my first term, as you know — is tremendous growth, and the way to manage debt is through growth, and now we are experiencing tremendous growth,” he noted.

“We have never had a growth like this before. This growth will solve the problem very easily,” the US Head of State added before embarking on the Air Force. One heading to South Carolina for a campaign action for the mid-November elections.

The US economy grew at an annual rate of 1.5% from April to June, although a significantly stronger number is expected for the current quarter.

Journalists also questioned the Republican President about the increase in Treasury bond rates, which at 30 years reached more than 5.3% this week, the highest level since 2007, and if he had given instructions to Treasury Secretary Scott Bessent to intervene in the debt market by announcing a buyback program that slightly reduced rates.

“No, not at all. He [Bessent] is a very capable man. He wanted to do this and he's very good at it. It has a good instinct, an excellent natural talent for the issues of bonds and interest rates”, Trump said.

The US President also launched an apparent military threat to Iran, at a time when the prolonged war increases doubts about the inflation and health of the US economy.

“There are many types of intervention [against Iran], this (economic and financial) is one of them. The maximum intervention is the military and, if we have to resort to it, we will resort to it”, he said.

At the same time, and with the price of high fuel and inflationary pressures accumulating, Donald Trump ‘forgotten’ his promise to always give priority to the “Made in USA” products, and will temporarily suspend tariffs on certain beef imports for the benefit of US consumers.

In particular, the import tariffs of 300,000 tonnes of beef intended for sale as minced meat will be suspended for the next 90 days, the American President announced on the social network Truth Social.

But for producers, this measure is a “cold water bath for the purpose of increasing American cattle,” said Colin Woodall, president of the National Association of Beef Producers, in a statement condemning a decision “that sacrifices long-term stability for short-term public relations.”.

The cost of living is one of the main concerns of voters as the crucial mid-term elections approach, and the Democratic opposition insists that Donald Trump, with his comprehensive tariffs and his war against Iran, is primarily responsible for the high cost of living.