President Donald Trump took center stage at the White House during an ‘Invest in America’ event this afternoon, highlighting his administration’s efforts to boost domestic investment. The event attracted top executives from major corporations, including tech giant Nvidia. Those interested were able to follow the event live through a broadcast link provided on the official platform.
Earlier in the day, Trump convened a Cabinet meeting with his senior leadership team, where he lauded the impact of tariffs on strengthening the American economy. He praised businesses that have committed to investing within the United States, asserting that these actions were signs of a healthy and resilient economy despite recent concerns.
This series of public engagements came on the heels of a troubling new economic report indicating that the U.S. economy contracted at an annual rate of 0.3% during the first quarter of the year. This downturn, attributed to companies stockpiling imports ahead of Trump’s tariffs, marks the first time the economy has shrunk since 2022. The move to accumulate imports was widely seen as a preemptive strategy by firms anticipating cost increases due to upcoming tariff policies.
Despite the contraction, President Trump remained steadfast in his defense of tariffs and dismissed suggestions that his trade policies were to blame. Instead, he shifted the focus to his political opponent, President Joe Biden. “Bad numbers” on Wall Street, Trump claimed, “have nothing to do with tariffs.” His comments suggest an effort to reframe the economic narrative, distancing himself from the contraction and placing blame squarely on the Biden administration.
While Trump’s comments dominated the headlines, another significant development unfolded more quietly in the background. The United States and Ukraine have reached a major economic agreement concerning the development and management of rare earth minerals, a critical area in both geopolitical and technological terms. According to information obtained by the BBC, the two nations have agreed to form an economic partnership designed to support Ukraine’s post-war recovery and bolster U.S. access to strategic resources.
A press release issued by the U.S. Treasury Department confirmed this, stating that both countries would collaborate through the creation of a “Reconstruction Investment Fund.” The purpose of the fund is to ensure that “mutual assets, talents, and capabilities” can be leveraged to expedite Kyiv’s recovery and contribute to long-term regional stability. This fund marks a new chapter in U.S.-Ukraine relations, reinforcing economic ties while addressing strategic concerns about resource dependency.
Meanwhile, Trump used the ‘Invest in America’ platform to make a series of economic claims, particularly about consumer prices under his leadership. One of his key assertions was that gasoline prices have declined since he took office. However, recent fact-checking by BBC Verify found that this claim does not align with current data.
According to the American Automobile Association (AAA), the average national price for regular gasoline now stands at $3.16. This figure actually represents a slight increase from the $3.125 average on the day Trump assumed office. Despite Trump’s repeated claims that gas prices “just hit $1.98 in a lot of states,” BBC Verify was unable to find any evidence supporting this. Data from AAA confirms that no state currently has an average gas price lower than $2.67.
Another economic metric highlighted by Trump was the price of eggs. During his White House remarks, he insisted that egg prices had fallen since he became president. BBC Verify reviewed this statement and, again, found no supporting data.
When Trump entered office in January, the average national retail price for a dozen large Grade A eggs was about $4.95. Since then, the cost has not gone down but instead reached a record high of around $6.23 per dozen in March, based on the most recent available data. This contradicts Trump’s public statements and underscores a disconnect between his messaging and verified consumer price trends.
The White House, in its defense, has pointed to wholesale prices as evidence of improvement in the egg market. According to data from the U.S. Department of Agriculture, wholesale prices for large white eggs have decreased significantly. From a high of $6.55 per dozen in January, prices have dropped by approximately 52%, landing at $3.15 in the past week. This drop, while notable, reflects wholesale trends rather than retail prices experienced directly by consumers.
These contradictions between the president’s statements and independent data have raised questions about the administration’s broader economic messaging strategy. While Trump continues to paint a picture of economic strength, citing falling prices and increasing domestic investment, analysts and fact-checkers warn that the reality is more complex.
Still, Trump’s core message appears focused on long-term growth through protectionist policies and strong international partnerships. By praising businesses that reinvest in American infrastructure and forming economic alliances with key global players like Ukraine, he aims to project confidence in his administration’s economic vision, despite immediate challenges.
Trump’s day at the White House was marked by a dual focus on promoting domestic investment and defending his economic policies in the face of troubling data. He offered strong support for tariffs, insisted consumer prices were improving, and announced a strategic deal with Ukraine. However, some of these claims, especially regarding gas and egg prices, do not stand up to independent verification. The contrast between political rhetoric and economic data continues to be a defining feature of the current discourse, as Trump positions himself for future challenges.