'I Cut It By 67%': Trump Claims Biggest Trade Deficit Reduction In US History, Credits Tariffs

Last Updated:June 24, 2026, 01:12 IST

The US president also took aim at media coverage of the recent conflict with Iran, saying the press had failed to acknowledge America's military position.

United States President Donald Trump on Tuesday claimed his administration had achieved the largest reduction in the US trade deficit in the country’s history, saying it had fallen by 67% as he defended his tariff policies during a speech in eastern Pennsylvania.

“We have the biggest trade deficit cut in the history of our country. 67%!" Trump said.

“I CUT IT BY 67%! That’s why you have all these factories being built," he added, arguing that tariffs had boosted domestic manufacturing.

Trump said his administration had adopted an aggressive trade policy since returning to office.

“We are the hottest country in the world by a lot. I stood up to the trade cheaters, abusers, and violators of the world like no President has ever before. Now I am standing up again because Iran can not have a nuclear weapon," he added.

“I placed 50% tariffs on foreign copper, aluminium, and steel… I placed a 25% tariff on foreign automobiles, and, very importantly, I imposed a 25% tariff on medium and heavy duty trucks so that… American Roads will be filled with American Trucks," Trump added.

‘Generated 32,000 Jobs In Pennsylvania’

Addressing workers in Pennsylvania, Trump also announced fresh employment figures, claiming his administration had created tens of thousands of jobs in the state.

“More Americans are working today than at any time in the HISTORY of our country," he said.

Trump said his administration had helped generate 32,000 new jobs in Pennsylvania, including 2,600 manufacturing jobs.

During the speech, Trump also highlighted declining fuel prices.

“The average price of gasoline nationwide is down $0.60 a gallon just from a short while ago… but remember that our oil in the middle of this conflict was less than it was for Sleepy Joe Biden," he said, while criticising previous administrations over their handling of Iran and its nuclear programme.

“None of them did anything," Trump said.

‘US Can Fly Over Iran’

The US president also took aim at media coverage of the recent conflict with Iran, saying the press had failed to acknowledge America’s military position.

“We can fly over Tehran, just at will, nobody’s going to do anything to us, and then I read the fake news that they’re doing quite WELL! They’re not doing quite well. These people right there, look at all of them, whoa! Whoa! That’s a lot of press!" he said.

“As you know, we just achieved a historic peace agreement with Iran to end the conflict… and most importantly, we are ensuring one thing very importantly— because this is why I did it… Iran will NEVER have a nuclear weapon, and they’ve agreed to that," Trump further added.

Trump further criticised former president Barack Obama over his Iran policy.

“Obama gave them $1.7 billion in green cash on a 747! Piles of cash! They thought they could bribe them into peace," Trump said.

“The only thing they understand is the HAMMER!" he said.

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Prisha Vibhavari

Prisha is the Chief Sub-Editor at News18.com, with more than 10 years of experience in national and international news. She specialises in editorial leadership, sharp news judgment, and high-impact st...Read More

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