'I inherited a mess, I'm fixing it': Trump vows an economic boom

He insists prices of petrol and groceries that have worried Americans are falling rapidly

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US President Donald Trump promised Americans an economic boom in an address to the nation on the night of Dec 17, while blaming Democratic predecessor Joe Biden for high prices that have hit the Republican's popularity.

"Good evening, America. Eleven months ago, I inherited a mess, and I'm fixing it," the 79-year-old said in his live speech from the White House at the end of his first year back in power.

Mr Trump faces growing voter anger over the issue of affordability despite his efforts to dismiss it as a “hoax” by Democrats, sparking Republican fears they could be punished in the 2026 midterm elections.

The billionaire leader insisted that prices of petrol and groceries that have worried Americans were “falling rapidly, and it’s not done yet. But boy, are we making progress”.

In a surprise announcement, Mr Trump said 1.45 million US military service members would each receive “warrior dividend” bonus cheques for US$1,776 (S$2,300) before Christmas, paid for with revenues raised from tariffs.

He added that the specific amount was in honour of the year of the founding of the US, the 250th anniversary of which the country will celebrate in 2026.

Mr Trump then promised that “we are poised for an economic boom the likes of which the world has never seen” in 2026, when the US will co-host the FIFA World Cup with Canada and Mexico.

But while the White House had billed the speech as a chance for Mr Trump to set out his economic agenda for the rest of his second term, much of it consisted of attacks on familiar targets.

He repeatedly raged against Mr Biden, the Democrats and migrants who he said “stole American jobs”.

Mr Trump’s speech comes at the end of a whirlwind year in which he has launched an unprecedented display of presidential power, including a crackdown on migration and the targeting of political opponents.