President talks up strength of US economy in advance of midterm elections

In a speech delivered in Iowa on January 28, 2026, President Donald Trump promoted the strength of the US economy, calling his first year in office the "greatest" start in US history. Trump highlighted the stock market's performance and a $70 million investment by Deere & Co, attributing economic success to his tax cuts and tariffs. The speech aimed to shift focus from growing outrage over two fatal shootings by US border and immigration agents in Minnesota. Trump warned that a Democratic victory in the upcoming midterm elections would jeopardize economic gains. He accused Democrats of exaggerating cost-of-living concerns for political gain. The speech was part of an effort to rally support in a Republican stronghold ahead of the midterms.

President Trump is shifting his focus to the domestic economy after a year that started with international affairs. On Tuesday, he traveled to Iowa to discuss affordability, signaling a renewed emphasis on economic issues. This Iowa trip may be the start of a series of monthly speeches in various US cities and states. The move comes after Trump expressed concern that the positive state of the US economy is not being effectively communicated to the public. White House correspondent Bernd Debusmann explains that the president's attention has pivoted back to the economy.

Ahead of a speech in Iowa, US soybean farmers are concerned about potential trade blowback from China due to escalating tensions between Washington and Beijing. Farmers like Randall Shelby fear that President Trump's foreign policy actions, while intended to benefit the US, could provoke retaliatory measures from China, a major soybean importer. This could further erode the US share of the Chinese market, benefiting South American producers. Shelby, a Trump supporter, worries that these geopolitical maneuvers may not yield positive results for farmers and could negatively impact their livelihoods. The concerns arise as Trump aims to reassure farmers in Iowa, a key soybean-producing state, before the upcoming midterm elections.