President Donald Trump, in Miami, brags about the economy despite an
election-night rebuke
[November 06, 2025]
By SEUNG MIN KIM
MIAMI (AP) — President Donald Trump took a victory lap on the economy on
the one-year anniversary of his successful election, boasting of cheaper
prices and saying the U.S. is the envy of the globe even while the
Republican Party faced a rebuke from voters anxious about their own
finances in Tuesday's off-year elections.
Trump, speaking Wednesday at the America Business Forum, said he thinks
that communication was the problem, insisting that “we have the greatest
economy right now” and that “a lot of people don't see that.”
“These are the things you have to talk about,” Trump told a packed arena
at Miami's Kaseya Center that included top business executives, global
athletes and political leaders. “If people don't talk about them, then
you can do not so well in elections.”
It marked a significant effort from Trump to put a positive spin on the
economy at a time when Americans remain uneasy about the cost of living
and their own financial security — and when major campaigns in Tuesday's
elections — from New York to Virginia — were centered on affordability
and the economy.
Trump's comments echoed sentiments from his predecessor, Joe Biden,
whose White House insisted that the Democrat's political standing would
improve if they better communicated his economic accomplishments.
‘These are the things you have to talk about’
Trump speech often deviated from the topic at hand, and included a call
for South Africa to leave the Group of 20. But he made sure to
underscore what he saw as his economic successes.
On digital assets, Trump said that “crypto was under siege; it's not
under siege anymore.” He pointed to declines in egg and gas prices, and
the interest rate, despite the “nincompoop” at the Federal Reserve, a
reference to Fed chairman Jerome Powell. Trump referred to his pledge to
dissolve 10 existing regulations for every new one he issues, and said
“so far for nine months, we're exceeding that.”
Despite Trump’s promises to tame inflation and unleash growth, the AP
Voter Poll survey, which included more than 17,000 voters in New Jersey,
Virginia, California and New York City, suggested the public was
troubled by higher prices and fewer job opportunities. Republicans
handily lost key races in Virginia and New Jersey, and the president
acknowledged Wednesday that the ongoing government shutdown, with
effects rippling through the economy, was “negative for the
Republicans."
He also touched on how his trips abroad are benefiting the U.S. Trump
spent five days in Asia last week with stops in Malaysia, Japan and
South Korea. He worked to ease trade tensions with Beijing in a meeting
with Chinese leader Xi Jinping. In Tokyo, he promoted several major
energy and tech projects for the U.S. that will be funded by Japan.
The event was sponsored by Saudi Arabia's sovereign wealth fund
Miami's Republican Mayor Francis Suarez said he thinks Trump’s recent
travels “have been transformational in his presidency” and cast his
speech as a highlight of the forum, which organizers have described as a
more accessible version of the World Economic Forum in Davos,
Switzerland, or the Milken Institute Global Conference, which gathers
the world’s elite for discussions on the economy.
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President Donald Trump speaks at the America Business Forum,
Wednesday, Nov. 5, 2025, in Miami. (AP Photo/Rebecca Blackwell)
Political leaders, business executives and athletes including tennis
legend Serena Williams and soccer star Lionel Messi are among the
speakers at the forum inside Kaseya Center, the home of the NBA's
Miami Heat that had been transformed with an elaborate, futuristic
stage where speakers are introduced with a light display and
machines shooting smoke into the air.
It's primarily sponsored by Saudi Arabia's sovereign wealth fund,
known as the Public Investment Fund, which is a key pillar of Crown
Prince Mohammed bin Salman's plans to pursue megaprojects and
investments abroad.
“This conference not only is creating this incredible collection of
people, but it’s also creating them in a particular moment in time,”
Suarez said in an interview.
Earlier Wednesday, the conference hosted María Corina Machado, the
Venezuelan opposition leader and winner of this year's Nobel Peace
Prize who praised the U.S. president's posture toward Venezuela in
her remarks.
“Regarding the strategy of President Trump toward this criminal
narco-terrorist structure, it's absolutely correct because Nicolás
Maduro is not a legitimate head of state,” said Machado, who
appeared at the forum remotely.
Trump's visit also highlights how the Miami area is playing a key
role during his second term.
Trump is set to host leaders of the world's leading rich and
developing economies at next year’s Group of 20 summit at his golf
club at the nearby city of Doral, despite what critics say is the
appearance of impropriety.
Trump’s sons have taken over running the Trump Organization while
their father is in the White House, and the president has insisted
that his family’s business will not make any money by holding the
summit at the golf club.
The city is where Trump wants to locate his future presidential
library, which is now facing a legal challenge over whether the plot
of land in downtown Miami is being properly transferred. During his
speech, Suarez gave him a ceremonial gold key for the project.
Miami is also one of the U.S. host cities for next year’s World Cup,
which Trump has eagerly promoted as the kickoff to several major
global sporting events for which the U.S. is playing host. Ensuring
the success of the World Cup has been a top priority for the Trump
administration.
FIFA President Gianni Infantino, with whom Trump has developed a
close friendship, was scheduled to speak at the Miami forum later
Wednesday.
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