In speech, president delivers triumph assessment, claiming US prices are down despite official data showing otherwise

Donald Trump claimed victory on the economy after 12 months back in office on Tuesday, declaring it to be the “greatest first year in history” as many Americans express alarm over the cost of living.

In a stream-of-consciousness speech at the Detroit Economic Club, the US president delivered his gold-tinted view of how the economy has fared on his watch. Prices were down, he claimed, despite official data showing otherwise, and productivity was “smashing expectations”.

Country is ‘uninvestable’ today, president told, but CEOs signal they are ready to spend with support

Donald Trump promised oil giants “total safety, total security” in Venezuela in an effort to persuade them to invest $100bn in the country’s infrastructure after US forces toppled Nicolás Maduro from power.

At a roundtable press conference at the White House on Friday afternoon with more than a dozen oil executives, including leaders from Chevron, ExxonMobil and ConocoPhilips, the US president doubled down on claims that Maduro’s arrest presents American oil companies with an unprecedented opportunity for extraction.