President Donald Trump delivered remarks July 2 at the “Spirit of America” business showcase, held at the White House.
Watch Trump’s remarks in the video player above.
Trump honored several small businesses at the event.
“Every company here today embodies true American excellence, your stunning craftsmanship,” said the president.
“I just witnessed some of it. It’s incredible. It’s treasured and prized all over the world. The product you make is like none other. And your spirit for America and the greatness of our country is unrivaled.”
The event came on the heels of a positive jobs report Thursday.
U.S. employers added a substantial 4.8 million jobs in June and the unemployment rate fell to 11.1% as the job market improved for the second straight month. However, the economy remains far short of regaining the colossal losses it suffered in the spring during the coronavirus outbreak.
Trump warned that his administration “built the greatest economy in history” and are the only ones who can do it again.
“They’re (Democrats) raising taxes on people and middle income people and they’re losing jobs,” said Trump.
“So you can’t allow that to happen. That will be all of this incredible job that we’ve done will go down like that. It will be a terrible, terrible sight. It might even be a 1929 situation.”
The president was referring to the Wall Street crash in 1929, that contributed to the Great Depression.