Trump predicts a ‘terrific’ GDP report at US Steel plant

Trump: We need steel mills for national security

President Donald Trump delivers remarks at a steel plant in Granite City, Illinois.

President Trump touted U.S. economic growth in a speech at a newly reopened U.S. Steel plant in the St. Louis-area town of Granite City, Ill.

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Trump predicted a “terrific” outcome to Friday's report on U.S. gross domestic product (GDP).

“Big numbers announced tomorrow; I don’t know what they are, but I think they’re going to be terrific,” Trump said on Thursday.

White House economic advisor Larry Kudlow told FOX Business that when the Commerce Department releases second-quarter GDP data, he expects the number could exceed 4%.

"You're going to get a very good economic growth number tomorrow. Big," Kudlow said during an interview on “Varney & Co.” on Thursday.

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The steady growth of the U.S. economy has been credited in part to the 2017 Tax Cuts and Jobs Act.

Trump said an estimated two-thirds of American raw steel companies went out of business over the last two decades, eliminating more than one-third of all steel jobs. However, the impact of U.S. tariffs on imported steel and aluminum has been credited for the reopening of a steel plant in Granite City.

“After years of shutdowns and cutbacks, today the blast furnace here in Granite City is blazing bright, workers are back on the job, and we are once again pouring new American steel back into the spine of our country,” Trump said.

U.S. Steel, the nation's second-largest steel producer, may embark on a major expansion involving additional plants across the country, according to its president. Trump said the survival of steel in America is a matter of national security.

“We need steel mills for national security,” he said.

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