Understanding the economic landscape

Welcome to TrumpNewsInternational's economy page, your premier source for insightful analysis and up-to-the-minute coverage of the financial world. Here, we delve into the intricacies of the stock exchange, government policies, international trade, and taxation, providing business professionals with the knowledge they need to stay ahead.

Watch Live: Donald Trump Speaks at Trump Accounts Summit

President Donald Trump Launches ‘Trump Accounts’ Program as Part of Working Families Tax Cuts

Washington, DC — January 28, 2026 — President Donald Trump announced a groundbreaking new initiative during his speech at the Trump Accounts Summit in Washington, D.C., highlighting a key component of his administration’s Working Families Tax Cuts. The program, dubbed Trump Accounts, aims to give America’s future a stake in the nation’s prosperity through innovative tax-advantaged savings accounts for children.

According to an official statement from the Treasury Department, Trump Accounts represent a “revolutionary” approach to fostering long-term financial security for American families. The program enables parents, guardians, or other custodians to establish a new type of individual retirement account (IRA) specifically designed for minors, providing a pathway to wealth accumulation that is both tax-advantaged and flexible.

Key Features of the Trump Accounts Program:

  • Eligibility: Children born between January 1, 2025, and December 31, 2028, are eligible to participate in the pilot phase.
  • Initial Contribution: The Treasury will make an initial $1,000 contribution to each eligible child's account as part of the pilot program.
  • Ongoing Contributions: Parents can contribute up to $5,000 annually to each child's Trump Account.
  • Employer Contributions: Employers are also encouraged to participate, with the ability to contribute up to $2,500 per year on behalf of the child.

Treasury Secretary Steven Mnuchin emphasized that the program is designed to empower families and set the foundation for a stronger economic future. “Trump Accounts will allow parents to give their children an early start in building wealth, ensuring more Americans can achieve financial independence,” Mnuchin said.

The initiative has garnered praise from conservative and pro-growth advocates who see it as a way to promote economic opportunity and reduce generational wealth disparities. Critics, however, are expected to scrutinize the program’s long-term implications and its impact on existing retirement savings and tax policies.

The Trump administration's rollout of Trump Accounts marks a significant shift in American savings policy, aiming to integrate child-focused financial planning with broader tax reform efforts. The program is currently in its pilot phase, with initial implementation expected to begin in select states before expanding nationwide later this year.

For more detailed coverage, outlets such as CNBC, Fox Business, and The Wall Street Journal have highlighted the potential of the program to reshape long-term savings strategies in the United States. The New York Times and Washington Post have also noted the historic nature of the initiative, framing it as a bold step toward empowering American families and ensuring a prosperous future.

As the program begins its rollout, President Trump reiterated his commitment to strengthening the economic foundation of the American family and securing a brighter future for the next generation.

Bank of America to Match Government Contributions to Trump Accounts for Employee Children

Bank of America Announces Support for Trump’s ‘Trump Accounts’ Program, Pledges $1,000 Match for Eligible Employees’ Children

Charlotte, NC — January 28, 2026 — In a move aligning with the Trump administration’s groundbreaking savings initiative, Bank of America has announced it will actively participate in the new Trump Accounts program by matching the federal government’s initial contribution of $1,000 for eligible children of its employees.

According to an internal memo obtained by Breitbart News, the nation’s second-largest bank plans to allow its 165,000 U.S. employees to contribute to the accounts through payroll deduction, with the bank offering to match the federal contribution for children born between January 1, 2025, and December 31, 2028. The memo, titled “Building Long Term Financial Security for Our Teammates And Their Families,” was distributed Wednesday morning.

Details of the Program

Trump Accounts, officially known as Section 530A Accounts, are tax-advantaged savings accounts created under the One Big Beautiful Bill Act, designed to help children under 18 save for future milestones. Parents or guardians can open these accounts before the end of the calendar year for eligible children, with the federal government initially contributing $1,000 per child as part of the pilot program.

The program is aimed at U.S. citizen children with a valid Social Security number and is part of the broader Trump administration effort to promote long-term financial planning for American families.

Bank’s Commitment and Future Plans

In the memo, Bank of America expressed enthusiastic support for the initiative, stating, “We applaud that the federal government is providing innovative solutions for employees and families to plan for their future, and we welcome the opportunity to participate.” The bank also indicated it is working closely with the Trump administration on implementing Trump Accounts for its clients, with further details expected in the coming weeks.

This announcement positions Bank of America as an early corporate adopter of the program, which aims to expand access to long-term savings tools across America. The bank’s support comes shortly after it awarded nearly 19 million shares, valued at approximately $1 billion, through its Sharing Success equity program for employees excluding senior management.

Context and Significance

The move by Bank of America signals strong corporate backing for the Trump administration’s efforts to empower American families through innovative savings mechanisms. The program is expected to become a key component of the administration’s broader economic agenda, aimed at strengthening individual financial security and fostering a culture of savings among future generations.

As the Trump Accounts program prepares for its official rollout at the upcoming Treasury Department summit, industry leaders like Bank of America are positioning themselves at the forefront of this national initiative to promote long-term economic stability for American families.

Trump Announces John Deere to Invest $70 Million in North Carolina

Washington, DC — January 27, 2026 — President Donald Trump revealed a major investment commitment by John Deere during a rally in Clive, Iowa, announcing that the iconic machinery manufacturer will pour $70 million into establishing a new excavator factory in North Carolina. The announcement marks a significant step forward for American manufacturing and job creation.

Trump touted the “historic investment” while emphasizing the importance of revitalizing U.S. industry. “And I think it’s going to pay off very, very big,” he said with characteristic humor. “If it doesn’t, I have nothing to do with it. But if it does, I’m going to take full credit.”

The president expressed particular pride that the new plant will produce the only excavator entirely made in the United States, highlighting the move as a victory for American manufacturing. “I love those excavators, believe it or not. We don’t make them here, but now we will,” Trump declared.

Shortly after the announcement, John Deere issued a press release confirming that the new facility would be located in Kernersville, North Carolina, with an expected opening in 2026. The company emphasized that the plant’s manufacturing will be entirely U.S.-based, with the Kernersville campus taking over production from overseas facilities, including operations in Japan.

“The Kernersville Campus moved Manufacturing/Production from Oversees (Japan) to America,” Deere stated. The new factory will support more than 150 jobs, focusing on designing, developing, and manufacturing the excavator domestically for the first time.

John Deere’s President of Worldwide Construction & Forestry and Power Systems, Ryan Campbell, expressed enthusiasm about the project, saying, “We are excited to bring this new facility to our Kernersville campus and to be part of the region’s thriving manufacturing community. Our focus will be on delivering excellence, creating jobs, and advancing the legacy of John Deere in American manufacturing.”

In addition to the North Carolina project, Deere is constructing a distribution center near Hebron, Indiana, which will create approximately 150 jobs and is expected to open later this year.

John Deere Chairman and CEO John May reaffirmed the company’s commitment to American industry, stating, “Our investment in these new facilities underscores John Deere’s dedication to strengthening the backbone of American industry and supporting local economies. We believe in building America, and these projects represent our intent to continue driving innovation and job creation in the United States.”

This significant investment underscores President Trump’s ongoing push to bolster U.S. manufacturing and bring jobs back to the American heartland, reinforcing his message of economic revival and American self-sufficiency.