By Andrew Restuccia 

DAVOS, Switzerland -- President Trump hailed the strength of the U.S. economy and his phase-one trade deal with China in a speech before business leaders and leading policy makers at the World Economic Forum here, accomplishments he has said have been overshadowed by the impeachment proceedings.

Mr. Trump presented a list of economic achievements during his presidency, ranging from the lowest unemployment rate in a half century to foreign investment pouring into the U.S.

"I'm proud to declare that the U.S. is in the midst of an economic boom the likes of which the world has never seen," he told the audience at the glitzy Alpine resort town. "America's economic turnaround has been nothing short of spectacular."

He emphasized the improved economic prospects for African-Americans, people without college degrees and veterans.

"This is a blue-collar boom," the president said. "The American dream is back, bigger, better and stronger than ever before. No one is benefiting more than America's middle class."

He also suggested that he deserved credit from the thousands of world leaders and executives that coalesce here every year.

"The time for skepticism is over," he said.

Tuesday was Mr. Trump's second appearance at the summit as president. In 2018, he sought to reassure world leaders and business executives that there was a place for global cooperation in his nationalist worldview. "'America First' does not mean America alone," he said at the time.

The president was scheduled to attend the summit in 2019 but canceled, citing that year's partial government shutdown.

Later Tuesday, Mr. Trump is planning to meet with World Economic Forum Executive Chairman Klaus Schwab, European Commission President Ursula von der Leyen, Swiss President Simonetta Sommaruga and Pakistani Prime Minister Imran Khan. He is also scheduled to appear at a reception hosted by the International Business Council and at a dinner with global corporate executives.

The president's appearance at the summit coincides with the first day of a trial in the U.S. Senate to determine whether Mr. Trump should be removed from office. In a legal filing submitted Monday, Mr. Trump's legal team urged the Senate to swiftly reject the House's two articles of impeachment against him, calling the case frivolous and dangerous.

On Tuesday, the president touted two of his recent achievements on trade: the passage of a new agreement with Canada and Mexico, and last week's signing of an early-stage deal with China.

"These agreements represent a new model of trade for the 21st century," he said.

He addressed the issue of inequality, saying that wages for low-income Americans have been growing faster than those of the richest. "For the first time in decades, we're not only concentrating wealth in the hands of a few."

He said his agreement on the first phase of a trade deal with China addressed the longstanding problems of "China's predatory practices."

"Our relationship with China has right now probably never been better," he said.

Mr. Trump highlighted trade agreements with Japan and South Korea and said his administration looks forward "to negotiating a tremendous new deal with the U.K." The U.K. is set to split with the European Union on Jan. 31 and is seeking to strike new trade agreements with other countries, in particular the U.S.

The president reiterated his criticism of the Federal Reserve. The economic achievements during his presidency have come "despite the fact that the Fed has raised rates too fast and lowered them too slowly," he said.

Mr. Trump arrived in Davos facing continued skepticism from longstanding U.S. allies, particularly on the issue of trade. The president has infuriated officials in Europe with his threats to impose tariffs on European cars, and they continue to bristle at the tariffs Mr. Trump imposed on steel and aluminum earlier in his presidency.

But, despite the tension with Europe, there were early signs of progress this week. The U.S. and France reached a tentative truce in their standoff over the country's plan to tax tech companies. Following a Sunday phone call between the leaders of the two countries, French President Emmanuel Macron agreed to postpone until the end of 2020 a tax that France levied on big tech companies last year. In return, the U.S. will postpone retaliatory tariffs this year, officials said.

Mr. Trump's opposition to the Paris climate change accord is of particular concern for environmentally minded attendees in Davos. Activists had carved the words "ACT ON CLIMATE" into the snow near where the president's helicopter landed on Tuesday morning.

Write to Andrew Restuccia at Andrew.Restuccia@wsj.com

(END) Dow Jones Newswires

January 21, 2020 07:28 ET (12:28 GMT)