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Trump will attack the US economy in a speech delivered to the Economic Club of New York

President Donald Trump attends a multilateral meeting on Venezuela with Western Hemisphere leaders on the occasion of the 74th session of the United Nations General Assembly (UNGA) at the United States Headquarters. United in New York, September 25, 2019.

Jonathan Ernst | Reuters

President Donald Trump is due to present a glowing review of the state of the US economy on Tuesday in a major speech at the Economic Club in New York, a White House official told CNBC.

Trump's speech to the prestigious Manhattan club should attribute to his policies, such as lowering taxes and lowering regulations, the overall healthy economic results felt during his presidency, said the official. Trump will likely highlight the low unemployment rate and high consumer confidence, as well as wage growth.

Larry Kudlow, director of the Trump National Economic Council, made a significant contribution to the speech, another official said.

The president should also address its trade policy, said the official, as part of the continuing negotiations on the "phase 1" trade agreement with China. Other sources told CNBC that Trump should not announce a date for signing an agreement with China.

Trump will deliver his speech one day before the self-imposed deadline on the issue of tariffs on automotive and auto parts imports from the European Union and Japan.

Many outlets have announced that Trump should postpone this six-month extension, postponing the deadline to mid-2020 and making the decision on new tariffs a potentially important issue for his re-election campaign.

After his speech at noon ET, Trump is expected to give another speech at a fundraising committee reception before returning to Washington.

CNBC Kayla Tausche contributed to this report.

(tagsToTranslate) Donald Trump (t) Latest News: Politics (t) Government Taxes and Revenues (t) United States. Economy (t) Trade (t) Congress (t) Elections (t) White House (t) Policy (t) economic news

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