US President Donald Trump has outlined a broad affordability agenda aimed at lowering housing, health care and everyday consumer costs, arguing that falling energy prices, targeted financial interventions and new policy initiatives are already easing pressure on American households.

Speaking at the Detroit Economic Club, Trump said reducing the cost of living was one of his administration’s top priorities, asserting that lower energy prices were driving broader price declines across the economy.

“One of our top priorities in this mission is promoting greater affordability,” Trump said, claiming gasoline prices had fallen sharply in many parts of the country. He said fuel costs were under $2.50 a gallon in at least 17 states, and below $2 in some areas, adding that cheaper fuel has a cascading effect on consumer prices.

“When gasoline gets to be $1.99 a gallon, everything comes down,” Trump said, citing transportation and delivery costs as key drivers of inflation. He argued that lower energy prices were helping reduce costs across food, retail and services even as economic growth remained strong.

“Our growth is through the roof,” Trump said, describing falling prices alongside expansion as a rare but positive combination.

Trump credited his energy policy shift for the decline, saying his administration had reversed what he described as a “radical left war on oil and gas” and restored domestic energy production. He reiterated that consumers should have freedom of choice when it comes to vehicles.

“I want gasoline powered cars. I want electric. I want hybrids. I want everything,” he said.

Housing affordability featured prominently in Trump’s remarks, with the president signalling major policy moves to curb rising home prices. He said his administration plans to ban large institutional investors from purchasing single-family homes, arguing that such practices distort housing markets and crowd out individual buyers.

“This will include a ban on large institutional investors buying up single family homes,” Trump said.

He also highlighted federal efforts to bring down mortgage rates, announcing that the US government had purchased $200 billion in mortgage-backed securities. According to Trump, the move had already pushed the average 30-year mortgage rate below 6 per cent for the first time in years.

“That’s not with the help of the Fed,” Trump said, renewing his criticism of the Federal Reserve’s interest rate policies.

Trump also said he had called on credit card companies to temporarily cap interest rates at 10 per cent, arguing that current rates of 28 to 32 per cent were excessive and unfair to consumers.

Turning to health care, Trump strongly criticised the Affordable Care Act, calling it a major driver of rising costs. He said the law primarily benefited insurance companies rather than patients and vowed to redirect government support directly to individuals.

“I want the money to go directly to the people so they can buy the health care that’s right for them,” Trump said, adding that he would soon unveil a new health care affordability framework.

He also reiterated plans to sharply reduce prescription drug prices through a “most favored nation” pricing policy, under which the US would pay the lowest price charged globally. Trump said tariffs could be imposed on countries that refuse to comply.

Trump claimed that easing inflation was already visible across daily expenses, including groceries, rent, airfares and hotel rates, while real wages were rising after years of decline.

Housing and health care costs remain major economic and political concerns in the United States, with Trump’s proposals setting the stage for renewed debate over regulation, market concentration and federal intervention.