U.S. President Donald Trump speaks in Rocky Mount, North Carolina, one of the swing states, on December 19 (local time). Yonhap News

About one year and one month after the presidential election, U.S. President Donald Trump has returned to "campaign rally" mode. Although there are still more than 10 months left until the midterm elections next November, he appears to be moving a step ahead due to a sense of crisis stemming from a recent decline in approval ratings.

On December 19 (local time), President Trump visited North Carolina, a U.S. swing state, to emphasize the economic performance of a second Trump administration.

This marks his second visit to a swing state in ten days, following his visit to Mount Pocono, Pennsylvania, on December 9.

With the midterm elections in November next year, which will determine his administration's grip on power in the latter half of his second term, the interpretation is that President Trump has entered campaign mode early amid a series of polls indicating a decline in presidential job approval ratings due to high inflation.

In his speech in Rocky Mount, North Carolina, lasting about 1 hour and 30 minutes, President Trump cited job creation, reduced drug prices, and lower energy costs as achievements. He stated, "We are here to celebrate an incredible first 11 months (since taking office in January). This has been the most successful first year for any president in American history."

He then referred to the consumer price index released the previous day, saying, "Inflation was significantly lower than expected, and core inflation is at its lowest level since March 2021."

"People said tariffs would cause inflation. But the price index that was just released is the best it's been in years," President Trump said.

There were concerns that the increased costs for businesses due to his comprehensive tariff policy, which imposed reciprocal tariffs on countries worldwide, would be passed on to consumers. However, he argued that the current price index proves these concerns were ultimately wrong.

The U.S. Consumer Price Index (CPI) for November, released the previous day, rose by 2.7% year-on-year, which was below expert expectations. The core CPI, excluding volatile energy and food prices, rose by 2.6% year-on-year, the slowest pace of increase since early 2021.

However, some quarters have raised doubts about the reliability of these figures, suggesting that some data may have been omitted due to the government shutdown (temporary suspension of operations).

President Trump actively promoted the announcement by nine global pharmaceutical companies that they would lower drug prices sold in the United States to most-favored-nation levels that day, emphasizing it as "the biggest price reduction in history."

Trump speaking. AP=Yonhap News

In his speech, President Trump directly targeted the Democratic Party, blaming them for the high inflation situation.

President Trump claimed that "massive immigration fueled massive inflation," pointing out that the immigration policies of the previous Biden administration and the Democratic Party have driven up housing costs and rent.

Regarding the Democratic Party's efforts to criticize the government over high inflation, he criticized, "They are the ones who caused the high prices. And now, with fake news, they say this election is about 'affordable prices.'"

He referred to the Affordable Care Act, a health insurance reform law led by Democrats, as "Barack Hussein Obama Care" and criticized it as "a system that enriches insurance companies."

As he concluded his speech, President Trump performed his signature "Trump dance," moving his fists back and forth, while the "YMCA song," which he used as his exit music at every rally during last year's presidential election, played.

Through his speeches in Pennsylvania on December 9, North Carolina on December 19, and his nationally televised address on December 17, President Trump has been continuously promoting the government's economic achievements.

This can also be seen as evidence of the growing sense of crisis ahead of the midterm elections in November next year, which will determine the composition of the House and Senate and influence the direction of governance in the latter half of his term.

President Trump has been announcing a series of populist policies, including special payments of $1,776 to 1.45 million military personnel, three days off for federal employees during the Christmas period, and reduced drug prices from global pharmaceutical companies.

This is also seen as an effort to accelerate efforts to solidify public support ahead of the elections by rolling out policies that the public can immediately feel.

President Trump also expressed confidence that the economic situation for the public will improve and inflation will be resolved more quickly as tax deductions become a reality from early next year and real wage increases are confirmed.

North Carolina, which Trump visited today, is considered a swing state in the southern Sun Belt (a region south of 37 degrees north latitude with abundant sunshine).

The Republican-controlled North Carolina state legislature redrew the boundaries of congressional districts in the eastern part of the state this year to favor Republicans.

Despite this, U.S. media outlets report that many congressional districts in North Carolina are expected to be closely contested in the House of Representatives elections, and the Senate race is also expected to be highly competitive.

At the event that day, supporters wearing MAGA (Make America Great Again) hats held up panels highlighting economic achievements emphasized by the Trump administration, such as "Lower Prices" and "Bigger Paychecks," drawing attention.