Fact-check: Last night's Republican presidential nomination acceptance speech

This week Milwaukee, Wisconsin's Fiserv Forum played host to the Republican National Convention. The packed event highlighted the party's unilateral support for Former President Donald Trump, who took the stage last night and gave his nomination acceptance speech. Trump's speech was longer than most and filled with his past accomplishments and claims about President Joe Biden's poor performance. 

CNN reporters fact-checked several points from Trump's acceptance speech, a few of which are highlighted below. For CNN's complete fact-check story, click here. The Rural Blog will run a CNN fact-check story after the Democratic National Convention in August.

Trump claimed that there is record inflation under President Joe Biden.
Facts First: "Trump’s claim is false. The current inflation rate, 3% in June 2024, is nowhere near the all-time record of 23.7%, set in 1920," reports Daniel Dale. "Trump could fairly say that the inflation rate hit a 40-year high in June 2022, when it was 9.1%, but it has since plummeted."

Trump claimed that the success of his trade deal with China resulted in China purchasing $50 billion in American goods. 
Facts First: "The claim that China bought $50 billion worth of American products as a result of a trade deal is false," reports Katie Lobosco. "Trump is referring to what is known as the Phase One deal he struck with Beijing in December 2019. . . .While the deal required China to buy $50 billion worth of American agricultural products by the end of 2021 – Beijing did not live up to its commitment."

Trump claimed that U.S. gas prices were up 60%. 
Facts First: "The average price of a regular gallon of gasoline nationwide is $3.51 as of Thursday, according to AAA," reports Bryan Mena. "That’s up about 47% from the day President Joe Biden was inaugurated when the average was $2.39 . . . ."

Trump claimed that Biden plans to quadruple U.S. taxes.
Facts First: "This is false," reports Daniel Dale. "The nonpartisan Urban-Brookings Tax Policy Center think tank, which analyzed Biden’s never-implemented budget proposals for fiscal 2024, found this: 'His plan would raise average after-tax incomes for low-income households in 2024.' . . .The very biggest burden under the Biden plan would have been carried by the very richest households."

Trump stated that during his administration, the world was at peace.
Facts First: "Trump’s claim about world peace under his presidency is false. There were dozens of unresolved wars and armed conflicts when Trump left office in early 2021," Dale reports. "The Stockholm International Peace Research Institute, which tracks armed conflict in countries around the world, said in a June email that it estimates there were active armed conflicts in 51 international states in 2020 and again active armed conflicts in 51 international states in 2021."