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US President Donald Trump will ask Congress to approve legislation that he says will produce $1 trillion in infrastructure investments in the US, according to prepared remarks he will deliver to lawmakers Tuesday night.

The programme will be financed through “both public and private capital,” Mr Trump will say, according to the text, and aims to create “millions” of new jobs in the US.

He also said that the programme will be guided by two principles: “Buy American, and Hire American” – echoing similar themes he has trumpeted on the campaign trail and during his first weeks in office.

Investor enthusiasm about the prospect of infrastructure spending have helped propel stock markets to record highs since Mr Trump’s election in November, but few details of the plan have been revealed since Mr Trump moved into the White House last month.

Copyright The Financial Times Limited 2017. All rights reserved.

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