President Donald Trump on Tuesday is slated to deliver a glowing assessment of the state of the U.S. economy in a wide-ranging speech at the Economic Club of New York, a White House official told CNBC.

Trump's speech at the prestigious Manhattan club is expected to credit his policies, such as lowering taxes and cutting regulations, for the broadly healthy economic numbers felt during his presidency, the official said. Trump will likely highlight the low unemployment rate and high consumer confidence, as well as wage growth.

Larry Kudlow, the director of Trump's National Economic Council, contributed significantly to the speech, another official said.

The president is also expected to touch on his trade policies, the official said, amid continued negotiations on the "phase one" trade deal with China. Other sources told CNBC that Trump isn't expected to announce a date for a deal signing with China.

Trump will give the speech a day before the self-imposed deadline on whether to slap tariffs on imports of autos and auto parts from the European Union and Japan.

Multiple outlets have reported that Trump is expected to push back that deadline by another six months — moving the deadline into the middle of 2020 and making the decision of additional tariffs a potentially consequential issue for his reelection campaign.

Following his speech at noon ET, Trump is scheduled to give another speech at a fundraising committee reception before heading back to Washington.

CNBC's Kayla Tausche contributed to this report.