In his first State of the Union address during his second term, Trump stated that the stock market had reached “record highs” and that inflation had “plummeted.” He expressed “deep regret” over the Supreme Court’s rejection of tariffs, asserting that “tariffs have boosted the stock market” and advocating for tariffs to “replace the modern income tax system.” He also announced plans to allow immigrants to enter the country “legally,” demanded that tech giants “generate their own electricity and build their own factories,” mentioned receiving “80 million barrels of oil” from Venezuela, and called for legislation to ban members of Congress from engaging in stock trading.
On the evening of February 24 Eastern Time, U.S. President Trump delivered his first State of the Union address of his second term to Congress.
At the beginning of the speech, Trump focused on issues such as the economy, tariffs, immigration, artificial intelligence, and Iran. He attempted to reverse his declining approval ratings by listing a series of achievements from his first year in office and build momentum for the midterm elections in November this year.
This is a critical moment for Trump: his controversial threats of military action against Iran and other foreign policy measures, along with his signature tariff policies, which were ruled illegal by the U.S. Supreme Court.
Economy and Cost of Living: Emphasizing the stock market, inflation, housing, and drug prices.
When discussing the U.S. economy, Trump stated, “What you are seeing now is just the beginning… We will do better and better. This is America’s golden age.”
He mentioned that the stock market had reached “record highs,” claiming that the Dow Jones Industrial Average had broken through the 50,000-point mark ahead of schedule and noted that inflation was “plummeting,” with core inflation rates already lowered.
On housing issues, Trump stated that to protect housing prices, it was necessary to “keep housing prices rising.” He described mortgage rates as being at their “lowest in four years” and claimed that low interest rates would solve housing problems.
Regarding healthcare and pension-related topics, Trump claimed to have ended the “excessive” pricing of prescription drugs and announced a new retirement savings plan, stating that it would “make it easier for Americans to save for retirement.”
Technology and Electricity: Requiring large technology companies to generate their own electricity.
Concerning AI development, Trump stated that the old power grid could not meet the required electricity demand and had informed large technology companies that they needed to generate their own electricity and build their own factories.
Tariffs: Expressing dissatisfaction with the Supreme Court ruling, continuing to emphasize ‘tariffs replacing income tax.’
Trump stated that ‘tariffs have boosted the stock market’ and described the Supreme Court’s ruling on tariffs as ‘highly regrettable.’
He also remarked, ‘Over time, I believe, as in the past, tariffs paid by foreign countries will largely replace the modern income tax system.’
According to a prior report by CCTV News: ‘Trump’s speech comes at a time when his two key policies on tariffs and immigration have faced consecutive setbacks. On the 20th, the U.S. Supreme Court issued a ruling stating that the International Emergency Economic Powers Act does not authorize the president to impose large-scale tariffs. Subsequently, Trump signed an executive order terminating some tariff measures. Prior to this, due to violent enforcement actions by federal immigration officers in Minnesota resulting in the shooting deaths of two U.S. citizens, Congress failed to reach a consensus on temporary funding for the Department of Homeland Security, leading to a partial shutdown of the department starting on the 14th.’
Trump: Prefers resolving the Iran nuclear issue through diplomatic means.
According to CCTV News, Trump stated that the United States is negotiating with Iran. Trump said that Iran wants to reach an agreement, but the United States has yet to hear those secret commitments. He emphasized that the United States will never allow Iran to possess nuclear weapons and prefers to resolve this issue through diplomatic means.
Immigration, Venezuela, and other topics.
Trump stated, ‘We will always allow legal immigration.’
Regarding Venezuela, Trump referred to Venezuela as a ‘new partner and friend’ of the United States and noted that the U.S. has received over ’80 million barrels of oil’ from Venezuela.
Additionally, Trump urged Congress to pass legislation banning lawmakers from trading stocks, emphasizing the need to ‘ensure that members of Congress cannot profit from insider information.’
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