On Tuesday night time, President Donald Trump addressed a joint session of Congress, highlighting the home and international coverage adjustments his administration has made within the first six weeks of his second time period.
The speech, which set a record at over 90 minutes, touched upon a myriad of financial coverage points that may straight affect enterprise house owners.
In a CBS YouGov poll of watchers (51% described themselves as Republicans, 27% as Independents, and 20% as Democrats), 76% authorized what they heard from the president.
Within the deal with, Trump defended his tariffs, saying it will have an effect on the financial system however solely within the brief time period.
“There will be a bit of disturbance,” he mentioned. “However we’re OK with that. It will not be a lot.”
Trump additionally mentioned he desires to finish the Chips Act, the Biden-era $52 billion subsidy program for semiconductor manufacturing.
In response to the deal with, Josh Lipsky, senior director of the Atlantic Council’s GeoEconomics Center, mentioned Trump’s speech means he’s critical about tariffs.
“Essentially the most important line on commerce within the president’s deal with wasn’t about metal, aluminum, or farming. It was when Trump mentioned tariffs are ‘about defending the soul of our nation,'” Lipsky mentioned. “These seven phrases ought to put the entire world on discover that Trump is critical about tariffs. To him, they aren’t only a negotiating software. It’s potential that, throughout the subsequent a number of months, we may very well be going through a world commerce conflict.”
In terms of traders, Michael Schulman, chief funding officer at Working Level Capital Advisors, told Reuters that response ought to “total be optimistic.”
“Reducing taxes on people and home manufacturing and 100% speedy capex deductions will incentivize enterprise spending so long as firms imagine the patron can be there to spend,” Schulman mentioned. “Investor response ought to total be optimistic since disposable revenue might rise when these insurance policies are handed.”
Others thought the speech was too “on script.”
Reflection Asset Administration President Jason Britton informed Reuters: “The speech may have a muted response as a lot of the optimistic sentiment was priced in already.”
“It was as anticipated and a second the place the president stayed on script and there is little to no aftermath,” Britton added.
You’ll be able to watch the full speech, right here.
