On Tuesday evening, President Donald Trump addressed a joint session of Congress, highlighting the home and overseas coverage modifications 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 immediately affect enterprise homeowners.
In a CBS YouGov poll of watchers (51% described themselves as Republicans, 27% as Independents, and 20% as Democrats), 76% permitted what they heard from the president.
Within the handle, Trump defended his tariffs, saying it might have an effect on the economic system however solely within the brief time period.
“There will be just a little 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 handle, Josh Lipsky, senior director of the Atlantic Council’s GeoEconomics Center, mentioned Trump’s speech means he’s critical about tariffs.
“Probably the most vital line on commerce within the president’s handle 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 device. It’s doable that, inside the subsequent a number of months, we could possibly be going through a world commerce conflict.”
In the case of traders, Michael Schulman, chief funding officer at Operating Level Capital Advisors, told Reuters that response ought to “general be constructive.”
“Slicing taxes on people and home manufacturing and 100% fast capex deductions will incentivize enterprise spending so long as firms consider the patron will probably be there to spend,” Schulman mentioned. “Investor response ought to general be constructive 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 instructed Reuters: “The speech could have a muted response as a lot of the constructive 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.
