President Donald Trump to Deliver His First Address to Congress in His Second Term

President Donald Trump to Deliver His First Address to Congress in His Second Term

President Donald Trump will deliver his first joint address of his second term to Congress this evening, where he will highlight his tariff increases and cost-cutting measures, although judges have raised questions about their legality, and the economy is showing some early signs of instability.

Trump's speech is scheduled to begin at 9:10 p.m. Eastern Time on Tuesday. While it is not officially a State of the Union address, its structure and content will be almost the same. The White House has announced that the theme of the address will be "The Renewal of the American Dream."

However, financial markets have not reacted positively so far. Stock prices have fallen due to uncertainty surrounding Trump's trade war and the volatile policies he has introduced. Recent economic surveys have shown declining consumer confidence and rising concerns about inflation.

Tariff Increases and Trade War

The first topic Trump may discuss in his speech is the increase in tariffs and the trade war. Starting Tuesday, a 25% tariff has been imposed on imports from Canada and Mexico, the United States' two largest trading partners. On Monday, he also signed an order to raise tariffs on Chinese imports by an additional 10%. Trump has claimed that these tariffs are meant to control the flow of illegal drugs and immigration into the U.S. However, this has sparked a trade war, with Canada, China, and Mexico already retaliating.

DOGE and Cost-Cutting Measures

Trump may also address ongoing government agency and employee layoffs under Elon Musk's "Department of Government Efficiency" (DOGE). This plan includes laying off thousands of federal employees and attempting to shut down some government agencies. However, judges have already suggested that some of these actions may be illegal, particularly those that involve firing government workers for political reasons. This speech will provide Trump with an opportunity to clarify his intentions behind these measures and whether he plans to seek congressional support for them.

Discussion on Taxes and the Budget

The biggest question may be how Trump will encourage Congress regarding tax cuts, which were part of his 2017 tax law and are set to expire at the end of this year. He has not discussed tax reform much so far, leaving it to Congress. Many are wondering if Trump will be able to implement the tax cuts he promised on the campaign trail, such as no tax on tips, overtime, or Social Security, and further reducing the corporate tax rate to 15%.

Some Republicans have raised the possibility of deep budget cuts, including reducing tax breaks on electric vehicles and proposing large cuts to Medicaid.

This speech will be an opportunity for Trump to clarify which tax cuts he views as the highest priority and where he suggests Congress should make cuts to offset them.