Ed Elson

And incomes are rising fast.

Trump also touched on new initiatives, including the Trump investment accounts and a pledge to make big tech cover its own electricity needs.

While domestic issues dominated the speech, Trump did briefly touch on foreign policy as well.

He claimed that he's ended eight wars and warned that Iran is rebuilding its nuclear weapons program.

He also briefly acknowledged the, quote, unfortunate ruling from the Supreme Court that deemed the tariffs illegal,

Earlier that day, his new 10% global tariff rate officially went into effect.

So here to discuss the State of the Union, we're speaking with Ian Bremmer, founder and president of Eurasia Group.

Ian, thank you for joining us on Property Markets.

So this State of the Union, Trump spoke for a record 107 minutes.

Lots to unpack here.

Let's just start with your initial reactions.

What stood out to you?

It sounds like we might agree, or at least my initial reaction to this State of the Union address.

I expected it to be, or at least was waiting and preparing for it to be quite awful, or at least somewhat insane, kind of unhinged.

That was kind of what I was expecting.

What we saw was a speech that was relatively normal and relatively less unhinged, in my view at least, for Trump.

And I think one of the things that you bring up there is there was a lot that he didn't say, and it seemed that he was actually weaving around all of the things that seemed to be going wrong for him.

The economy would be an interesting one.

There were some moments where he flat out lied about things, like when he said, you know, prices are coming down, which is just not true.

Not true.