Trump's State of the Union, Nvidia Earnings Preview, More
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News when you want it with Bloomberg News Now. I'm Nathan Hager.
And I'm Karen Moscow.
Karen, we begin with the main political event of the moment, President Donald Trump's State of the Union address.
Members of Congress and my fellow Americans, our nation is back bigger, better, richer and stronger than ever before.
Over a record one hour and 47 minutes, the president delivered a strident defense of his economic record in a speech that was heavy on patriotism.
This July 4th, we will mark two and a half centuries of liberty and triumph, progress and freedom in the most incredible and exceptional nation ever to exist on the face of the earth. And you've seen nothing yet.
President Trump touted falling food and gasoline prices and blamed Democrats for costs that have stayed elevated since before the pandemic. And after the Supreme Court struck down his signature tariffs last week, President Trump gave little indication he plans to steer away from import duties.
They will continue to work along the same successful path that we had negotiated before the Supreme Court's unfortunate involvement. So despite the disappointing ruling, these powerful countries saving, it's saving our country the kind of money we're taking in.
President Trump delivered his remarks before four of the Supreme Court's justices, three of whom voted to reject his emergency tariffs.
Well, Nathan, President Trump did not offer many new policy proposals in his speech, though he did promise a $1,000 retirement saving match for workers without 401ks. He also called for a congressional ban on stock trading, and he took aim at Democrats for opposing his tough stand on immigration enforcement.
These people are crazy, I'm telling you. They're crazy.
The president accused Democrats of destroying the country after starting the speech with a recognition of Olympic gold medal winners. President Trump also touched on foreign policy with a warning about Iran's nuclear program.
They continue starting it all over. We wiped it out and they want to start all over again. and are at this moment again pursuing their sinister ambitions. We are in negotiations with them. They want to make a deal, but we haven't heard those secret words. We will never have a nuclear weapon.
President Trump also praised the operation in Venezuela that captured former President Nicolas Maduro and awarded the Congressional Medal of Honor to one of the helicopter pilots involved in the raid. In one of the speech's more poignant moments, the president awarded the Purple Heart to the National Guard member who survived an attack in Washington last November.
And reaction, of course, Karen, is pouring into President Trump's speech. Rick Davis was national campaign manager of John McCain's 2008 presidential campaign and is now a Bloomberg Politics contributor.
I think it was a different kind of speech than what we're used to seeing from President Trump. Normally, he paints a pretty dark picture of the country in order to say how much he has changed and made it better.
What were the key points from Trump's State of the Union address?
He actually started off with the positive report card. And at a time when most people are tuned in, the first 30 minutes of this speech, he's going to get the highest number of eyeballs on the TV. He talked about affordability, the economy.
And like Rick Davis, Jeanne Sheehan Zaino is also a Bloomberg Politics contributor.
I think he got the memo from Susie Wiles. Affordability, affordability. The first hour was on affordability. But what he didn't do is say how he is going to fix and address how people feel. And I don't think he changed any mind. So I think it was better than I thought it might be. But it wasn't enough to give people confidence that anything is going to change in the next year or two.
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