Trump Defends Tariffs, Budget Cuts in No-Apologies Address
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Präsident Trump verteidigt seine Handels- und Regierungsagenda und eine unabhängige Anmerkung an den Kongress. Und wir fangen gerade an. Plus, Commerce Secretary Howard Ludnick hints at a looming deal to reduce tariffs on Canada and Mexico. And China sets a strong growth target and doubles down on homegrown AI. It's Wednesday, March 5th. I'm Luke Vargas for The Wall Street Journal. And here is the AM edition of What's News. The top headlines and business stories moving your world today.
What did Trump discuss in his recent speech?
In his first major speech since the inauguration, President Trump told a joint session of Congress last night that his agenda, which he described as swift and unrelenting and which has included an immigration crackdown, cuts to the federal workforce and stiff tariffs on imports, had already succeeded in revitalizing America's momentum. Gone were appeals to unity. Trump attacked Democrats as radical left lunatics and blamed former President Joe Biden for the country's problems. At multiple points, Democrats broke out in boos. And just seven minutes into the speech, Democratic Representative Al Green of Texas was escorted out after rising from his seat and shouting at the president, prompting an intervention by House Speaker Mike Johnson.
Finding that members continue to engage in willful and concerted disruption of proper decorum, the chair now directs the sergeant-at-arms to restore order. Remove this gentleman from the chamber.
So what did the record hour and 40 minute address tell us about what's in store? WSJ economic policy reporter Brian Schwartz said more protectionism.
He touched on how he was going to move ahead with 25% tariffs on copper and 25% tariffs on imports of aluminum, lumber and steel.
How are tariffs impacting the US economy?
Speaking after a volatile day of trading in which the S&P 500 closed below its final election day level as US tariffs went into effect on Mexico, Canada and China, Trump acknowledged that retaliatory measures, especially those from China targeting American farmers, could trigger an adjustment period, but he defended the necessity of continuing his approach.
Wir müssen uns erinnern, dass Tarifte nicht nur um die Schutz der amerikanischen Jobs, sondern um die Schutz der Seele unseres Landes. Tarifte sind um Amerika wieder reich zu machen und Amerika wieder groß zu machen. Und es passiert und es wird ziemlich schnell passieren. Es wird ein bisschen Verlust sein, aber wir sind okay damit.
Trump filled in some additional details about so-called reciprocal tariffs, saying the measures to equalize US duties with the tariff and non-tariff barriers imposed by other nations would be imposed on April 2nd, though administration officials have told industry groups they could take six months or more to fully implement. Well, Brian said Trump was equally enthusiastic about continuing the hunt for cuts to the government budget, even as top House Republicans urged GOP lawmakers to stop holding in-person town halls after confrontations with constituents and Democratic activists over government layoffs and feared Medicaid cuts went viral.
What budget cuts did Trump propose?
In front of hundreds of members of Congress live on television, WSJ Washington Coverage Chief Damian Paletta described what followed from Trump.
He listed a bunch of government programs by name that this Department of Government Efficiency, led by Elon Musk, has identified for cuts. And he went through a number of African countries, for example, that have gotten millions of dollars for specific programs. And he listed them in great detail. By identifying these programs in places like Lesotho, he's trying to show Americans, this is not where your tax money should be going. This money should stay within the United States. Eine interessante Teil der Rede war, als er die Demokraten getötet hat und sagte, z.B. : Zivilbewerber sind unerwählte Bürokraten und sie sollten keinen Wunsch haben, wie die Regierungen laufen.
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