US President Donald Trump made important statements on the economy, trade and foreign policy in his historic speech to a joint session of Congress on March 5, 2025. The speech, which lasted 1 hour and 40 minutes, was recorded as one of the longest speeches made by US presidents before Congress. Trump focused on economic and trade policies, giving striking messages about new tariffs, productivity-enhancing reforms and international diplomacy.
Economy: ‘Rescue’ and Support for Working Families
Trump stated that the US economy was entering a recovery process and that inflation was under control. Blaming the Biden administration for economic problems, Trump said, “I am fighting every day to make America livable again.”
Following Trump’s Statements:
Positive movements were seen in US stock markets.
The dollar followed a volatile course in international markets.
Criticisms of Trump’s trade policies came from China and Europe.
Trump’s speech had a great impact in terms of its effects on the economy, trade and international relations. It is eagerly awaited how these policies will be reflected in the markets and US domestic politics in the coming months.
Determination on Tariffs
Trump has made it clear that he will not back down on tariffs despite the volatility in the markets. Stating that the US aims to collect trillions from import duties, Trump emphasized his determination by saying, “Tariffs are about making America rich again and making America great again.” While the 25% tax on goods coming from Mexico and Canada has come into effect, an additional 10% tax has been imposed on goods imported from China. Trump also stated that the US will continue its plan for reciprocal tariffs that match other countries.
Tax Policies
Trump argued that overtime pay and Social Security benefits should not be taxed. He also suggested that interest payments on American-made cars should be tax deductible. However, it seems unlikely that Trump’s tax policies will be easy to pass in a divided House of Representatives.
Sharp Criticism of Global Trade Policies
Trump targeted countries such as the European Union (EU), India, Mexico and Brazil, claiming that some countries were implementing "unfair" trade practices against the US. He announced that the US would implement "reciprocal tariffs" starting on April 2. He announced his new trade policies by saying, "We will tax them the way they tax us."
Trade War Between the US and China
The Trump administration increased the 10 percent customs duty on imports from China to 20 percent. While China was expected to increase tariffs on US products in retaliation, Trump argued that this policy would revitalize the US economy and manufacturing sector.
New Customs Duties: 'There Will Be a Small Shock'
Trump imposed a 25 percent customs duty on Mexican and Canadian products and a 20 percent customs duty on Chinese products. While there were concerns about the impact of these policies on the American economy, Trump said, "Tariffs are necessary to make America rich again." However, Trump, who had difficulty in receiving applause due to the harsh reactions especially from Canada and Mexico, made light of the situation by saying, “There will be a little shake-up, but it’s okay.”
Elon Musk and Government Efficiency
Trump announced that he established a new department in order to prevent waste in the government and appointed Elon Musk to head this department. Stating that Musk would increase government efficiency by reducing federal spending, Trump indicated a major reform process by saying, “This is just the beginning.”
“Thank you, Elon!”
Trump praised Elon Musk, the world’s richest businessman and CEO of Tesla and SpaceX, for his initiative to cut government spending and increase efficiency. The team led by Musk laid off tens of thousands of federal employees, cut billions of dollars in foreign aid, and canceled many government programs. Trump made the Republicans in the hall laugh by saying, “Everybody here, even this side (referring to Democrats) appreciates it, but they don’t want to admit it.” However, Democratic deputies reacted to this situation by holding banners reading "Thief Musk".
"Important" Letter from Zelensky
Trump stated that he received a letter from Ukrainian President Volodymyr Zelensky and said that "Ukraine is ready to come to the negotiating table as soon as possible to achieve lasting peace." He also said that Ukraine is ready to sign the mining agreement.
Egg Prices and Inflation: Is Biden Responsible?
Trump blamed the administration of former US President Joe Biden for inflation and especially rising food prices. Saying that "Joe Biden allowed egg prices in particular to get out of control," Trump admitted that this increase was due to the deaths of millions of chickens due to bird flul, but turned to the agriculture minister and said, “Do a good job on this.”
Will He Buy Greenland?
Trump said the US would “somehow” acquire Greenland and announced plans to annex it to US territory. He emphasized the strategic importance of the region to NATO, saying, “We will keep you safe, we will make you rich, and we will take Greenland to levels you can’t even imagine.”
Drug Smuggling and Border Security
Trump praised Mexico’s efforts to extradite cartel leaders to the US, but called for more action on fentanyl smuggling. He called on Congress to pass a bill that would increase border security and reduce drug trafficking.
Foreign Enemies and International Policies
Trump devoted little space to foreign policy in his speech. He said Ukrainian President Volodymyr Zelenskiy was ready to sign a rare earths agreement with the US. However, he also expressed his discomfort with American aid to Ukraine. Trump, who made only a cursory reference to the Israel-Hamas war, did not make a clear statement about the US role in the region.
Reply of Representative Al Green from the House
Democratic Representative Al Green was removed from the chamber by security guards on the orders of House Speaker Mike Johnson while protesting Trump's speech. Green interrupted his speech by shouting that Trump had no authority to cut the Medicaid program. Other Democrats held silent protests by holding banners.
English Declared the Official Language of the US
Trump announced that he had declared English the official language of the US. While this decision was seen as a great victory by conservatives, it was met with backlash by some.
Citizenship Sale with $5 Million 'Gold Card'
Trump announced that he planned to sell US citizenship with the 'Gold Card' application for $5 million. This system aims to attract high-income investors to the US.
Panama Canal and Greenland Message
Trump said that they want to take back the Panama Canal and that he is considering annexing Greenland to the US. These statements had a great impact in the international arena.
Conclusion
Donald Trump's speech to Congress attracted attention with its length and content. He made ambitious statements on many issues from tax policies to foreign policy, from government reforms to trade wars. However, most of the speech was aimed at pleasing the Republican base and lacked messages of bipartisan consensus. The harsh protests of the Democrats and the removal of Al Green from the House were recorded as one of the most striking moments of the speech.
