Trump to address Congress as tariffs erase post-election gains

What to watch out for in Trump’s first joint Congressional address this evening

March 4, 2025 04:30 pm

President Trump | noamgalai/Shutterstock modified by Blockworks

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As markets continue to react to the latest tariff announcements, President Trump is preparing to give his first joint Congressional address this evening.

We expect his speech will primarily defend the new levies placed on Mexico, Canada and China.

Other timely topics he may touch on include the federal budget, which, if Congress fails to pass in the next 10 days, will spur a government shutdown. We also wouldn’t be surprised if he gets on the defensive about that Oval Office conversation with Ukrainian President Zelensky.

“TOMORROW WILL BE BIG. I WILL TELL IT LIKE IT IS!” the president wrote in a Truth Social post last night. As if anyone had any expectations he would refrain from sharing his candid thoughts and feelings.

It’s unlikely that Trump will mention either the tumbling stock market or cryptocurrencies. If he does get into the economy, we expect him to mention investments in US-made AI and technology initiatives, such as Apple’s $500 billion commitment.

I’d be surprised if Trump comments on the crypto reserve he first announced over the weekend, but it’s possible he does, especially since he’s likely going to need Congressional approval to get it up and running.

His speech comes days ahead of the White House’s inaugural crypto summit, which will kick off on Friday. The guest list has so far been kept under wraps, but federal officials attending include AI and crypto czar David Sacks and digital asset working group executive director Bo Hines.

Tonight’s address starts at 9 pm ET.

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