President Donald Trump delivered his first State of the Union address on Tuesday, Jan. 30. He spoke about immigration, infrastructure, foreign policy and the booming economy. How will investors digest his speech? TheStreet's Kinsey Grant's breaks it down here.
Here are some highlights from President Trump's Speech
- "No people on earth are so fearless or daring or determined as Americans," Trump said. "The state of our union is strong because our people are strong."
- "Since the election, we have created 2.4 million new jobs, including 200,000 new jobs in manufacturing alone," Trump said. "After years and years of wage stagnation, we are finally seeing rising wages. Unemployment claims have hit a 45-year low. And something I'm very proud of, African American unemployment stands at the lowest rate ever recorded. And Hispanic American unemployment has also reached the lowest levels in history."
- "America has also finally turned the page on decades of unfair trade deals that sacrificed our prosperity and shipped away our companies, our jobs and our wealth," Trump said. "Our nation has lost its wealth, but we are getting it back so fast."
- "We expect trading relationships to be fair, and very importantly, reciprocal," Trump said. "We will work to fix bad trade deals and negotiate new ones."
- "I am asking both parties to come together to give us the safe, fast, reliable and modern infrastructure our economy needs and our people deserve," Trump said. He called on Congress to produce a bill allowing at least $1.5 trillion for infrastructure needs. Notably, Trump said private sector involvement will be useful where appropriate.
- "So tonight, I am extending an open hand to work with members of both parties -- Democrats and Republicans -- to protect our citizens of every background, color, religion and creed," Trump said. "My duty, and the sacred duty of every elected official in this chamber, is to defend Americans -- to protect their safety, their families, their communities, and their right to the American Dream. Because Americans are dreamers too."
- "As part of our defense, we must modernize and rebuild our nuclear arsenal. Hopefully never having to use it, but making it so strong and so powerful that it will deter any acts of aggression by any other nation or anyone else," Trump said. "Perhaps some day in the future, there will be a magical moment when the countries of the world will get together to eliminate their nuclear weapons. Unfortunately, we are not there yet, sadly."
- "As long as we are proud of who we are, and what we are fighting for, there is nothing we cannot achieve. As long as we have confidence in our values, faith in our citizens, and trust in our God, we will never fail," Trump concluded. "Our families will thrive. Our people will prosper, and our nation will forever be safe and strong, and proud, and mighty, and free."