President Donald Trump delivered a joint address to Congress on March 4, 2025, marking his first such speech since being inaugurated for a second term. The speech lasted approximately 1 hour and 40 minutes, making it the longest joint session address in U.S. history.
Ukraine and Russia Are “Ready for Peace”
Source: Reuters
Trump focused on Ukraine, emphasizing U.S. support and efforts to end the war. He referenced a letter from Ukrainian President Volodymyr Zelensky, stating Ukraine was ready for peace talks. He also mentioned strong signals from Moscow, showing Russia’s willingness to negotiate.
Calling the war unnecessary, he promised to push for a resolution. As he ended his speech, he vowed to restore America’s golden era and assured a brighter future.
Top Priority: Rescuing the U.S. Economy
Trump made rescuing the economy his top priority. He blamed the Biden administration for economic decline and inflation, citing rising energy and food prices. Millions struggled with basic needs, he said, due to Biden’s failed policies.
He pledged to reverse the damage and lower costs for families. He highlighted the Government Efficiency Board as a tool to cut waste and reduce inflation. Republicans cheered when he mentioned Elon Musk, seated in the audience.
Tax Cuts for Americans
Source: Reuters
Trump mocked Democrats for opposing tax cuts, claiming they could never win without supporting them. He emphasized that passing these tax cuts is a crucial step in strengthening the economy, referencing the House GOP’s budget plan. He even warned Democratic lawmakers that failing to support the cuts could hurt their chances of reelection.
The president also proposed making income tax cuts permanent, a move estimated to cost at least $4.5 trillion over the next decade. Additionally, he called for eliminating taxes on tips, overtime pay, and Social Security benefits, aiming to provide more financial relief to American workers.
Trump Proposes Tax Deduction for Interest on American-Made Car Loans
Trump has announced his intention to make interest payments on car loans tax-deductible, but only for vehicles manufactured in the United States.
He expressed confidence that his policies would drive unprecedented growth in the auto industry, claiming that new manufacturing plants are opening and major deals are being made. According to him, these measures will lead to a significant expansion of the U.S. automotive sector.
Last month, Trump hinted at imposing high tariffs on imported cars, suggesting they could be around 25%. He stated that further details would be provided in early April. He also noted that several car manufacturers have already committed to building large-scale production plants in the U.S. in response to his policies.
Boosting Rare-Earth Metal Production
Trump announced a plan to expand U.S. mining for rare-earth metals and critical minerals. He pledged historic action later in the week to increase domestic production.
Materials like lithium, uranium, and graphite power clean energy, defense systems, and electronics. He stressed the importance of securing these resources for national security.
New Tariffs Take Effect on April 2
Trump condemned unfair trade practices, vowing to implement reciprocal tariffs. He accused Mexico and Canada of enabling fentanyl trafficking, which caused thousands of deaths.
The President demanded companies manufacture in the U.S. or face tariffs. He called the current trade imbalance unacceptable and promised to put America first.
The tariffs will take effect on April 2. Trump praised major investments from Apple, Oracle, and TSMC, saying they would strengthen U.S. industry and AI leadership.
Fighting Fraud and Cutting Bureaucracy
Source: Reuters
Trump introduced the Government Efficiency Board (DOGE) and credited Elon Musk for leading anti-fraud efforts. He claimed they uncovered hundreds of billions in waste, using the recovered funds to cut debt and fight inflation.
He promised to dismantle unaccountable bureaucracies and restore democracy. Any official resisting reform, he warned, would be removed. He criticized regulations and slow federal approvals, calling them obstacles to progress.
Many federal employees, he noted, had not returned to work despite the end of COVID-19 remote policies.
Trump’s Additional Remarks
Source: Reuters
Trump accused Democrats of rejecting his successes. Even if he solved America’s biggest problems, he said, they would never acknowledge his achievements.
On immigration, Trump deployed the military to stop an “invasion” at the southern border and froze federal hiring.
He celebrated ending the Green New Deal, exiting the Paris Climate Agreement, and blocking EV mandates to protect the auto industry.
Trump claimed he ended government weaponization, accusing Biden’s administration of politically motivated prosecutions. He pledged to restore free speech and dismissed legal cases against him as baseless.
On national security, he vowed to take on Mexican drug cartels. He also announced plans to reclaim the Panama Canal and promote U.S. shipbuilding.
Finally, he expressed renewed interest in Greenland. He promised its people wealth, protection, and rapid growth if they joined the United States.
Impact on Cryptocurrency Markets
Trump’s tax cuts could increase disposable income, leading to higher retail investments in Bitcoin and altcoins. Lower long-term taxes might encourage sustained crypto adoption, especially among new investors looking for alternative assets. His emphasis on domestic manufacturing and technological advancements could drive blockchain adoption in supply chain management, enhancing transparency and efficiency.
Additionally, increased AI and tech investments may accelerate crypto-related innovations. Elon Musk’s involvement in Trump’s Government Efficiency Board (DOGE) could further legitimize cryptocurrencies, particularly Dogecoin, while potential government blockchain adoption might strengthen the role of crypto in finance and governance.
Source: TradingView Data
Trump’s tariffs and trade restrictions could create economic instability, increasing market volatility that may affect both traditional assets and cryptocurrencies. While some investors might turn to Bitcoin as a hedge, panic-driven sell-offs could also occur. His administration’s unclear stance on crypto regulation adds further uncertainty, with potential restrictions on stablecoins, DeFi, and crypto exchanges possibly slowing industry growth.
Moreover, his aggressive foreign policies could escalate geopolitical tensions, leading to regulatory crackdowns on cross-border crypto transactions. Governments might impose stricter controls on stablecoins and decentralized finance platforms, limiting their accessibility and usage.
