Trump evades mention of tariff rollbacks in State of the Union address

Raw Exclusives raw story March 4, 2026 0 Comments

Trump evades mention of tariff rollbacks in State of the Union address

GettyImages-2262896440-e1772015115269 Trump evades mention of tariff rollbacks in State of the Union address

Good morning. President Donald Trump delivered his State of the Union address last night to a nation increasingly skeptical of his handling of the economy and basic business issues. Some key points leaders can take away from the speech, which is the longest speech ever recorded, at 1 hour and 47 minutes, and the first delivered amid a partial government shutdown:

In economics: The president spoke of an economy that is “thriving like never before” and is in relatively good shape, growing at an inflation-adjusted rate of 2.2% last year, while unemployment reached 4.3%. But many voters are pessimistic Lukewarm wage growthAnd with consumer sentiment 20% lower than it was when Trump was sworn in. As my colleague Jeff Colvin pointed out, this disconnect It can create a backlash. Whether economic growth is In the shape of the letter K or E-shapedSigns of discontent and stagnation are evident among 80% of consumers. One nod: A Suggested $1,000 401(k) match. For the “forgotten American workers” without such plans. This could cost about $10 billion, a modest amount compared to the nearly $4 trillion in tax cuts over the next decade from the “Big Beautiful Bill.” Those cuts are It will likely shorten your lifespan From Social Security, Medicare, and Medicaid, and it will not help a The national debt now exceeds ($38.5 trillion, with debt-to-GDP ratios set to rise to 130% within the next decade). The takeaway: There are economic tailwinds from tax cuts and technology, but rising deficits and a cost-of-living crisis could limit growth.

On tariffs, trade and geopolitics: Trump acknowledged the “unfortunate ruling from the Supreme Court.” became illegal He issued $133 billion in tariffs last year using emergency powers, but he pledged to continue his efforts and take advantage of other laws. No refunds mentioned. (FedEx has already done so.) Sued for full refund, Costco File a lawsuit before judgment.) Not to mention that the deficit in goods and services has increased significantly $70.3 billion in December Or that Democrats calculate that tariffs cost the average family About $1700 During the past year. Bottom line: Continue to stress test those supply chains, monitor geopolitics and minimize long-term risks.

Regarding technology, talent and state of the industry: There are no surprises for those who have followed the path of DEI, oil and gas companies, or health care under this administration. Health insurance companies and drug makers continue to be vilified, and Trump has spoken of his focus on creating more transparency through… Moves like TrumpRx. But he talked about forcing technology companies to build their own power plants for their data centers to keep energy costs under control. I have noticed a softer tone on some issues, from welcoming legal immigrants to cracking down on insider trading. Takeaway: Midterm is almost here, so let the games begin. Volatility is the norm now.

Contact the CEO daily via Diane Brady at diane.brady@fortune.com

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