Trump used his short, 60-minute speech to Congress to touch on various subjects, such as global market, immigration, and peace. This led the stock market to reach the 21,000 mark, as the speech showed positivity for the investors and the current residents. You know, his forte.
Trump touches on issues
Trump praised the immigration system in Canada, as they choose who has citizenship based on their economic skills instead of family ties. In Canada, 63% of people given citizenship are granted it because they will help expand them economically, while only 24% being granted for family ties.
It is the exact opposite in the United States.
Trump said that Canada’s, Australia’s, and “many other nations” immigration systems were better than the U. S’s, which is an “outdated” system that hurts American workers. During the speech, Trump said that he plans to opt for a merit-based system, and wants to switch from the current system, which will eventually be beneficial to all. He explained that it would help in raising the wages of the workers, and save dollars, which will only help the middle class, struggling families in a better manner. People started believing that he was there for him even though he didn’t get any real substance on his plans for helping the economy.
Global markets go up
In Trump's congressional speech, he said that he would deliver “massive” tax relief to the middle class and corporate tax cuts, and he plans on using the money to spend heavily on infrastructure and ease regulations. Many investors wish Trump had given more details to his plan on how his administration would pay for everything but were willing to pay it anyway.
Sadly, this idea may be short lived. If Congress puts up roadblocks, or Trump begins to act less presidential, then the plan won't see the light of the sun, said Brian Battle. Investors are saying that there will be 66.4% probability of a March hike.
Still, Trump’s biggest reason for having any approval rating at all is his idea for a wall on the Mexican border.
Before the speech, Trump said that the work on the construction of the wall along with the southern border would begin soon, which many Republicans agreed with. But in private, Trump softened his position on the border, suggesting that they allow legal status to millions of undocumented immigrants who hadn’t committed any major crime, to the disagreement of his party. In the speech, Trump ignored the topic altogether, making his supporters wonder what his stance will be.
