Trump talks China tariffs, oil and US immigration in State of the Union address
US president Donald Trump addressed the American public in his State of the Union address on Tuesday, speaking on the strength of the US economy and immigration
Addressing the American public on Tuesday night, Trump spoke about the strength of the American economy. ‘The economy is thriving like never before,’ Trump said.
It comes after the US announced strong job data on Friday, with an extra three hundred thousand jobs added to the economy. Trump said the number almost doubled what was expected number.
Non-farm payrolls grew by 304,000 in January 2019, far exceeding the 165,000 jobs expected.
‘We have more women in the workforce than ever before’ Trump said as the democratic congresswomen stood to applaud, wearing white in support of women's rights.
China and US relations
Trump spoke about putting tariffs on China in his speech, saying it was integral to protect “American jobs”.
‘We are working on a new trade deal with China, but it must include real structural change.’ Trump said.
Trump called attention to his efforts to rewrite trade deals with China and other nations to make the terms more favourable to the US.
Immigration and US border wall
Trump vowed to build the border wall, calling for a US immigration system that is "safe, lawful, modern and secure" with wall funding for $5.7 billion rejected by Democrats.
The wall issue between the Democrats and Trump triggered a historic 35-day partial government shutdown.
Trump told Americans that illegal immigration was an urgent national crisis.
‘In the past, most of the people in this room voted for a wall, but the proper wall never got built. I will get it built,’ Trump said.
Oil prices edge higher
Oil prices edged higher for the first time in three sessions on Wednesday. Traders focused on Trump’s speech, remaining cautious..
US West Texas Intermediate WTI crude futures were at $53.74 per barrel up 8 cents from their last settlement.
US sanctions on Venezuela have supported prices by helping tighten global supplies.
Trump again showed support to Juan Guiado, as the rightful leader of Venezuela during his speech.
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