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WSJ What’s News

Trump Defends Tariffs, Budget Cuts in No-Apologies Address

WSJ What’s News

The Wall Street Journal

News, Daily News

4.14.2K Ratings

🗓️ 5 March 2025

⏱️ 13 minutes

🧾️ Download transcript

Summary

A.M. Edition for Mar. 5. After a volatile day of trading as U.S. tariffs kicked in, President Trump previews further trade action while acknowledging his policies could trigger an "adjustment period." The WSJ's Brian Schwartz and Damian Paletta break down the speech. Plus, China sets a strong economic growth target and doubles down on home-grown AI. And WSJ AI Editor Ben Fritz shares how researchers hope to stop chatbots from “hallucinating.” Luke Vargas hosts. Check out WSJ’s special report, What's Ahead for AI.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

With record levels of dry powder available for investment, find out what's in store for private markets in 2025 and beyond.

0:06.6

Listen to crafting capital in partnership with UBS at partners.wS.J.com slash UBS, Spotify and Apple Podcasts.

0:19.0

President Trump defends his trade and government reform agenda in an unapologetic address to Congress.

0:24.6

And we are just getting started.

0:29.2

Plus, Commerce Secretary Howard Ludnik hints at a looming deal to reduce tariffs on Canada and Mexico,

0:36.4

and China sets a strong growth target and doubles down

0:39.9

on homegrown AI. It's Wednesday, March 5th. I'm Luke Vargas for the Wall Street Journal,

0:46.0

and here is the AM edition of What's News, the top headlines and business stories moving

0:51.2

your world today.

1:02.0

In his first major speech since the inauguration, President Trump told a joint session of Congress last night that his agenda, which he described as swift and unrelenting,

1:06.9

and which has included in immigration crackdown, cuts to the federal workforce, and stiff tariffs

1:11.9

on imports had already succeeded in revitalizing America's momentum.

1:17.2

Gone were appeals to unity.

1:19.7

Trump attacked Democrats as radical left lunatics and blamed former President Joe Biden

1:24.8

for the country's problems.

1:26.7

At multiple points, Democrats broke out in

1:29.1

booze, and just seven minutes into the speech, Democratic Representative Al Green of Texas was

1:34.4

escorted out after rising from his seat and shouting at the president, prompting an intervention

1:39.6

by House Speaker Mike Johnson. Finding that members continue to engage in willful and concern to disruption of proper decorum,

1:46.9

the chair now directs the sergeant-in-arms to restore order.

1:52.4

Remove this gentleman from the chamber.

1:55.0

So what did the record hour and 40-minute address tell us about what's in store?

...

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