Trump Says Tariff Threat Drove U.S. Investments, Blasts Biden on Energy

WASHINGTON, Mar. 5, 2025 – In his joint congressional address to the House and Senate on Tuesday night, President Donald Trump painted an economic vision centered around “America First” tariffs that, he said, had already promoted technology-focused investment in America.

He also drew a sharp critique of former President Joe Biden’s role in pushing for passage of the CHIPS and Science Act, among other topics, and suggested that the money for the law was not well spent.

“Thanks to our America First policies we are putting into place, we have had $1.7 trillion of new investment in America in just the past few weeks,” Trump said. Touting a proposed $200 billion investment from Japanese investment company Softbank, which ultimately led to a $500 billion investment in AI data centers with OpenAI and Oracle’s Larry Ellison, Trump said they made an investment “they wouldn’t have done if Kamala [Harris] had won.”