Trump likely to announce power bill cuts in speech…markets watch closely for tariff and Iran remarks

U.S. President Donald Trump’s address to the nation is scheduled to take place at 9 p.m. Eastern time at the U.S. Capitol. He is expected to focus mainly on plans to ease cost-of-living pressures. At a White House press briefing held today (24th), Press Secretary Karoline Leavitt said Trump would "lay out an ambitious plan to restore the American Dream for workers."

In connection with this, major foreign media reported that he is expected to unveil a “Taxpayer Protection Pledge” under which companies would commit to covering additional electricity charges incurred in areas where new AI data centers are built.

Big Tech companies’ data-center buildouts can strain the power grid and push up electricity rates. With the November midterm elections approaching, the move is being interpreted as an effort to contain rising power bills.

He is also expected to highlight achievements aimed at strengthening U.S. energy dominance, including measures to lower gasoline prices. He is likely to mention expanding domestic mining development, increasing oil and gas drilling, rolling back climate regulations, and efforts related to the extraction and sale of Venezuelan crude.

With tariff policy at a pivotal moment, remarks on the issue are also expected. Some Supreme Court justices are slated to attend the address. As Trump has previously criticized the Court’s ruling on reciprocal tariffs—using blunt insults such as calling its members disloyal to the Constitution and hurling crude epithets—any discussion of tariffs could significantly heighten tensions.

The guest list, which includes figures who could influence the upcoming election, is also drawing attention. The White House said Erika Kirk, head of Turning Point USA and the wife of conservative activist Charlie Kirk, who was killed last year, will attend the speech. Also invited are the parents of National Guard soldier Sarah Beckstrom, who was fatally shot in Washington, D.C., last year, and Claire Lai, the daughter of Jimmy Lai, founder of Hong Kong’s Apple Daily who is imprisoned in Hong Kong.

Democrats, meanwhile, are seeking to pressure Trump and the Republican Party by inviting victims of Jeffrey Epstein. Some Democratic lawmakers have decided to boycott the address altogether.

Another point of interest is that while the men’s ice hockey team that won at the Winter Olympics accepted the invitation, the women’s team declined. Trump had flown the men’s team—who beat Canada—to Washington, D.C., aboard Air Force One. The women’s team expressed appreciation for the invitation but politely declined, citing prior commitments.

How long Trump will speak is also a focus. His speech to Congress shortly after taking office last year lasted 1 hour and 40 minutes. His first-term State of the Union addresses typically ran about 1 hour to 1 hour and 20 minutes, but speech lengths have been trending longer in recent years. Given that Trump has said he has too much to cover in today’s address, he is likely to speak for more than 1 hour and 30 minutes.

Washington=Correspondent Lee Sang-eun selee@hankyung.com