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Economics

Checks and Balance newsletter: Joe Biden’s state-of-the-union speech

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This is the introduction to Checks and Balance, a weekly, subscriber-only newsletter bringing exclusive insight from our correspondents in America.

Joe Biden delivered a party-convention (state-of-the-union) speech, writes James Bennet, our Lexington columnist

No one got whacked over the head with a cane, but in other respects Joe Biden’s state-of-the-union speech proved to be one of those moments in which I found myself wondering if American politics is returning to its 19th-century mores—thanks in part to social media and other 21st-century technology. The Progressive era introduced institutions that restrained some of the excesses of partisanship, such as the civil service. It also inculcated ideals of bipartisanship and decorum that are now fading away. They may have been debts vice was paying to virtue—even at its most seemingly decorous, politics is always a rough business—but I think we will miss them if they truly disappear. 

It is a bit melancholy that Mr Biden, with his veneration for the rites of Washington, would find himself compelled to deliver a state-of-the-union address that was in many respects more like a party-convention speech. But this has been coming for years, since even before a Republican congressman shouted “You lie” at President Barack Obama in 2009 during an address to a joint session of Congress. The next year, in a state-of-the-union speech, Mr Obama took the extraordinary step of chiding the Supreme Court, for a decision related to campaign finance—precedent for the shot Mr Biden took Thursday night at the justices for overturning Roe v Wade. In 2020 Nancy Pelosi, then speaker of the House, theatrically tore apart her copy of President Donald Trump’s speech after he finished delivering it.

Mr Trump, with his contempt for what he sees as the pretences of a cynical, transactional business, accelerated the trend towards open partisanship in all aspects of governing. The clownish displays by his minions in the House chamber on Thursday night, with their heckling and their MAGA hats or t-shirts, undermined the subsequent pious outrage of Republicans over Mr Biden’s politicking. 

It is an axiom of American politics that presidential elections are a referendum on the incumbent. But in this campaign Americans have a choice between two presidents, neither of whom they much like. For each man the path to a second term lies through negative partisanship, ie, persuading voters that the other guy is worse. It will be a brutal campaign. 

And that made the more humane moments in the House chamber on Thursday night seem all the more precious, even if they were flashes of old-style senatorial clubbiness. “I know you don’t want to hear any more, Lindsey, but I gotta say a few more things,” Mr Biden said towards the end of his speech, singling out Lindsey Graham, a senator from South Carolina. Mr Graham has remade himself as an acolyte of Mr Trump, but, clearly delighted by the presidential attention, he roared with laughter. 

And Mr Biden drew his most powerful contrast with Mr Trump by closing on a high note. It is another axiom of American politics that presidential campaigns are about the future, and Mr Biden is out to paint Mr Trump as obsessed with grievances from his past. Mr Biden’s refrain at the end of the speech became “I see a future,” as he envisioned more freedom, fairer taxation, less gun violence. “I see a future for all Americans,” he said, and—the partisanship of his speech notwithstanding—he added, “I will always be a president for all Americans.”

Economics

Trump advisor Hassett confident tariffs will stay despite judges’ ruling

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National Economic Council Director Kevin Hassett speaks to reporters at the White House in Washington, D.C., U.S., April 14, 2025. 

Kevin Lamarque | Reuters

A top economic advisor to President Donald Trump expressed confidence Thursday that court rulings throwing out aggressive tariffs will be overturned on appeal.

Kevin Hassett, director of the National Economic Council, said in an interview that he fully believes the administration’s efforts to use tariffs to ensure fair trade are perfectly legal and will resume soon.

“We’re right that America has been mishandled by other governments,” Hassett said during a Fox Business interview. “This trade negotiation season has been really, really effective for the American people.”

The comments follow a ruling from judges on the Court of International Trade who said Trump exceeded his authority on tariffs, which are aimed both at combating barriers against American goods abroad and stemming the flow of fentanyl across the U.S. border.

While the Centers for Disease Control and Prevention has said that fentanyl is the primary driver in domestic overdose deaths, the judges ruled that related tariffs “fail because they do not deal with the threats set forth in those orders.”

Hassett bristled at the ruling and said the administration will continue its anti-fentanyl efforts.

“These activist judges are trying to slow down something right in the middle of really important negotiations,” he said. “The idea that the fentanyl crisis in America is not an emergency is so appalling to me that I am sure that when we appeal, this decision will be overturned.”

The administration has multiple options to get around the judges’ ruling, including other sections of trade laws it can utilize. However, Hassett said that’s not the plan at the moment.

“The fact is that there are measures that we can take with different numbers that we can start right now. There are different approaches that would take a couple of months to put these in place,” he said. “We’re not planning to pursue those right now, because we’re very very confident that this ruling is incorrect.”

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America’s immigration detention centres are at capacity

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Demand for American degrees is sinking

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Trump’s war on universities is driving talent away

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