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Trading  | September 25, 2018

President Trump’s second address to the UN General Assembly didn’t include any bombshell revelations (like last year’s speech where Trump threatened North Korea with nuclear annihilation and referred to Kim Jong Un as ‘Little Rocket Man’), but it was just as much of a repudiation of the global order that the UN represents. In a speech that rejected internationalism and embraced the nationalist populism that Trump has long championed, Trump blasted “the ideology of globalism” and multinational organizations like the UN that he said infringe on national sovereignty. During the speech, Trump urged other nations to look out for themselves and their own interests – and allow the US to do the same.

“I honor every nation to pursue its own customs, beliefs and traditions. The United States will not tell you how to live or work or worship,” Mr. Trump said. “We only ask that you honor our sovereignty in return.

In a speech that lasted roughly 30 minutes, Trump vowed that the US would “not be taken advantage of any longer” and slammed both its friends and foes for taking advantage of the US’s defense spending and its trading largess.

Here are key takeaways courtesy of Bloomberg:

  • US pressure on Iran only going to increase, with oil sanctions coming in November.
  • Trump sees his “principled realism” in foreign policy paying big dividends since he took office, particularly on North Korea.
  • James points out that this speech was studded with messages for his domestic audience, on foreign aid, on higher gas prices, on immigration.
  • The US appears to be planning to overhaul foreign aid Trump praised Xi Jinping, but signaled he won’t back down on going after China on tariffs.
  • One country not mentioned at all really: Russia

Watch the full speech below:

 


A revolutionary initiative is helping average Americans find quick and lasting stock market success.

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