Trump Announces ‘Gold Card’ Scheme, Gives $397 Million To Pakistan
Trump's Congress speech announced tariffs, a Pakistan travel ban, English as the US official language, and a $5M citizenship scheme, and praised Musk while criticizing Biden.
On 4th March 2025, US President Donald Trump addressed a joint session of Congress, marking his first speech after becoming President for the second time. In a record-breaking speech lasting over 1 hour and 40 minutes, Trump made several major announcements, including some that directly affect India. Here’s a breakdown of the key points:
Reciprocal Tariffs:
Trump announced that starting 2nd April, the US will impose reciprocal tariffs on several countries, including India, the European Union, China, and Brazil. He criticized India’s high tariffs on US goods, calling the system “unfair.” This move could make Indian exports to the US more expensive, potentially hurting India’s economy. China responded aggressively, warning of a trade war if the US proceeds with these tariffs.
India’s Commerce Minister, Piyush Goyal, was in the US from 4th to 6th March to discuss a bilateral trade deal. Hopes are high that the issue will be resolved soon to protect India from the impact of these tariffs.
Trump Thanks Pakistan, But Imposes Travel Ban
In a surprising move, Trump thanked Pakistan for helping arrest a terrorist involved in the 2021 Kabul airport attack. However, he also announced a travel ban on Pakistan and Afghanistan due to security concerns, similar to the ban he imposed on seven Muslim-majority countries during his first term. This dual approach shows Trump’s unpredictable stance on Pakistan.
Another concern for India is the $397 million (?3,455 crore) given by the US to Pakistan for maintaining F-16 fighter jets. While the US claims the funds will be closely monitored to prevent misuse, India remains cautious given Pakistan’s history of supporting terrorism.
English as the Official Language of the US
Trump declared English as the official language of the US, which could impact Indian students and workers planning to move there. Strong English skills will now be essential for anyone visiting the US for studies or jobs.
‘American Gold Card’:
Trump introduced a new visa program called the ‘American Gold Card,’ allowing wealthy individuals to invest in the US, live there permanently, and gain citizenship. The card costs $5 million (?43 crore) and is expected to attract rich immigrants, boosting the US economy. However, this could be bad news for India, as data shows thousands of Indian millionaires have already left the country in recent years due to issues like high taxes, pollution, and inflation.
Other Key Announcements
Greenland: Trump expressed his desire to acquire Greenland, claiming it would benefit US national security and make Greenland “very rich.”
Ukraine Peace Talks: Trump revealed that Ukraine’s President Volodymyr Zelenskyy sent him a letter expressing readiness for peace talks, hinting at a possible end to the Russia-Ukraine war.
Praise for Elon Musk: Trump thanked Elon Musk for his work in the Department of Government Efficiency (DOGE), which has reportedly saved the US government $105 billion.
Criticism of Biden: Trump called Joe Biden the “worst President in US history,” blaming him for rising inflation and illegal immigration.
Trump’s speech is seen as historic and is expected to bring significant changes to global politics. While some announcements, like reciprocal tariffs, pose challenges for India, others, like the travel ban on Pakistan, may offer relief. The ‘American Gold Card’ scheme, however, could lead to a brain and wealth drain from India. As the world reacts to these developments, India will need to stay alert and adapt to the changing global landscape.
