Trump's Says 'Little Disturbance' Possible Due To Tariffs In Speech To Congress As GM, Tesla, Energy Stocks Lift In After-Hours Trading: 'Auto Industry To Absolutely Boom'

Kaustubh Bagalkote

March 5, 2025

Benzinga

President Donald Trump‘s congressional address triggered significant after-hours market movements across a wide range of stocks.

Taiwan Semiconductor Mfg. Co. (NYSE:TSM) rose 0.77% to $181.38, while Apple Inc. (NASDAQ:AAPL) increased 0.72% to $237.63. Oracle Corp. (NYSE:ORCL) gained 0.97% to $158.99, with Super Micro Computer (NASDAQ:SMCI) showing a 4.42% after-hours jump and Palantir Technologies (NYSE:PLTR) advancing 3.18%.

Trump said, “Tariffs are protecting the soul of our country. Tariffs are about making America again and making America great again, and it's happening. It will happen rather quickly—there may be a little disturbance, but we're okay with that.”

He added, “Tariffs—it’s a beautiful word, isn't it? Along with our other policies, they will allow our auto industry to absolutely boom.”

The automotive sector demonstrated robust performance, with Tesla Inc. (NASDAQ:TSLA) climbing 1.80% to $276.93, General Motors Co. (NYSE:GM) surging 5.00% to $47.48, and Ford Motor Co. (NYSE:F) increasing 1.64% to $9.27.

Energy stocks also responded positively, with ONEOK (NYSE:OKE) up 2.34%, BP (NYSE:BP) rising 1.46%, and Schlumberger (NYSE:SLB) gaining 1.13%. Trump Media & Technology Group (NASDAQ:DWAC) saw a 1.62% increase to $22.63.

Tariff policies took center stage, with Trump promising to implement reciprocal trade barriers starting Apr. 2, a move that could significantly impact international trade dynamics and corporate strategies.

Economist Jason Furman quickly weighed in, posting about potential retaliatory trade measures: “Maybe we’ll VAT them in retaliation for them VATing us!”