Key messages and takeaways from the US President’s State of the Union address:
Celebrating economic strength: the US grew at a lower pace (+2.3%) compared with the Eurozone  (+2.5% YoY) in 2017.
Announcing a USD 1.5 trillion investment plan for infrastructure projects: endangers stability of the debt after recent tax cuts, at odds with willingness to reduce the government weight in the economy.

Announcing a 4-pillar plan on immigration policy (regularization of dreamers, the wall on the southern border, replace visa lottery with selective system, limiting sponsorship), significant constraint on the corporate sector, increases partisanship and announces new potential government shutdowns. 

Highlighting a wave of deregulation: Instead of 1579 changes announced only 67 deregulatory steps taken for now. Increases the already high risk of bubble.
Praising a new trade policy. Unilateralism and protectionism isolated  the US and liberated circumventing strategies  (CPTPP, CETA).