Not at all did their president waste time, after his inauguration, as he immediately announced measures to implement many of his election promises, including on immigration, energy, military and federal labour force, considering many of them as a reversal of his predecessor’s policies, Joe Biden. “We will immediately restore the integrity, adequacy and loyalty of the US government,” Trump said in his opening speech yesterday. “With these actions, we will begin the complete restoration of America and the revolution of common sense”. CORVERSE These actions included the mandate to the attorney general not to take action against TikTok for 75 days, the recall of 78 Biden-era ordinances—including those related to immigration and climate—and the U.S. departure again from the Paris Agreement. However, it is expected that many of Trump’s decrees will be court-married, according to Bloomberg. The most notable, however, was the absence of any explicit mandate for customs duties, particularly for China. But Trump said Monday night that he could impose duties on Mexico and Canada by 1 February and is still considering the possibility of universal tariffs on all imports, although not directly, noted Handelsblatt. While Trump continues to sign more decrees Monday night in Washington, a brief review of what has so far been known to his government plans to launch, from his speech, public information on the ordinances, updates from upcoming officials and public statements. DIVERSION 1. Suspension of TikTok Trump temporarily suspended TikTok’s ban in the U.S., giving the company and its Chinese parent ByteDance Ltd. more time to reach an agreement on popular application that will solve US long-term concerns about national security. This move gives the video sharing platform a 75-day suspension. 2. Increase in customs duties in Mexico and Canada Trump will ask federal agencies to study US political tariffs and trade relations with China, Canada and Mexico, according to forthcoming officials. “I will immediately begin reforming our trading system to protect American workers and families,” he said. Trump also said he plans to put into effect tariffs of up to 25% in Mexico and Canada by 1 February. 3. Establishment of an external revenue agency Trump said he would create an External Revenue Agency to collect customs duties, adding that “great sums will flow into our Public Fund coming from foreign sources.” “Instead of taxing our citizens to enrich other countries, we will impose tariffs and taxes on foreign countries to enrich our citizens,” he said. 4. Emergency inflation Trump instructed services and organizations “to provide urgent price relief”, including cost and housing supply, reduction of health care costs and elimination of climate policies that raise energy prices. 5. Migration measures Trump signed a series of decrees marking a dramatic change in immigration policy and will launch new boundaries on both legal and illegal immigration. Trump declared a national emergency at the southern border. The White House said in an announcement that it would develop armed forces, including the National Guard, to “join border security.” “I will send troops to the southern border to ward off the disastrous invasion of our country,” Trump said. Trump also wants to complete a wall on the US – Mexico border, an effort that began in his first term. Trump in his speech also said that the government “will start the process of returning millions and millions of foreign criminals back to the places from which they came.” It is expected to offer new powers to officials of the Immigration and Customs Service and the Border Protection Agency to carry out deportations. However, the new president also signed a decree that seeks to end the automatic birth right to citizenship for the children of those who are not legally in the country, as well as for those who are legally but only temporarily, such as tourists, students and those who have a job visa. “We are the only country in the world to do this with the birth right, as you know, and it is absolutely ridiculous,” Trump told the Oval Office. “We think we have very good reasons” for the change, he said. Trump plans to suspend the resettlement of refugees for six months and will end the “catch and release”, the policy with which immigrants are released while awaiting hearings about their asylum status. He signed a declaration to end the asylum process, which, according to officials, will allow immediate removal of those already in the country and awaiting court hearings. The government will also seek to restore the “stay in Mexico” policy, which requires asylum seekers to remain in Mexico before the date of the immigration court in the US. 6. Strengthening domestic energy production Similar to his actions on migration, Trump invokes emergency powers in an effort to strengthen domestic energy production and undo Biden era policies aimed at combating climate change. A summary of White House plans says Trump “will release American energy by ending Biden’s policies on climate extremism, rationalizing licensing” and reviewing for possible overturning “all regulations imposing undue burdens on energy production and use, including mining and processing minerals that are not fuels.” Trump plans to open more areas for oil and gas exploration, including offshore areas and Alaska. “We will drill, baby, we will drill,” he said in his speech. He also said he plans to refill the U.S. Oil Strategic Reserve “to the top” and “export American energy, around the world”. The government will end the lease of areas for “major” wind parks, which, according to the White House, “degrade our natural landscapes and fail to serve American energy consumers”. 7. End of subsidy for electric cars Trump signed a decree to eliminate what he called a “order for electric vehicles” in part by ending subsidies for vehicles and ending state discharges from pollutant emissions “working to limit gasoline car sales”. As he did in his first term, Trump will again withdraw the US from the 2015 Paris Agreement. However, it is not expected to be done immediately: The signatories must submit a formal notice to the United Nations to launch the withdrawal, and then wait a year to enter into force. 8. Supporting California water supply The Trump government will seek to restart its first term of office to channel more water from northern California to the south, in the Central Valley and southern California. Trump has said that fish protection policies, such as the endangered fish of Delta, deprive farmers of water. 9. Ending teleworking in the public domain Trump ordered all heads of ministries and agencies in the executive department to eliminate job options from home and return employees to living work “as soon as possible”. The White House earlier in the day stated that only 6% of government employees “work in person”. 10. Recruitment freeze in federal administration The government will freeze recruitment for federal employees, except for military officers or those related to immigration enforcement and national security. The White House said earlier in the day that it intends to “end the march of the useless and overpaid DEI activists buried in the federal labor force.” Trump also ordered all agencies to cease issuing or publishing any new regulations until they were reviewed by the upcoming government or to entrust this review “to any other person appointed or appointed by the President, in accordance with the applicable legislation”. 11. U.S. withdrawal from the agreement on the global minimum tax rate for multinationals Trump withdrew the US from the agreement on the global minimum tax rate for multinational 15%, negotiated by the government of his predecessor Joe Biden with nearly 140 countries. The Member States of the European Union, Britain and other countries have adopted the global minimum tax rate of 15% for multinationals. However, the American Congress never approved the measures needed to become part of national legislation in the US. In this country the minimum tax rate is roughly 10%, a level set with the historic tax reduction package passed in 2017 with the approval of Republicans. Trump also ordered the Treasury to prepare options for “protection measures” against countries that have introduced – or are likely to adopt – tax rules that disproportionately affect US businesses. 12. Suspension of American development aid abroad for 90 days The suspension of US development aid for 90 days abroad was ordered yesterday by the Republican new president of the United States, because he wants to be reviewed so that he can be judged whether he is in line with his foreign policy and whether it is effective, according to him. In particular, the Presidential Executive Order states: ‘All ministries and heads of services responsible for the U.S. international development aid programmes’ are ordered ‘to cease immediately’ the undertaking of new commitments and decisions for disbursement. It is not clear to this stage which programmes, which countries, which non-governmental organisations and which international organisations may be affected by this decision.
USA: Trump’s List of First Financial Measures
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