The first day of Donald Trump's presidency was not solely marked by ceremonial events. According to The New York Times, the 47th President of the USA signed "nearly 100 executive orders" on inauguration day, serving as the first step in implementing his campaign promises on the economy, domestic policy, and even TikTok.
As Trump emphasized in his speech, the new administration will "immediately restore the integrity, competence, and loyalty of the American government," with the overarching theme of the presidency being "putting America first."
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Open account Try demo Download mobile app Download mobile appSome of the signed directives directly undo changes introduced by the outgoing Joe Biden administration, such as the cancellation of the so-called Climate Corps, which worked on climate change prevention. Trump also ordered a review of one of Biden's most significant economic laws, the Inflation Reduction Act.
A surprising aspect was Trump's relatively brief reference to tariffs. While he directly addressed 25% tariffs on goods from Mexico and Canada, China, which was a central focus during the campaign, was notably absent from explicit declarations.
Below is a list of the most important acts signed on inauguration day:
Trade and Economy
- Department of Government Efficiency (DOGE): Creation of a new department led by Elon Musk to improve government efficiency.
- Tariff Review: Announced plans to review US trade relations with China, Canada, and Mexico, with potential tariffs of up to 25% on Mexico and Canada by February 1. These measures aim to protect American workers and interests.
- Treasury Office: Proposed a new agency to collect tariffs, shifting the tax burden from US citizens to foreign entities. Trump described this as a strategy to generate significant revenue from international sources.
- TikTok Ban Temporarily Suspended: Trump granted a 75-day extension for TikTok to negotiate a resolution addressing US national security concerns, delaying enforcement of the ban.
- Inflation Emergency: Trump instructed federal agencies to eliminate climate-related policies perceived as inflating energy prices, aiming to reduce housing and healthcare costs.
The Canadian Dollar is one of the weakest currencies today. The CAD is losing ground due to potential US tariffs that may be imposed within the next 10 days. However, it’s worth noting that despite today’s dynamic gains in the USDCAD pair, the exchange rate is merely recovering losses from yesterday, which resulted from the sharp weakening of the US dollar. (Source: xStation5)
Pardons
- Trump issued full pardons to approximately 1,500 individuals involved in the events at the Capitol on January 6 and commuted sentences for 14 others.
Immigration
- State of Emergency at the Border: Trump declared a state of emergency at the southern border, deployed military forces, and resumed the US-Mexico border wall project.
- Deportations: Expanded enforcement powers to begin mass deportations of individuals deemed “criminals.”
- End of Birthright Citizenship: Issued an order to eliminate automatic citizenship for children born to non-legal or temporary residents, including tourists and visa holders.
- Asylum Policy Review: Suspended refugee resettlements for six months, ended the “catch and release” policy, and reinstated the “remain in Mexico” policy, requiring asylum seekers to wait in Mexico for court hearings.
- Death Penalty for Illegal Immigrants: Ordered the Department of Justice to seek the death penalty for illegal immigrants convicted of maiming or murdering Americans.
- Cartels and Gangs Designated as Terrorist Organizations: Declared MS-13, Tren de Aragua, and Mexican drug cartels as foreign terrorist organizations, enabling expedited deportations under the Enemy Alien Act
Energy and Climate
- Withdrawal from the Paris Agreement: Resumed the process of withdrawing from the 2015 Paris Climate Agreement, requiring a year-long procedure.
- Increase in Domestic Energy Production: Invoked emergency powers to review and reverse climate regulations seen as burdensome to energy production.
- Expansion of Oil and Gas Exploration: Opened new areas, including offshore regions and Alaska, for exploration. Trump also pledged to refill the Strategic Petroleum Reserve to full capacity.
- Wind Farm Restrictions: Halted the availability of new lands for wind farm investments, citing their impact on natural landscapes and limited consumer benefits.
- Changes for Electric Vehicles: Eliminated subsidies and regulatory exemptions promoting electric vehicles, focusing instead on gasoline-powered cars.
- Water Redistribution in California: Resumed efforts to divert water from Northern California to farmers in the Central Valley, reducing protections for endangered species.
Gender and Cultural Policies
- Biological Gender Policy: Announced an official US policy recognizing only two genders (male and female), mandating that government documents reflect these definitions.
- Elimination of DEI Initiatives: Ended diversity, equity, and inclusion (DEI) initiatives in federal agencies and military operations, citing a focus on merit-based governance and avoiding "radical political theories."
National Security
- Reinstatement of Vaccine Opponents: Ordered reinstatement with back pay for military personnel dismissed for refusing COVID-19 vaccinations.
- Withdrawal from WHO: Signed an order withdrawing the US from the World Health Organization, following earlier criticisms of the institution.
Federal Workforce
- Return-to-Office Mandate: Directed federal employees to return to in-office work, ending remote work arrangements.
- Federal Hiring Freeze: Imposed a hiring freeze on non-military federal positions, except for roles related to immigration enforcement and national security.
- Regulation Freeze: Suspended all new regulatory actions for review by the incoming administration.
Cryptocurrencies
Bitcoin was indirectly one of the losers of yesterday’s inauguration. Despite speculation about strategic reserves, Donald Trump did not mention cryptocurrencies even once. As a result, Bitcoin erased nearly all of Monday’s gains.
On the other hand, during the inauguration, World Liberty Financial (WLD), a company linked to Donald Trump, invested over $100 million in various DeFi projects, including $47 million each in Ethereum and Bitcoin. Furthermore, over the weekend, WLD invested an additional $50 million in Ethereum. This suggests that despite the lack of explicit acknowledgment in his speech, Donald Trump continues to support the development of the cryptocurrency market. (Source: xStation5)
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