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Donald Trump has entered a period of disruption to the world economy, threatening new tariffs against US allies and moving to dismantle Joe Biden’s domestic and foreign policy within hours of his return to the White House.
In extensive comments to reporters in the Oval Office on Monday night, Trump threatened to impose tariffs of up to 25 percent on imports from Canada and Mexico effective March 1, national funds and reduce US equity futures.
The newly elected 47th President of the United States also threatened to apply tariffs on Chinese imports of up to 100 percent if Beijing failed to agree a deal to sell at least 50 percent of the TikTok app to an American company, and tariffs on EU products unless they buy more oil America.
Comments and activity on world markets provided another reminder of Trump’s determination to increase global control and engage in strong negotiations to impose the will of America on important trading partners.
The Oval Office statements came a few hours after Trump used his inaugural address to promise an end to America’s “decline” and the start of a new era. “Golden Age” It’s based on a dramatic shift in the Biden administration’s ongoing agenda.
The 78-year-old president quickly announced aggressive new measures to boost fossil fuel production, deport immigrants, and deliver the populist and nationalist platform that swept him to victory in the year’s race. the past of the White House.
He has rescinded many of the Biden administration’s executive orders related to everything from advancing racial equality and prosecuting extremist Israeli settlers in the West Bank, strengthening Medicaid and promoting access to to vote.
The radical change included withdrawing the US from the Paris climate agreement and marked a statement of intent by the world’s most prominent right-wing politician, who was elected after promising to roll back the administration’s agenda. Biden.
Trump also announced that he would pardon people convicted of participating in the January 6, 2021 riot at the US Capitol, while his supporters attacked Congress to violently stop the certification of Biden’s victory in the 2020 election.
The opposition pardons sparked a remarkable comeback for Trump himself, who won last year’s election despite becoming the first president to be convicted of a crime and after trials that two counts of murder against him.
Trump’s business grew by the day. In his inaugural speech, Trump suggested tariffs were his preferred tool in international economic negotiations and would be important to raise US revenue, regardless of their potential to raise prices for consumers. America.
“Instead of taxing our citizens to enrich other countries, we will also tax foreign countries to enrich our citizens,” he said.
Trump said a plan to impose global tariffs on all imports — a measure he floated during his campaign — remains on the table.
Trump spoke in the Oval Office surrounded by key aides including chief of staff Susie Wiles, policy director Stephen Miller, and Peter Navarro, his top White House adviser on trade policy and manufacturing.
Demonstrating that immigration enforcement remains a domestic policy priority, Trump also signed a national emergency on the US-Mexico border and took measures to limit birthrights for those born to undocumented immigrants on US soil.
“That’s a big deal. . . We are the only country in the world that does this with birthright,” he said, although many other countries allow the right.
Trump’s move is being challenged in court for violating the 14th amendment of the US constitution.
The president also ordered the Pentagon to develop a plan to move troops to the US-Mexico border.
Trump has also designated drug companies as foreign terrorist organizations. Sending US special forces to Mexico to take them out “is possible. Strange things have happened,” he added.
Trump declined to say whether Immigration and Customs Enforcement would begin raids in major cities on Tuesday to take undocumented immigrants into custody. “I don’t want to say when it will happen, but it will happen, it has to happen, or we won’t have a country.”
Among his foreign policy pledges, Trump said the US would take back control of the Panama Canal and “build the strongest military the world has ever seen”, as he promised to end wars in Ukraine and the Middle East, he said “a peacemaker”.
