Trump Has Promised These Major Economic Actions On ‘Day One’ | Global News Avenue

Incoming President Donald Trump has promised to issue major executive orders on his first day in office that could impact families’ finances and the economy.

President-elect Donald Trump has repeatedly promised in interviews, speeches and social media posts to take a number of actions on his first days as president. Although some major policy changes, such as tax cuts, cannot be implemented without congressional approval, Trump can use his presidential power to issue orders to the executive branch of government.

Here are some of the economically important policies Trump said he would implement by the end of Inauguration Day on Monday.

deport immigrants

Trump has promised to launch a mass deportation program of immigrants. There have been suggestions that Trump may sign several immigration executive orders on Day One, which he mentioned during campaign rallies as being on his agenda.

A widespread eviction program could have far-reaching economic consequences. For example, homebuilders rely on immigrant labor for their workforce, and builders say moving them out of the country would disrupt this important industry, driving up housing costs.

Tariffs targeting China, Mexico and Canada

tariff It has been a central and controversial part of Trump’s economic platform, and he has promised to implement some major initiatives on his first day in office.

Trump posted on Truth Social: “On January 20th, as one of my first executive orders, I will sign all necessary documents to impose a 25% tariff on all products from Mexico and Canada entering the United States, And ridiculous open borders,” the social media platform he owns in November.

He also said that if Chinese products do not crack down on fentanyl smuggling, he will impose an additional 10% tariff on Chinese products.

Mainstream economists say tariffs will raise costs for consumers and stoke inflation. Many forecasters, including Federal Reserve officials, believe tariffs will push up inflation 2025 depends in part on the number of countries and products targeted.

Towards a Bitcoin Strategic Reserve?

According to news reports, Trump plans to sign an order establishing a cryptocurrency advisory committee. This could be the first step towards Build a strategic Bitcoin inventoryHe promised to do so while speaking at a Bitcoin conference last year.