President Donald Trump took office for the second time Monday, declaring that the “golden age of America begins right now,” and laying out top policy priorities that include raising tariffs, reclaiming the Panama Canal, securing the southern border and ending the “Green New Deal.”
“From this day forward, our country will flourish and be respected again all over the world. We will be the envy of every nation, and we will not allow ourselves to be taken advantage of any longer,” Trump said in his 30-minute inaugural address.
“Our top priority will be to create a nation that is proud, prosperous and free.”
As was expected, Trump stuck to broad policy goals in his speech. The details of how he’ll achieve many of goals are still unclear and will be up to Congress and his incoming cabinet to implement.
He planned to begin setting the stage for further agency actions by issuing a series of executive orders, starting Monday afternoon.
He doubled down on his threat to raise tariffs on U.S. imports to protect American industries. He also included his oft-repeated claim that tariffs are paid by foreign countries. They are paid by importers.
“I will immediately begin the overhaul of our trade system to protect American workers and families. Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens,” Trump said.
"For this purpose, we are establishing the ‘External Revenue Service’ to collect all tariffs, duties and revenues. It will be massive amounts of money pouring into our treasury coming from foreign sources.”
Trump also repeated his threat to take over the Panama Canal, saying that it should never have been given back to that country by President Jimmy Carter, who died Dec. 29.
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“The purpose of our deal and the spirit of our treaty has been totally violated," Trump asserted. "American ships are being severely overcharged and not treated fairly in any way, shape or form, and that includes the United States Navy, and above all, China is operating the Panama Canal, and we didn't give it to China. We gave it to Panama, and we're taking it back,” Trump said.
It was the only time Trump mentioned China in his speech. He also did not address the subject of Greenland, which he has said the United States should buy for national security purposes. He did say the Gulf of Mexico would be renamed the Gulf of America.
The canal is operated by the Panamanian government-owned Panama Canal Authority. A Hong Kong-based company runs ports at either side of the canal’s entrances, however. A neutrality treaty ensures no country’s vessels receive special access or treatment in using the canal.
Panamanian officials have denied any suggestion that a specific country’s vessels face discriminatory treatment.
On environmental policy, Trump pledged to revoke what he called the Biden administration’s “electric vehicle mandate," which he said would save the U.S auto industry and fulfill a pledge he made to the United Auto Workers.
“In other words, you'll be able to buy the car of your choice,” Trump said. “We will build automobiles in America again at a rate that nobody could have dreamt possible just a few years ago. And thank you to the auto workers of our nation for your inspiring vote of confidence. We did tremendously with their vote.”
EPA says the tailpipe emissions rule it adopted in 2023 is technology-neutral, and that manufacturers could meet the standards with a share of their fleets as low as 31% EVs by 2030.
Trump pledged to combat combat inflation and bring down the Americans' cost of living by increasing production of oil and natural gas.
He said he would "direct all members of my Cabinet to marshal the vast powers at their disposal to defeat what was record inflation and rapidly bring down costs and prices. The inflation crisis was caused by massive overspending and escalating energy prices, and that is why today I will also declare a national energy emergency. We will drill baby, drill."
To stem illegal immigration, Trump said he was declaring a national emergency and would be sending troops to the southern border and declaring drug cartels as foreign terrorists.
"All illegal entry will immediately be halted, and we will begin the process of returning millions and millions of criminal aliens back to the places from which they came," Trump said.
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