Executive Actions on Day One: Trump Unleashes Historic Wave
Key Executive Orders
* Energy: National economic emergency declared, opening up powers to boost energy production.
* TikTok: Reprieve granted, extending a deadline and confirming no liability for supporting TikTok.
* Tariffs: Plan outlined to address trade vision, potentially delaying immediate tariffs.
* Inflation: Presidential memorandum directs federal agencies to explore cost reduction measures.
Executive Action Range
* Energy: Cut red tape, increase natural resources access, reverse Biden's offshore drilling restrictions.
* Immigration: Enforcement actions on US and southern borders, potential mass deportations.
* Finance: Tariff threats, consideration of "revenue-raising" tariffs.
* Crypto, TikTok, Student Loans: Surprises expected, including pardons for Jan. 6 rioters.
* Federal Workforce: Tightening control over government workers.
Market Impact
* Capital Economics predicts "bumpy" path ahead, despite Trump's aim for a splash.
Wall Street Journal Report on Tariffs
* Trump to outline trade vision but hold back on immediate new tariffs.
* Study of trade policies and US-China relations ordered.
TikTok Lifeline
* Trump extends deadline to protect national security.
* TikTok responds with gratitude, despite legal questions about Trump's authority.
* Senator Cotton warns of potential liability for companies aiding TikTok.
Student Loans
* Potential reversal of Biden's forgiveness policies.
* Congressional action also being considered.