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Donald Trump has ushered in an era of turmoil in the global economy, threatening to impose new tariffs on US allies and moving to dismantle Joe Biden's domestic and foreign agenda just hours after returning to the White House.
In wide-ranging comments to reporters in the Oval Office on Monday evening, Trump It threatened to impose tariffs of up to 25% on imports from Canada and Mexico as early as February 1, hitting the United States. Countries currencies It pushed US stock futures lower.
The new forty-seventh US president also threatened to do so Imposing duties on Chinese imports Up to 100 percent if Beijing fails to agree a deal to sell at least 50 percent of TikTok to a US company, and tariffs on EU products unless it buys more US oil.
These comments and the shock to global markets were another reminder of Trump's willingness to upend the global order and engage in high-stakes coercive negotiations to impose America's will on major trading partners.
The Oval Office comments came just hours after Trump used his inaugural address to pledge to end American “decline” and begin a new era. “golden age” Based on a radical reversal of the Biden administration's progressive agenda.
The 78-year-old president quickly announced bold new steps to boost fossil fuel production, deport immigrants and advance the populist and nationalist platform that propelled him to victory in the White House race last year.
He has rescinded dozens of Biden's executive orders related to everything from promoting racial equality and punishing extremist Israeli settlers in the West Bank, to strengthening Medicaid and promoting voting access.
The comprehensive overhaul included once again withdrawing the United States from the Paris climate agreement, and was a statement of intent by the world's leading right-wing politician, who was elected after promising to reverse the Biden administration's agenda.
Trump also announced that he would pardon people convicted of participating in the January 6, 2021 riot at the US Capitol, when his supporters stormed Congress to violently stop the certification of Biden's 2020 election victory.
The pardon of the rioters sparked the remarkable return of Trump himself, who won last year's elections despite becoming the first president to be convicted of a felony and after two assassination attempts against him.
The trade threat to Trump grew throughout the day. In his inaugural address, Trump noted that tariffs were his preferred tool in international economic diplomacy and would be vital to increasing US revenues, ignoring their potential to raise prices for American consumers.
“Instead of imposing taxes on our citizens to enrich other countries, we will impose tariffs and taxes on foreign countries to enrich our citizens,” he said.
Trump said the plan to impose global tariffs on all imports – a measure he promoted during his election campaign – is still 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 senior White House adviser on trade and manufacturing policy.
In a sign that the campaign against immigration remains a priority in domestic politics, Trump also signed a national emergency on the US-Mexico border and took steps to limit the birthright of citizenship of those born to illegal immigrants on US soil.
“This is a big one.” . . “We are the only country in the world that does this by birthright,” although dozens of other countries allow this right.
Trump's move will almost certainly be challenged in court on charges of violating the Fourteenth Amendment to the US Constitution.
The President also directed the Pentagon to formulate a plan to deploy troops on the US-Mexico border.
Trump also designated drug cartels as foreign terrorist organizations. Sending US special forces into Mexico to take them out “could happen.” “Strange things have happened,” he added.
Trump declined to say whether Immigration and Customs Enforcement would begin raids in major cities on Tuesday to detain illegal immigrants. “I don't want to say when, but it will happen, or it must happen, otherwise we won't have a country.”
Among his foreign policy pledges, Trump said the United States would regain control of the Panama Canal and “build the most powerful military the world has ever seen,” even as he promised to end the wars in Ukraine and the Middle East, saying it would be a formidable military force. “Peacemaker.”
