*President Donald Trump, in his inauguration speech, vows to overhaul the US trade system among other several Executive Orders signed the first day in office, asserting that ‘instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens’

Gbenga Kayode | 绿帽献妻

Just within hours of taking oath of office at his second presidential inauguration in the US Capitol Rotunda Monday, January 20, 2025, in Washington, D.C., Donald Trump, 47th President of the US, immediately signed dozens of Executive Orders (EOs) to quickly begin enacting his agenda contained in this electioneering.

绿帽献妻 learnt President Trump’s immediate moves after inauguration Monday were part of his avowed “aggressive and protectionist trade agenda” that also targets China, Mexico, Canada, Europe, and possibly other economies across the world.

Yet, such carefree imposition of tariffs and taxes on imports threaten to disrupt the global economy, and deepen already fierce tensions with China and upend relations with the United States鈥� two huge neighbours, according to report.

US trade system ‘to protect American workers, families’: Trump

Earlier in his speech, President Trump had vowed to embrace trade wars, pledging high tariffs and taxes on other countries in a nationalistic approach to international diplomacy.

Trump asserted: “I will immediately begin the overhaul of our trade system to protect American workers and families.

鈥淚nstead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens.”

Following his election victory November 2024, Trump has taken aim at allies and adversaries alike, raising the prospect of fresh tariffs to push other countries towards tougher action on US concerns, agency report said.

Ahead of his second coming to the White House Monday, the US President vowed to impose 25 percent tariffs on Canadian and Mexican imports, and additional 10 percent on Chinese goods, if they did not do more about illegal immigration and the flow of fentanyl into the United States.

On the campaign trail last year, Trump also floated the idea of much steeper tariff rates on Chinese imports.

However, the US leader, in his inaugural address Monday, stopped short of unveiling new tariffs, which are applied on imported goods when a US buyer purchases them from abroad.

The President equally reiterated his plan to establish an 鈥淓xternal Revenue Service鈥� to collect tariffs, duties and revenues, alongside the establishment of a 鈥淒epartment of Government Efficiency鈥� aiming to cut Federal spending in the American country.

China: No one will win a trade war

It is recalled that while in office during his first term, Trump had launched an all-out trade war with China, imposing significant tariffs on hundreds of billions of Dollars on Chinese goods.

In response to his latest posts on resuming the same approach when he returned to the White House, China and Mexico, November 2024, also lashed out after Trump threatened to begin his Presidency with an immediate trade war against the three top US economic partners.

Then President-elect Trump, last year, made his threat in social media posts, announcing huge import tariffs against neighbours Canada and Mexico, and also rival China, if they don鈥檛 stop illegal immigration and drug smuggling into the United States.

China, nonetheless, retorted that 鈥渘o one will win a trade war,鈥� while Mexican President Claudia Sheinbaum warned that 鈥渇or every tariff, there will be a response in kind,鈥� report noted.

Similarly, a Canadian Government source reportedly said Prime Minister Justin Trudeau called Trump and had a 鈥減roductive鈥� discussion shortly after winning the US Presidential last year.

Trump signed several Executive Orders

Among President Trump’s first actions upon resumption of office in the White House Monday was the signing of several Executive Orders to quickly begin enacting his agenda.

Sine of the Executive Orders the President signed include:

• An order to temporarily halt the TikTok ban for 75 days
• An order that declares a national energy emergency
• An order to revoke about 80 of President Biden鈥檚 executive actions
• An order to withdraw the United States from the World Health Organisation
• An order to the direct the United States to withdraw from the Paris climate agreement, and
• An order to require Federal workers to return to in-person work

Other “express” Executive actions taken included the pardon extended to almost all defendants in the January 6, 2021, Capitol attack (about 1,500 people), declaring a national emergency at the Southwest border and an attempt to end birthright citizenship in the US, report said.

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