Trump’s Executive Orders Set to Unleash US Economy

“The golden age of America begins right now,” President Donald Trump declared at the beginning of his inaugural address Monday. Keeping with that spirit, the new president unleashed a flurry of executive orders regarding the U.S. economy at the start of his second term.

On Day One of his second term, Trump ended federal government cooperation with the Organization for Economic Cooperation and Development global tax deal. The deal had attempted to lock American companies into paying a minimum effective tax rate of 15% on their profits. The Trump administration pointed out that the deal “not only allows extraterritorial jurisdiction over American income, but also limits our nation’s ability to enact tax policies that serve the interests of American businesses and workers.” 

In his “America First Trade Policy Order,” Trump outlined his plan for navigating the eclectic economic relationships the United States has with countries around the world. In the executive order, he directed the secretaries of Treasury and Commerce and the office of U.S. Trade Representative to “investigate the causes of our country’s large and persistent annual trade deficits in goods, as well as the economic and national security implications and risks resulting from such deficits, and recommend appropriate measures, such as a global supplemental tariff or other policies, to remedy such deficits.”

He also instructed members of the Cabinet to examine the possibility of creating an External Revenue Service to collect tariffs and duties.

As he promised in his inaugural address, the new president also declared a national energy emergency on Monday. The executive order seeks to speed up the completion of energy projects through emergency measures. The order read in part that “agencies shall identify and use all lawful emergency or other authorities available to them to facilitate the supply, refining, and transportation of energy in and through the West Coast of the United States, Northeast of the United States, and Alaska.”

Trump told the assembled crowd at the Capitol for his swearing-in that the United States would “drill, baby, drill.”

Trump also signed an executive order withdrawing all areas of the outer continental shelf from new or renewed offshore wind leasing agreements. The order does not affect “rights under existing leases in the withdrawn areas.” The president had previously argued that offshore wind turbines were “driving the whales crazy.” The installation of some kinds of wind farms can harm whales, according to Hal Whitehead, a professor of biology at Dalhousie University.

Wind turbines have also been linked to bird redistribution. Trump also ordered “a comprehensive assessment and review of federal wind leasing and permitting practices.” The 47th president signed a companion order as well to explore drilling options on the outer continental shelf, and he withdrew from the Paris Agreement on climate change. It was discussed during the first Trump administration that the Obama-era federal regulations needed to meet the climate accord would cause a total income loss of more than $20,000 for a family of four by the year 2035.

The president on Monday also implemented a regulatory freeze, ordering all executive departments and agencies to not propose or issue new regulations until they are reviewed by the new presidential administration. Trump empowered the director of the Office of Management and Budget to carry out the directive. He also ordered emergency price relief for Americans wherein the administration will attempt to ease the regulatory burden on Americans, including in regard to climate policies.

Republican members of Congress expressed optimism about the future of the United States that Trump is presiding over.  

In a statement to The Daily Signal, Sen. Steve Daines, D-Mont., said, “President Trump is wasting no time getting to work for the American people. I look forward to seeing the Day One actions he takes to unleash American energy, support mining jobs, and bring energy prices down for American families.” 

Rep. Wesley Hunt, R-Texas, emphasized in his statement to The Daily Signal that this would mean lower energy prices for the American people. “For far too long, Americans have suffered under the crushing weight of [former President Joe] Biden’s disastrous energy policies and ‘Green New Scam,’” he said.

“President Trump’s bold declaration of a national energy emergency marks a turning point. No longer will we hand our energy future over to rogue nations and the climate cartel. It should be the official energy policy of the United States to put American families first, and that starts by bringing down the price of energy,” Hunt said. 

Sen. Tommy Tuberville, R-Ala., on Monday praised the future use of tariffs to help restore American manufacturing.

“President Trump created a booming economy once, and he will do it again, starting today. For too long, unfair trade policies have put American businesses last while other countries profit. President Trump is a master negotiator. As in his first term, he will use tariffs as a tool to force other countries’ hands, as well as to bring jobs and manufacturing back to the U.S.,” Tuberville said.

“He will also unleash America’s energy production and ‘drill, baby, drill.’ I look forward to working with President Trump to boost the economy and create more jobs for Americans everywhere—including in Alabama,” he said.  

Tuberville’s fellow Alabama Republican senator, Katie Britt, expressed hope that the new president would implement pro-family policies.

“Promises made, promises kept. President Donald Trump is hitting the ground running. [Monday], he will sign numerous executive orders to make America safer, stronger, and more prosperous. He is prioritizing hardworking Americans—from farmers and manufacturers to small businesses and entrepreneurs—while protecting our families from unfair trade practices,” Britt said.

“The Trump administration is ushering in a new era, in which Americans come first again, where our national and economic security and American workers are prioritized. I’m excited to work with President Trump in instituting the pro-family, commonsense agenda the American people demanded on November 5,” Britt told The Daily Signal in a statement.

Trump’s executive orders represent a stark contrast to the policies of his predecessor. “From this moment on, America’s decline is over,” Trump concluded in his inaugural remarks.