Intercam Casa de Bolsa ranked the five main points of Donald Trump’s inaugural speech after taking office for his second term as President of the United States.
Donald Trump’s Inaugural Speech
During his inauguration as the 47th President of the United States, Donald Trump unveiled a series of Executive Orders that he later signed.
Among them, Intercam Casa de Bolsa highlighted those concerning Mexico:
Declaring a national emergency on the southern border
In this sense, Trump delved into several proposals that will come with the declaration, among them: 1) eliminate the Catch & Release policy, 2) reestablish the Stay in Mexico program, i.e. that Mexico again adopts the figure of a safe third country, 3) deport all people with illegal status.
To classify Mexican cartels as terrorists (FTO Foreign Terrorist Organizations)
In this order, the President did not elaborate on the details of future actions and implications.
Declare a state of energy emergency
According to Trump, this declaration can be summarized in the following phrase: “Drill, baby drill”. Currently, the United States produces 13.2 million barrels of crude oil per day and 6.88 million barrels of liquefied natural gas equivalent. In addition, the president announced that he will seek to restore strategic crude oil reserves and export oil and gas to the world.
Eliminate federal subsidies for the purchase of electric vehicles
This measure seeks to reverse Biden’s proposal to make two-thirds of vehicles sold in the U.S. by 2032 electric and zero-emission. These proposals were unpopular in industrial states such as Michigan and hence the president thanked automotive employees for their support.
Establish the Foreign Revenue Service
Trump stated that he will protect American families and workers by imposing tariffs and taxes on foreign countries, rather than increasing taxes on citizens. He made no specific mention of Mexico. However, hours before his inauguration, it was leaked in the Wall Street Journal that Trump plans to conduct investigations within his administration. These investigations would address persistent trade deficits, unfair practices, currency manipulation, China‘s compliance with the 2020 trade agreement, and the review of Section 232 tariffs on steel and aluminum imposed in 2018.