Trump II lifts off

Donald Trump was inaugurated as the 47th President of the United States yesterday at noon. The speech he delivered after taking the oath of office was all about “America First”. As announced, President Trump signed a whole series of executive orders on his first day in office. This indicates that the takeover of government was much better prepared than for Trump-I in 2017. From an economic point of view, the following priorities have been set:

The golden age of US manufacturing...

Under his leadership, the US is to become a “manufacturing nation” once more. This draws on the themes of his first term in office and corresponds to his long-held view that a new growth miracle must be built on a strong industrial base. To this end, he says, the US can build on something that no other industrialized country in the world has: the largest reserves of oil and gas worldwide. And these reserves will be used. The motto is “Drill, baby, drill”.

To this end, Trump signed executive orders declaring a national energy emergency, facilitating oil drilling on federally owned land, supporting oil and gas production in Alaska, and lifting restrictions on liquefied natural gas exports introduced by Biden. At the same time, he picked apart key points of Biden's “Green Deal”. He has canceled the targets for the introduction of electric vehicles. He wants to end tax breaks for e-cars and subsidies for the construction of charging stations. New wind power projects will no longer be approved. At the same time, he announced the US withdrawal from the 2015 Paris climate agreement.

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