The incoming Trump administration has outlined a series of Day One economic executive actions aimed at bolstering domestic energy production and reducing prices. One of the key initiatives is the signing of an executive order to streamline bureaucracy and regulations in the energy sector.
Another executive order will have a specific focus on Alaska and its abundant natural resources, with plans to roll back protections implemented during the previous administration. While details on the Alaska-related actions were not provided, the move is expected to include the end of the electric vehicle mandate that was a significant policy under President Biden.
In addition, Trump is set to declare a 'national energy emergency,' citing high energy costs as unnecessary and designed. This declaration is intended to unlock various authorities to facilitate increased resource production, job creation, economic growth, and national security enhancement.
It remains uncertain whether Trump will activate the emergency authorities or if the declaration will primarily serve as a symbolic gesture to underscore the administration's commitment to addressing energy-related issues.
Furthermore, a presidential memorandum on inflation is anticipated, calling for a comprehensive government approach to lowering costs across sectors. Trump's approach to tariffs, a key aspect of his policy agenda, will involve a thorough review of trade relationships to address trade deficits, unfair practices, and potential currency manipulation.
