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What we Learnt from Trump's Inauguration

Writer's picture: Chloe HuitsonChloe Huitson

Updated: Jan 24

Trump Tower Chicago, U.S.A
Trump Tower Chicago, U.S.A

On Monday, the world's eyes were on the U.S. as we watched the second inauguration of Donald Trump, the 47th President of America.


Below we take a look a five key points from Trump's inauguration speech which seemed only to add fuel to the fire when it comes to the question "What will Trump's presidency mean for trade?".


I will very simply put America First":


Throughout his inauguration speech, President Trump made it clear that he would be putting the American people above all else and, with him as President, create a “golden era”. 


President Trump claimed that “America will reclaim its rightful place as the greatest, most powerful, most respected nation on Earth, inspiring the awe and admiration of the entire world.” 


Little time spent discussing the rest of the world:


Maybe of little surprise due to heavy focus on America, but there was little focus on the rest of the world.  When Trump did discuss the world as a whole, it was with very little warmth. 

Our power will stop all wars and bring a new spirit of unity to a world that has been angry, violent and totally unpredictable”. 


Mexico was only mentioned in reference to illegal immigration and his plan to rename the Gulf of Mexico.  Similarly, China was only mentioned in reference to the Panama Canal and the Middle East in regard to the recently agreed cease-fire.  


However, there was no mention of Russia, Ukraine, Europe, Canada, Greenland or the UK.  The total omission of some of America’s closest allies was slightly surprising and left the door open for further speculation on the future of trade.  


Tariff talk continues:


Generally, Trump’s talk on tariffs has been one of the most eye-catching, reported and controversial plans that he discussed during his campaign trail.   

Though no definitive action has yet been taken on tariffs, they did feature during his inauguration: 

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

To help Trump in his pursuit to collect tariffs and duties, he stated that he would be establishing the External Revenue Service.   

“ For this purpose, we are establishing the External Revenue Service, to collect all tariffs, duties and revenues” 


The future of the Panama Canal:


The Panama Canal was another area that has featured during the campaign trail and also made its way into the inauguration speech.


"American ships are being severely overcharged and not treated fairly in any way, shape, or form. And that includes the United States Navy. And above all, China is operating the Panama Canal, and we didn't give it to China, we gave it to Panama. And we're taking it back".

However, following Trump's inauguration speech, the president of Panama, Jose Raul Mulino, was quick to respond on X by stating that the canal "is and will continue to be Panamian".


"Manufacturing nation once again":


Finally, one of the most famous line to come out of the inauguration was Trump's use of the line "drill, baby, drill".


Trump's proposal to start drilling again will, in his words, lead America into becoming a manufacturing nation once again.

Library of Congress Photography via UnSplash
Library of Congress Photography via UnSplash

"America will be a manufacturing nation once again, and we have something that no other manufacturing nation will ever have: the largest amount of oil and gas of any country on Earth, and we are going to use it".

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