On January 20th, Donald Trump was sworn in as the 47th President of the United States at the inauguration ceremony in Washington, D.C., officially beginning his second term. In his speech, Trump expressed his determination to reshape national order and pledged to drive America into a "Golden Age" through multiple policy reforms.
Focus on Immigration and National Security
Trump's speech first focused on immigration and national security issues. He announced a national emergency at the southern border and promised to take strong measures to curb illegal immigration, including ending the "catch and release" policy and reinstating the "Remain in Mexico" policy. He also emphasized designating drug cartels as foreign terrorist organizations and mobilizing federal and local law enforcement to combat crime networks.
Trump stated: "As President, my primary duty is to defend America from threats, and we will do so in an unprecedented manner."
Declaring an Energy Emergency
In energy policy, Trump continued his "America First" stance. He declared an energy emergency in the U.S. and emphasized increased oil and gas extraction and exports, lowering oil prices, and rebuilding the national strategic reserve. Trump mentioned in his speech, "We will drill, baby, drill," underscoring his steadfast position on developing fossil fuels.
White House officials added that the energy emergency would unlock various policy tools for producing more natural resources but did not disclose specific details.
Revitalizing Manufacturing and the Automotive Industry
In terms of economic policy, Trump pledged to revitalize American manufacturing, specifically the automotive industry. He plans to end the Biden administration's electric vehicle policy and promised to make American car manufacturing thrive again. He also mentioned reforms related to electric vehicles, such as revoking consumer tax credits and imposing new tariffs on battery materials to protect domestic industries.
Trump stated: "We will once again produce cars in America at a speed previously unimaginable a few years ago."
Comprehensive Reform of the Trade System
In the trade sector, Trump announced the establishment of a "Foreign Tax Bureau" to levy tariffs on imported goods. He emphasized that America would no longer enrich other nations at the expense of its own interests, but rather benefit American citizens through tariffs.
He stated: "Significant funds will flow into our treasury from abroad, and the American dream will flourish in unprecedented ways."
Grand Diplomatic and Space Exploration Plans
Trump also proposed a series of grand diplomatic and exploration plans, including regaining control of the Panama Canal, renaming the Gulf of Mexico as the American Gulf, and planting the American flag on Mars. He stated: "America will pursue its manifest destiny to venture onto other planets." In his speech, he revealed that Elon Musk would lead a government efficiency reform plan to support NASA's space exploration initiatives.
Market and International Reactions
Trump's inaugural address quickly prompted reactions in the market. U.S. stock futures surged across the board, with Dow Jones futures rising by 0.47% and S&P 500 futures by 0.52%. European stock markets initially narrowed their gains due to tariff uncertainties but overall performed strongly. In the foreign exchange market, the dollar index dropped by 1.2%, while major currencies like the euro and pound surged, with the offshore yuan rising nearly 800 points against the dollar.
