01-05-2025
Trump Declares ‘Golden Age' Amid Sweeping Policy Overhauls and Market Turmoil
Donald Trump, upon commencing his second term as the 47th President of the United States, proclaimed the onset of a 'golden age' for the nation. His inauguration speech outlined an ambitious agenda aimed at reshaping domestic and foreign policies, with immediate and far-reaching implications.
Central to Trump's address was a commitment to restoring national sovereignty and security. He announced the declaration of a national emergency at the southern border, emphasizing the cessation of illegal immigration. This move aligns with his broader immigration strategy, which includes the suspension of refugee admissions and the initiation of efforts to end birthright citizenship.
In a significant restructuring of the federal government, Trump introduced the Department of Government Efficiency , led by Elon Musk. This new department is tasked with streamlining government operations and reducing bureaucratic inefficiencies. Early reports indicate that D.O.G.E. has already identified potential savings amounting to $150 billion.
Trump's economic policies focus on revitalizing American industry and addressing trade imbalances. He announced the implementation of steep tariffs, particularly targeting imports from China, Mexico, and Canada. Additionally, he introduced the concept of an 'External Revenue Service' to collect tariffs and taxes from foreign entities, aiming to bolster domestic revenue streams.
Environmental regulations underwent immediate revisions, with Trump revoking the electric vehicle mandate and withdrawing from the Paris Climate Agreement. He emphasized a return to fossil fuel production, including the reinstatement of coal mining operations, positioning these actions as measures to protect American jobs and energy independence.
On social policy, Trump declared that the U.S. government would officially recognize only two genders: male and female. He also announced the dismantling of the Department of Education and the repeal of diversity and inclusion measures, advocating for a merit-based, colorblind society.
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Internationally, Trump signaled a shift in foreign policy by expressing intentions to reclaim the Panama Canal and by withdrawing from the World Health Organization. He also imposed sanctions on the International Criminal Court, reflecting a broader strategy of redefining U.S. engagement with global institutions.
Notably absent from Trump's speech was any mention of cryptocurrency or Bitcoin. This omission had immediate repercussions in the financial markets. Bitcoin's value dropped by 3.2%, and the $TRUMP memecoin experienced a 15% decline. The broader cryptocurrency market saw liquidations exceeding $1.2 billion, marking one of the most significant downturns in the sector's history.
Arabian Post – Crypto News Network
