Trump Has Promised These Major Economic Actions On ‘Day One’

Incoming President Donald Trump has promised to issue major executive orders on his first day that could affect household finances and the economy.

In interviews, speeches, and social media posts, President-elect Donald Trump promised at various times to take many actions on day one of his presidency. Although some major policy changes, such as tax cuts, could not be enacted without approval from Congress, Trump could use the power of the presidency to give orders to the executive branch of the government.

Here are some of the economically significant policies Trump said would be in place by the end of Inauguration Day Monday.

Deport Immigrants

Trump has promised to launch a program to deport immigrants en masse. It has been suggested that Trump could sign several immigration executive orders on the first day, and he has mentioned it was on his agenda during campaign rallies.

A broad deportation program could profoundly affect the economy. Homebuilders, for example, rely on immigrant labor for their workforces, and builders say removing them from the country would disrupt that vital industry and drive up the cost of housing.

Tariffs Against China, Mexico, and Canada

Tariffs have been a central and controversial part of Trump’s economic platform, and he has promised to impose some major ones on his very first day.

“On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders,” Trump posted on Truth Social, the social media platform he owns, in November.

He also said he would impose an additional 10% tariff on Chinese products if they did not crack down on fentanyl smuggling.

Mainstream economists say tariffs would raise consumer costs and stoke inflation. Numerous forecasters, including officials at the Federal Reserve, have assumed tariffs will drive up inflation to some extent in 2025, depending on the number of countries and products targeted.

Moving Toward a Strategic Bitcoin Reserve?

According to news reports, Trump is planning to sign an order establishing an advisory council on cryptocurrency. That could be a first step toward establishing a strategic Bitcoin stockpile, which he had promised to do last year when he spoke at a Bitcoin conference.