Key Takeaways as Trump Sworn In As 47th US President

On January 20, 2025, Donald Trump was inaugurated as the 47th President of the United States, marking his return to the White House after a four-year hiatus. The ceremony, held indoors at the U.S. Capitol due to inclement weather, set the stage for a series of significant policy announcements and executive actions that signal a transformative shift in the nation's direction.

Inaugural Address Highlights

In his inaugural speech, President Trump declared the onset of a "golden age" for America, emphasizing a vision of national rejuvenation and strength. He criticized previous administrations for what he termed as mismanagement and decline, vowing to reverse these trends. Central to his address was the promise to restore American prosperity, enhance security, and reassert the nation's global standing.

The Economic Impact of Donald Trump’s Presidency

 

Donald Trump’s presidency, which lasted from January 2017 to January 2021, had a significant impact on the U.S. economy through a series of policies and external factors. The economic landscape during his term was shaped by tax reforms, deregulation efforts, trade policies, and the unprecedented challenges posed by the COVID-19 pandemic. Below is a detailed analysis of these factors and their implications.

Trump’s Threatened Tariffs on China, Mexico, and Canada

Donald Trump has announced intentions to impose significant tariffs on goods imported from Mexico, Canada, and China as part of his strategy to address issues related to illegal immigration and drug trafficking. These tariffs are proposed to take effect immediately upon his inauguration.

Proposed Tariff Details

• Tariffs on Mexico and Canada: Trump plans to implement a 25% tariff on all products entering the United States from both Mexico and Canada. This move is framed as a response to what he perceives as failures by these countries to manage illegal immigration and drug smuggling effectively. He has stated that these tariffs will remain in place until both nations take substantial action against drug trafficking, particularly concerning fentanyl.

Business Career of Donald Trump

 

Donald Trump’s business career spans several decades and is characterized by a mix of successes, failures, and controversies. His journey in the business world began in the late 1960s and has evolved through various sectors, primarily focusing on real estate development, entertainment, and branding.

Early Career

Trump started his career at his father’s company, Trump Management, which specialized in middle-class rental housing in New York City. After graduating from the University of Pennsylvania’s Wharton School with a degree in economics in 1968, he took over the family business in 1971 and renamed it the Trump Organization. His early projects included managing rental properties and attempting to revitalize troubled developments like Swifton Village in Cincinnati.