PRESIDENT Donald Trump has outlined his agenda on a number of key issues following his inauguration in Washington D.C. today (21 January), including the announcement of several key moves that may have impacts on international shipping.
In his inaugural speech, held inside the Capitol Rotunda due to cold weather, the 47th President of the United States reiterated his stance on the Panama Canal, proclaiming that the US will “take it back”.
“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,” President Trump said during his inaugural speech.
President Trump had previously warned that the US may demand to repossess the canal if a set of conditions aren’t followed, criticising the canal fees and calling it a “complete rip-off”.
The President was quick to exercise his presidential powers, signing a number of executive orders in front of cameras and an audience, including an order to withdraw the United States from the Paris Climate Treaty.
Further, the President pledged to end the “green new deal” and revoke the “electric vehicle mandate”, which he said will save the US auto industry and keep his pledge to American auto workers.
The US Environmental Protection Agency rolled out new tailpipe emission rules in March last year, setting the target for 35% to 56% of all new car sales to be electric vehicles by 2032.
In oil and gas, President Trump took the opportunity in his inauguration address to outline his intent to declare a national energy emergency, adding “We will drill, baby, drill”.
President Trump had also previously said he would move quickly to revoke an offshore oil and gas drilling ban announced by former President Joe Biden, which saw the withdrawal of 625 million acres (253 million hectares) of ocean from new offshore oil and gas development.
On the topic of tariffs, the President mentioned he expected to impose 25% tariffs on Canada and Mexico, but did not mention any further details or plans for tariffs on other countries.
Further, the President signed an executive order that the Gulf of Mexico be renamed to Gulf of America, while Alaska’s Mt Denali has been restored to its previous name of Mt McKinley, after the US 25th President William McKinley.
“The Gulf is a vital region for the multi-billion-dollar U.S. maritime industry, providing some of the largest and most impressive ports in the world,” the Executive Order’s text reads.
“The Gulf will continue to play a pivotal role in shaping America’s future and the global economy, and in recognition of this flourishing economic resource and its critical importance to our Nation’s economy and its people, I am directing that it officially be renamed the Gulf of America.”
President Trump signposted that the United States will “one again consider itself a growing nation, one that increases our wealth, expands our territory, builds our cities, raises our expectations, and carries our flag into new and beautiful horizons”.
