President Donald Trump’s inauguration marked the beginning of a second term with promises of national revival under his “America First” agenda. The address highlighted his focus on border security, economic protectionism, and energy independence. Symbolic measures like renaming Denali back to Mount McKinley and renaming the Gulf of Mexico to the Gulf of America (which cracked up Hillary Clinton) set the tone for a combative, unilateral approach to governance, aiming to reassert American strength globally and domestically. 

Trump’s Early Executive Orders: Reshaping Policy Directions

President Trump wasted no time leveraging executive power to implement expected, sweeping changes across immigration, trade, and federal governance. Key directives included declaring a national emergency at the southern border and reinstating the "Remain in Mexico" policy. Military resources were reallocated to border enforcement, and birthright citizenship underwent redefinition, triggering legal challenges.

On trade, Trump ordered reviews of the U.S.-Mexico-Canada Agreement (USMCA) and proposed 25% tariffs on Canadian and Mexican imports. He also initiated plans for an “External Revenue Service” to centralize tariff collection and halted U.S. participation in the Global Tax Deal.

In federal governance, Trump launched the Department of Government Efficiency, led by Elon Musk, to identify spending cuts. Federal hiring freezes and reviews of civil service protections underscored his intent to consolidate executive power. Meanwhile, diversity, equity, and inclusion programs were dismantled, along with several Biden-era initiatives on energy and climate change.

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Oil Prices Fall on Trump's Requests to Lower Oil Prices, Despite Supply Constraints

WTI crude oil prices were down over 3%, marking their steepest weekly decline since November. The drop came after President Trump spoke at the Davos forum, where he announced a plan to pressure Saudi Arabia and OPEC to lower crude prices. He also expressed intentions to ramp up U.S. oil production. At the same time, Trump raised concerns about global economic growth and oil demand by threatening tariffs on China, Canada, and Mexico.

On the supply front, the EIA reported that U.S. crude inventories fell by 1 million barrels, marking their ninth consecutive weekly decline and dropping below the five-year seasonal average. Distillate fuel stocks saw a notable reduction, while gasoline inventories continued to increase.

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