President Donald Trump was sworn in on Monday as the 47th U.S. president.
Incoming White House officials told reporters that Trump would sign executive orders in his first days in office, and possibly at his rally Monday evening. The orders are expected to address economic issues like inflation and tariffs, reiterating remarks made by the President himself at his inauguration.
“Today I will sign a series of historic executive orders,” Trump stated in his inaugural speech. “With these actions, we will begin the complete restoration of America and the revolution of common sense. It’s all about common sense.”
U.S. President Donald Trump gives his inaugural address. Photo by Kenny Holston-Pool/Getty Images
The New York Times estimates that Trump has promised to sign close to 100 executive orders in the coming days.
The first economic executive order Trump addressed in his inaugural speech was related to inflation and energy.
Trump claimed that inflation was due to rising energy costs and government overspending. He stated that he would work to “rapidly bring down costs and prices” by signing an executive order declaring a national energy emergency so that the U.S. could produce and export more of its own oil and gas.
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“We will bring prices down, fill our strategic reserves up again, right to the top, and export American energy all over the world,” Trump said.
White House officials told ABC News reporters that the move would create jobs and reduce regulations around the energy industry.
The U.S. was the world’s largest exporter of motor gasoline in 2023, supplying more than 16% of total global exports, according to the U.S. Energy Information Administration.
No president has declared a “national energy emergency” before, according to E&E News, though President Jimmy Carter did declare regional energy emergencies, including one in Pennsylvania in 1978.
Trump is also expected to sign an executive order ending the Biden administration’s electric vehicle mandate, which gave more than $1 billion in incentives through tax credits for purchases of electric vehicles.
“We will revoke the electric vehicle mandate, saving our auto industry and keeping my sacred pledge to our great American autoworkers,” Trump said in his inaugural speech, adding, “We will build automobiles in America again at a rate that nobody could have dreamt possible just a few years ago.”
White House officials said that Trump expects to end the electric vehicle mandate through executive order “as soon as possible.”
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Another economic executive order Trump spoke about in his speech was the establishment of the External Revenue Service, to collect tariffs and taxes from foreign countries.
“Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens,” Trump stated.
Trump also said he would establish the Department of Government Efficiency, or DOGE, which is designed to reform government bureaucracy and reduce inefficiencies. He first announced the department in November.
This story originally appeared on Entrepreneur
