Yesterday, the 47th president of the United States, Donald Trump, took an oath and announced his political plan. Among the first legal acts of the fresh president are the announcement of a state of emergency on the border, sending troops and ending the law of the land. But what does this mean for the US economy and the world?
New Trade Policy
According to the “Wall Street Journal”, Trump signed a “wide memorandum” on Monday, ordering agencies to prepare an assessment of trade relations with China, Mexico and Canada. This means that the fresh president of the United States wants to re-evaluate his trade relations with these countries, but does not intend to impose fresh duties – at least not immediately. Trump threatened to impose 25% of the tariffs on American neighbours and 10% on China if these countries did not halt drug trafficking, among others.
Migration and Security
Among the first legal acts signed by Trump are 10 migration regulations. 1 of these is the announcement of a state of emergency at the confederate border, the suspension of the right to apply for asylum, the restoration of the policy of returning immigrants illegally crossing the border to Mexico and the termination or limitation of land law, i.e. the acquisition of citizenship with birth in the US. This means that the fresh president of the United States wants to increase control of borders and limit illegal immigration.
Energy and the Environment
Trump besides announced a "national energy emergency" to circumvent the rules on oil and another natural materials. This means that the fresh U.S. president wants to increase oil and another natural materials, which could have an impact on the environment.
Other Decisions
Among another decisions of the fresh U.S. president are the renaming of the Gulf of Mexico to the U.S. Gulf, the restoration of Mount McKinley's name in honor of 25th U.S. president William McKinley, the appointment of Elon Musk DOGE (Ministry of State Efficiency), whose task will be to present plans for the "radical restructuring" of national bureaucracy and cuts in spending.
What does this mean for Poland?
These decisions of the fresh U.S. president may affect the Polish economy. Poland is an crucial trading partner of the USA and changes in trade policy can affect our exports. Furthermore, Poland is besides a country that is curious in participating in the Nord Stream 2 project, which may be a problem in relations with the US.
According to GUS data, in 2020 exports from Poland to the US amounted to 6.3 billion dollars, and imports from the US amounted to 3.4 billion dollars. Poland is besides 1 of the largest customers of American natural gas in Europe.
Conclusion
The fresh US President, Donald Trump, began his word with the announcement of fresh rules and decisions that could affect the US and the planet economy. Among them are the announcement of a state of emergency at the border, sending troops, changing trade and energy policy, and setting up the Elon Muska DOGE commission. These decisions may affect the Polish economy, especially in the area of trade and energy.
Continued here:
New President, fresh Rules: What will the Trump Administration bring to the economy?
