The incoming Trump administration previewed a number of Day One economic executive actions, officials said, are aimed at boosting domestic energy production and lowering prices.
As CNN has previously reported, Trump is expected to sign an executive order that will cut bureaucracy and regulations on energy production.
He will also sign an executive order that “specifically focuses on Alaska” and its “abundance of natural resources,” rolling back protections put in place during the Biden administration, an incoming White House official said.
Pressed for specifics on the Alaska moves, the official did not elaborate.
It will include an “end to the electric vehicle mandate” put in place on President Joe Biden’s watch — a signature Biden issue. The Biden policy isn’t an actual mandate, but instead aggressive tailpipe rules for passenger cars and trucks were finalized in March 2024. The Biden administration allowed plug-in hybrids — vehicles that combine gas engines and EV-like batteries — to play a much bigger role in the electric transition.
Trump will also sign a “national energy emergency,” the incoming official said.
“The rational for this national energy emergency is that high costs of energy are unnecessary, they are by design,” the official said, adding that the move will “unlock a variety of different authorities that will enable our nation to quickly build again, to produce more natural resources, to create jobs, to create prosperity, and to strengthen our nation’s national security.”
It remains unclear if Trump plans to trigger any of the authorities a national emergency would give him access to or if the action will be used more broadly as a messaging point to highlight the new administration’s focus on a cornerstone campaign issue.
Trump is also expected to sign a “presidential memorandum on inflation,” calling for an “all-of-government approach to bringing down costs,” per the official.
Meanwhile, Trump will take a more deliberative approach on his cornerstone policy agenda tools — the imposition of tariffs, according to a Trump adviser.
Trump is expected to sign a memorandum that directs his administration’s agencies to scrutinize trade relationships across the board, with a focus on trade deficits, unfair trading practices and potential currency manipulation.