Newly inaugurated United States President Donald Trump has declared “national energy emergency” in his first minutes as president to help bring down prices, one of his key campaign promises.
“We will drill, baby, drill,” he said during his inaugural address on Monday.
Trump claimed in the speech that “the inflation crisis was caused by massive overspending and escalating energy prices.”
The new president also said he is going to direct his cabinet to use “the vast powers at their disposal” to bring down the cost of goods.
Trump also vowed to “immediately begin the overhaul of our trade system to protect American workers and families” as the 47th president of the United States.
“We will tariff and tax foreign countries to enrich our citizens,” Trump said during his inaugural address. “For this purpose, we are establishing the External Revenue Service to collect all tariffs, duties and revenues.”
He added that this will bring in “massive amounts of money” to the country’s treasury “coming from foreign sources.”
