The global community and the crypto industry are eagerly anticipating the first day of Trump’s presidency, but previewing his first 100 days could provide a more revealing picture.
According to Trump’s campaign manifesto, his government could significantly impact the relationships between the world and the United States. One of his most popular promises was his pledge to establish the United States as the center of crypto, and the industry is eager.
Behind the scenes, a team of senior aides and prospective White House officials are formulating their initial policy initiatives to fulfill the president-elect’s campaign promises. There is a fervent commitment within his camp to speedily and effectively implement the president-elect’s vision in comparison to his first term.
Trump’s top five priorities
About trade, Trump is committed to imposing 25% tariffs on all products imported from Mexico and Canada on his first day in office in January unless those countries satisfactorily stop the flow of illegal drugs such as fentanyl into the United States and illegal immigration.
Additionally, he has issued threats to impose supplementary tariffs on China until it implements measures to reduce fentanyl production.
However, Trump stated that he is unable to guarantee that the tariffs he has promised to impose on key U.S. foreign trade partners will not increase prices for American consumers.
On taxes and budgets, Trump made assurances regarding tax policy to both businesses and individuals. Among other things, tax reductions on tipped income, overtime pay, some Social Security taxes, tax reductions for first responders and the military, and Americans residing abroad, as well as deductions for auto loan interest.
In addition, the 2017 Tax Cuts and Jobs Act (TCJA) provisions that are about to expire will almost probably be extended, though there will likely be a long fight over some important details. Trump will put in place big new taxes, though they might not be as strong at first as he said he would be during the campaign.
On border and immigration, the incoming administration is set to implement strict border measures, strike down Biden-era policies, and initiate the detention and deportation of migrants on a large scale.
Immigration was a central focus of President-elect Donald Trump’s 2024 presidential campaign. However, unlike his initial campaign, which was primarily focused on the construction of a border wall, Trump has shifted his focus to interior enforcement and the removal of undocumented immigrants who are already in the United States.
On retribution and the deep state, Trump issued over 100 threats to investigate, prosecute, and imprison his perceived adversaries, including political opponents and private citizens, during the 2024 presidential campaign.
Trump was attacked during his campaign by entities dubbed as the deep state. These are people who perceive themselves to be above the law.
Trump’s opponents anticipate that the president-elect may implement a policy of “retribution,” as he phrased it.
On foreign policy, Trump indicated a return to his “America First” foreign policy, which was characterized by a decrease in international collaboration and an increase in isolationism.
However, this did not prevent Trump from claiming his ability to end Russia’s war against Ukraine within 24 hours of assuming office, bring peace to the Middle East, and exert dominance over China, one of the United States’ largest geopolitical rivals.
Crypto’s position in the Trump government
Crypto is a priority for the incoming government, just not the most urgent on the agenda. However, there are several things Trump has established in favor of the crypto industry.
He has verbally supported crypto during his campaign. He noted, “The United States will be the Crypto Capital of the Planet and Bitcoin superpower of the world.” This statement caused Bitcoin to take off on a parable trajectory.
He has also established a crypto-friendly administration. DJT appointed a pro-crypto Vice President-elect in JD Vance. He also nominated Paul Atkins as SEC chairman, a co-chairman of the Token Alliance at the Digital Chamber, a prominent blockchain trade association, and a crypto advocate that the crypto industry loves.
The price of Bitcoin surpassed $100,000 soon after Atkins’s nomination. DJT then congratulated the crypto community, saying, “Congratulations Bitcoiners!!! $100,000!!! You’re welcome!!!”
Donald Trump has demonstrated his influence on the crypto industry, and his first 100 days in office could still push it to new heights even if it may not be on his to-do list on day one.
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