Trump outlines US policies on new White House website

HOUSTON (ICIS)–President Donald Trump outlined his policies shortly after being inaugurated on Friday.

On the new whitehouse.gov website, Trump listed six issues his administration will tackle.

They cover energy, foreign policy, employment, military, law enforcement and trade agreements.

The US petrochemical industry has been optimistic that Trump’s administration will adopt policies that would encourage oil and natural gas production, increasing supplies of both fuel and feedstock.

Indeed, the website said, “For too long, we’ve been held back by burdensome regulations on our energy industry. President Trump is committed to eliminating harmful and unnecessary policies such as the Climate Action Plan and the Waters of the US rule.”

The administration said energy policy should begin by recognising the nation’s substantial energy reserves. It aims to take develop those reserves, especially those on federal lands that had been placed off limits.

Trump considers domestic energy production a security issue as well as an economic one. “President Trump is committed to achieving energy independence from the OPEC cartel and any nations hostile to our interests,” the website said.

Trump did stress the need to balance energy development with concerns about the environment.

“Protecting clean air and clean water, conserving our natural habitats, and preserving our natural reserves and resources will remain a high priority,” the website said. “President Trump will refocus the [Environmental Protection Agency] on its essential mission of protecting our air and water.”

Another section of the website, called “Bringing Back Jobs and Growth”, outlines Trump’s goal of creating 25m new jobs in the next decade and raising GDP growth to 4%/year.

The administration plans to lower taxes in every bracket, simplify the tax code and lower the nation’s corporate tax rate, which is among the highest in the world.

The administration will also impose a moratorium on new federal regulations and order the heads of agencies to find rules that should be repealed because they lower employment.

Trump’s plan also addresses trade deals. He wants to renegotiate existing ones and take a tough stance on new ones.

Specifically, Trump wants to renegotiate the North American Free Trade Agreement (NAFTA), which includes Canada and Mexico.

He discussed this under another issue, “Trade Deals Working For All Americans”.

“If our partners refuse a renegotiation that gives American workers a fair deal, then the president will give notice of the United States’ intent to withdraw from NAFTA,” the website said.

The US exports large amounts of fuel, natural gas and polyethylene (PE) to Mexico, so any renegotiation could threaten these trade flows.

In addition to renegotiating trade deals, Trump also wants to address violations of trade agreements. He will direct the US Commerce Secretary to identify any trade violations and do what it can to stop them.