Economists Uncut

ClearValue Tax – Trump’s First 48 Hours (Uncut) 01-22-2025

Trump’s First 48 Hours — DOGE, Tariffs, Bitcoin, ERS

In today’s video, I’m giving you a status update on President Trump’s initiatives. But of course, keep in mind that he’s only been in office for 48 hours, and we’re only reviewing financial items that we cover on this channel, which includes the Department of Government Efficiency, so DOGE, the External Revenue Service, so the ERS, the Trump tariffs, and cryptocurrencies. So let’s begin with DOGE.

 

So originally, DOGE was supposed to be an entity outside of the government. However, that has now changed. DOGE is now officially a part of the U.S. government.

 

So I’m going to show you this video clip, and then I’m going to explain what is going on. This is an order creating and implementing the Department of Governmental Efficiency, known as DOGE. Okay, that’s a big one.

 

Is Elon Musk going to get a West Wing office? No, he’s getting an office for about 20 people that we’re hiring to make sure that these get implemented. Okay, now I want to explain to you what just happens with DOGE. So President Barack Obama created the United States Digital Service, the USDC.

 

So the USDC is a technology unit within the Executive Office of the President. So Trump signed an executive order to rebrand the USDC into DOGE. So essentially, DOGE is replacing the USDC.

 

So DOGE is now an official government entity. And another DOGE update is that Vivek Ramaswamy has now decided to leave DOGE. So now it’s only going to be led by Elon Musk.

 

Now let’s move on to the External Revenue Service, the ERS. So on January 14th, President Trump said that he will create the External Revenue Service, the ERS, on January 20th. So here’s his post on Truth Social.

 

January 20th, 2025 will be the birthdate of the External Revenue Service. Okay, so on January 20th, did President Trump create the External Revenue Service? And the answer is no, he did not. Okay, now I want to tell you what’s going on.

 

Trump cannot create the ERS with an Executive Order. He needs Congressional approval because that’s required. So the U.S. Customs and Border Protection, so CBP, is the agency that currently collects tariffs.

 

So Trump, I mean, he could try to, you know, rebrand the CBP as the ERS. But the current situation is, or I guess the way he’s taking it, is that he’s relying on Republican support in the House and the Senate to pass legislation creating the ERS. Now, let’s talk about tariffs.

 

I made a video two months ago explaining tariffs and Trump’s proposals. So essentially, there are three categories of tariffs that Trump is saying that he wants to do. So the first one is the universal tariff.

 

So he’s saying that there could be a 10% to 20% tariff on all goods imported. So the second category is tariffs against our neighbors. So he’s saying that there could be a tariff of up to 25% on all Mexican and Canadian imports, so goods and services.

 

And the third one is tariffs against China. So these would be additional tariffs on top of the ones that are currently in place. Now, I want to give you an update on each one of these.

 

And we’re going to start with the universal tariff, the 10% on all imported goods. Are you still considering a universal tariff, Mr. President, on all countries? Yeah, but we’re not ready for that yet. We may put it, wrap it, because essentially all countries take advantage of the U.S. Okay, so as you saw, President Trump said that we may do universal tariffs.

 

But I’m going to stick to my prediction that he’s not going to go through with this one. I gave my reasons and details why in my previous video. Now, let me show you the 25% import tax, the 25% tariff on all Mexican and Canadian goods and services.

 

Well, we’re thinking in terms of 25% on Mexico and Canada because they’re allowing vast numbers of people, Canada’s a very bad abuser also, vast numbers of people to come in and fentanyl to come in. I think February 1st. I think we’ll do it February 1st.

 

25% on both, sir. On each. Okay, so there you have it.

 

That is the latest status on Mexico and Canada, up to 25% starting on February 1st. But the question is, I mean, you could tell me, but I’m going to stick to my prediction that he’s not going to go through with this one. He’s just using this basically as a threat, as a negotiating tactic.

 

But again, you can let me know what you think. Now, when it comes to China, the is coming from President Trump last night, so Tuesday night. He’s saying potentially a 10% tariff on all Chinese imports.

 

So I’m going to show you the video clip. I mean, I’ve been saying this is the one that’s most likely to happen. I don’t know if it’s going to be a 10% just universal blankets on all Chinese imports, or if it’s going to be more specific and more targeted, but you take a look.

 

We’re talking about a tariff of 10% on China based on the fact that they’re sending fentanyl to Mexico and Canada. How soon on those tariffs? Probably February 1st is the date we’re looking at. But I do want to mention this.

 

So President Trump did say that he had a phone call with President Xi Jinping of China, and the phone call went well. He said it was a good phone call. So I don’t know in terms of trade relations and how it’s going to develop, but we’ll see.

 

Now, regarding Bitcoin and cryptocurrencies, President Trump 100% delivered on his promises. So SEC Chair Gensler departed, and Trump created a new crypto task force on January 21st. So their priority right now is to develop clear regulations for crypto assets.

 

Okay, so those are the updates on the Trump initiatives. Please subscribe. I’ll keep you updated.

 

Thank you for the support, and I wish you a very nice day. Take care.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button