On January 20, Donald Trump was inaugurated as the 47th President of the United States, marking the declaration of the “America First Era 2.0.” This development has drawn mixed reactions of concern and hope both domestically and globally.

In his inaugural address, President Trump stated, “We will no longer be taken advantage of,” emphasizing, “In the Trump administration, I will put America first every single day. The golden age of America begins now.”

He reaffirmed his economic policy priorities, including deregulating energy, imposing tariffs on imports, reviving manufacturing, and strengthening the U.S. economy.

Following his inauguration, the White House immediately unveiled six priority policy agendas on its website. The listed agendas include:

Ending inflation and lowering the cost of living
Tax cuts for American workers
Strengthening border security
Restoring “peace through strength”
Achieving energy dominance
Making America’s cities safe again
Regarding inflation and the cost of living, the White House stated, “Under Trump’s first term, Americans earned more and witnessed record reductions in poverty. President Trump promises to revive the economy by reducing taxes and creating more jobs for workers.”

On tax cuts, the administration pledged to exempt tips and overtime pay from taxation and to make the historic tax reductions from Trump’s first term permanent.

In terms of energy dominance, the White House emphasized providing Americans with low-cost oil, gas, and electricity as a top priority, which will be achieved by promoting domestic energy production.

Addressing tariff policies that are of keen interest to trade partners like South Korea, President Trump reiterated his commitment to overhauling the trade system to protect American workers and families. He announced plans to establish an External Revenue Service (ERS) to collect tariffs, import taxes, and all foreign-source revenues, complementing the existing Internal Revenue Service (IRS).

The Wall Street Journal reported that President Trump plans to investigate trade deficits and unfair trade practices by partner countries. He has consistently advocated for imposing a universal tariff of 10–20% on all imports, with specific proposals to levy a 60% tariff on Chinese goods and 25% tariffs on imports from Mexico and Canada.

Meanwhile, optimism among Americans about Trump’s second term was evident. According to a CBS poll conducted on January 19, 52% of respondents believed the economy in 2025 would improve, compared to 31% who thought it would worsen.

When asked whether Trump’s policies would lower grocery prices, 39% of all respondents agreed, with support rising to 74% among Trump voters. Only 37% of all respondents anticipated rising grocery prices, compared to 6% among Trump supporters.

Regarding whether their economic situation would improve under Trump’s policies, 42% of all respondents and 77% of Trump supporters said it would. While 54% of voters opposed additional tariffs on imports, an overwhelming 82% of Trump supporters favored them.



<Hwandong Cho>