Flood of Executive Orders After Inauguration... Three Times More Than Biden
Summary
- It was reported that President Donald Trump signed 137 executive orders at a rapid pace after his inauguration.
- It was stated that the stock market was sluggish due to President Trump's high tariff policy.
- The Biden administration saw a rise in the stock market initially due to expectations for vaccine development and economic recovery.
US Stock Market Sluggish Due to Tariffs
Donald Trump, the President of the United States, signed a total of 137 executive orders by the 24th after his inauguration. According to the Wall Street Journal on the 26th (local time), this is more than three times the number during former President Joe Biden's first 100 days (42 orders) and Trump's first three months of his first term (33 orders). He signed an average of 1.4 executive orders per day. President Trump has rapidly implemented the so-called 'America First' policy, including high tariffs, at an unprecedented speed.
The stock market performance in Trump's second term was sluggish. The S&P 500 index fell by 8.5%, and the Nasdaq index dropped by 12.5%. The market turmoil was due to the tariff policy. During the Biden administration, the S&P 500 index surged by 8.6% in the first 100 days due to expectations for COVID-19 vaccine development and economic recovery. Unlike the previous administration, President Trump is also accelerating the reduction of the federal government. According to the Trump administration's policy, about 75,000 federal government employees have retired so far. Illegal immigration has dropped to its lowest level in 60 years. According to the U.S. Customs and Border Protection, the number of illegal immigrants arrested at the U.S. southwest border was only 36,785 by March.
Reporter Han Gyeongje hankyung@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
