As Donald Trump prepares for a potential second term, his administration's policy blueprint—a 900-page guide developed by a think tank with significant influence—signals sweeping changes.
From artificial intelligence to fossil fuels, the proposed shifts could impact industries and consumers alike. Here's a closer look at what's on the horizon and what it might mean for you.
One of Trump’s first moves could involve scrapping Biden’s AI executive order. Instead of emphasizing ethical AI use and accessibility, the new focus would pivot to national security. Stricter controls on exporting AI technologies, particularly to China, could reshape the global tech landscape.
This isn’t the first time AI has been a battleground. Under Trump’s first term, the Department of Defense launched initiatives like Project Maven, integrating AI into military operations. A second term might amplify these efforts, but critics warn that prioritizing defense could stifle AI innovation in healthcare, education, and other sectors.
The Trump administration's love for tariffs isn’t fading. New policies could impose import duties of up to 45% on laptops, gaming consoles, and smartphones. The tech industry remembers the 2018 tariff wars that raised production costs and consumer prices—this could be round two.
While the tariffs aim to boost domestic manufacturing, they could also strain consumers’ budgets. For instance, the cost of an average laptop increased by 15% during the previous tariff standoff. Expect more of the same, and prepare your wallet.
Trump’s relationship with cryptocurrency has evolved. Early criticisms of Bitcoin as a “scam” appear to have softened, with his administration hinting at a “pro-crypto” agenda. This could include regulatory easing and even the creation of a national Bitcoin reserve—a first for the U.S.
Past administrations have wavered on crypto. Biden’s tenure tightened regulations, citing risks to financial stability. A Trump pivot could rejuvenate investor interest but might also spark concerns about market volatility.
Fossil fuels are back in focus. Trump’s second term could see increased drilling permits, expanded fracking, and a rollback of renewable energy incentives. Offshore wind projects—once heralded as the future of clean energy—might face funding cuts.
During his first term, the Trump administration withdrew from the Paris Agreement and repealed the Clean Power Plan, shifting federal support to coal and oil. A repeat of these strategies could stall the U.S. clean energy transition, despite falling costs for solar and wind technologies.
Federal funding cuts to public transit systems could lead to fare hikes, reduced services, and delayed infrastructure projects in cities like New York, Los Angeles, and Chicago. Transit systems, already struggling post-pandemic, may find it harder to recover.
For comparison, similar funding reductions in 2017 led to a 25% drop in federal grants for major transit projects, forcing cities to scale back essential services. The consequences for daily commuters could be severe.
Trump’s return promises rapid, polarizing changes. National security could drive AI decisions, while tariffs may hit consumers hard. Renewables face an uphill battle, and public transit could bear the brunt of funding cuts. Yet, for crypto enthusiasts and fossil fuel advocates, the future might look brighter.
For consumers, businesses, and policymakers, the coming years could redefine priorities and spark debates. Whether these policies help or hinder, one thing is clear: the road ahead will be anything but smooth. Buckle up.