Investing.com-- President-elect Donald Trump is preparing to declare a national emergency to grant him more power to boost the domestic energy industry and also scale back some climate change policies, Bloomberg reported on Monday.
Trump’s declaration of an emergency is expected to happen from day one of his second term, which will officially begin later on Monday, the Bloomberg report said.
Trump is expected to outline new policies allowing oil and gas development on more Federal land, while also scaling back curbs on new energy developments that were put in place by the outgoing Joe Biden Administration over climate change issues, the Bloomberg report said.
Trump reiterated his plans to boost domestic energy production when speaking at a “victory lap” rally at Washington on Sunday. He also emphasized on his plans to crack down on illegal immigration.
Trump is expected to sign at least hundreds of executive orders on day one of his administration. A Fox News Digital report said Trump could sign over 200 orders in his first day in office- the most by any President in U.S. history.
Earlier reports said Trump was planning to declare a national economic emergency to also help push his agenda of higher trade tariffs against China and other major economies. The President-elect had flagged a hawkish stance against China when campaigning, and threatened an at least 60% tariff on all Chinese imports.
Still, recent reports said Trump may adopt a staggered approach to tariffs, in order to gain more bargaining power and to offset their regulatory impact.
The President-elect made no mention of his tariff plans when speaking at the Sunday rally.