After being "certified" by Congress, Trump swings a big stick both domestically and internationally: U.S. interest rates are too high, and military action to control the Panama Canal cannot be ruled out, economic power merges the U.S. and Canada

After being officially "certified" by Congress as the next President of the United States, Trump, who is about to take office in the White House, began to "point out the situation," addressing domestic inflation and oil and gas development, as well as overseas geopolitical situations and the annexation of foreign territories. He criticized the Federal Reserve for high interest rates while adopting a tough stance on global economic and trade issues.

In addition, Trump announced that UAE real estate development giant Damac Properties will invest at least $20 billion in the United States to build data centers. He stated that these large data centers are crucial for maintaining the United States' competitiveness in emerging technologies such as artificial intelligence.

Inflation Continues to Rampage at "Unprecedented Levels"

On Tuesday, January 7, Eastern Time, the day after Congress officially confirmed Trump's election as President of the United States, Trump held a press conference at Mar-a-Lago, stating that his team inherited an economy in a "difficult situation" from the Biden administration, and that "inflation continues to rampage. Interest rates are too high." Trump also mentioned that inflation in the United States is "at unprecedented levels."

Trump did not specify whether the interest rates he referred to were complaints about the Federal Reserve's policy rates or the rates set by the bond market.

Wall Street Journal recently mentioned that at a meeting held last weekend, several well-known economists, including former Federal Reserve Chairman Ben Bernanke, believed that Trump's plans to expand tariffs, cut taxes, and restrict immigration may not trigger inflation as early analyses predicted. They warned that any attempt by Trump to control the Federal Reserve would pose a real risk of reigniting price pressures, which is one of the reasons for Trump's election. In other words, the impact of Trump's policies on inflation is limited, and his attempts to control the Federal Reserve are the real threat.

Overturning Biden's Offshore Drilling Ban

On Monday, current President Biden announced an executive order permanently banning offshore oil and gas development in parts of the Atlantic and Pacific Oceans, covering 625 million acres (approximately 253 million hectares) of ocean area. The White House statement indicated that Biden believes the environmental and economic risks and negative impacts of drilling in these areas outweigh the value of fossil fuel resource development.

In his speech on Tuesday, Trump reiterated his commitment to attempt to overturn Biden's permanent ban on offshore oil and gas development. Trump stated that Biden's action to ban offshore drilling on Monday would not stand, saying, "I will immediately revoke it and execute it immediately."

Like during his campaign, Trump emphasized the need for the United States to ramp up oil and gas drilling, stating, "We will drill, baby, drill. We will drill in many other places, and energy costs will drop significantly."

Gulf of Mexico to be Renamed American Bay; Denmark to Face Tariffs if Greenland is Not Given

In his speech on Tuesday, Trump expressed an obsession with Greenland and the Panama Canal, stating that he would not commit to avoiding military confrontation over his attempts to control Greenland or the Panama Canal.

When asked whether he could assure other countries that he would not resort to economic or military coercion to achieve his goals, Trump replied, "I will not make that commitment," but he could say, "We need them to ensure economic security." Trump also stated that he would seek to expand the United States' influence in the Western Hemisphere, including plans to rename the "Gulf of Mexico" to "American Bay." Trump said, "We will rename the Gulf of Mexico to the American Gulf; it has a beautiful ring that covers a lot of territory. What a beautiful name, and it's very fitting."

Trump also once again wielded the "weapon" of tariffs, threatening to impose high tariffs and other economic measures on other countries. He stated that if Denmark does not hand over Greenland to the United States, he would "impose very high tariffs on Denmark."

Trump ruled out the possibility of using military force to acquire Canadian land but expressed his willingness to use "economic force" to unite Canada and the United States. In his speech, Trump appeared dissatisfied with the current border delineation between the U.S. and Canada, claiming, "You get rid of the artificially drawn boundaries and see what it looks like; it would also benefit national security."

Warning that the Russia-Ukraine conflict may further escalate, the Middle East may fall into chaos

Trump stated that the situation of the conflict between Russia and Ukraine is now "more complicated" and may further escalate. He criticized Biden's negotiation strategy with Ukraine and warned that the war "could escalate" and "could escalate to a worse level than it is now."

Trump also emphasized that if hostages held in Gaza are not released before he is sworn in on January 20, "the Middle East will fall into chaos." He said that not releasing the hostages is not a time-consuming issue for Hamas or anyone else, and the Middle East will be in chaos.

Trump further stated that the attack by Hamas on Israel on October 7 last year "should never have happened."

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