On his first day in office, President Donald J. Trump wasted no time in taking decisive action to fulfill his campaign promises, signaling an unwavering commitment to his agenda. Addressing a crowd of thousands of supporters, Trump signed a series of executive orders, including one that revoked nearly 80 executive actions from the Biden administration, mostly in the areas of energy and the environment. Among other key actions were a federal hiring freeze, a call for federal employees to return to their offices, and a suspension of new regulations providing needed relief to manufacturers facing undue regulatory burdens.
Immigration reform, a central theme of the president’s campaign, was also a focal point on Day 1. While tariffs, a key issue throughout his campaign, were not directly addressed in the initial executive actions, Trump vowed to levy them and underscored his intention to leverage tariffs in future international negotiations. The mere threat of tariffs in recent negotiations with Colombian President Gustavo Petro to accept Colombian deportees after he refused shows that Trump doesn’t have to actually levy tariffs to get what he wants. As an important market to international trade, partners don’t want to be shut out of the United States.
In a move designed to streamline government operations, Trump formally established the Department of Government Efficiency, which will be led by Tesla CEO and tech entrepreneur Elon Musk. This new department is charged with reducing government spending and cutting unnecessary regulations, establishing a more business-friendly environment. The administration is also prioritizing advancements in science and technology in the energy and defense sectors. Key initiatives include the promotion of traditional energy exploration, nuclear energy research, and increased private sector investment, such as the recently announced $500 billion Stargate joint venture involving SoftBank, OpenAI, and Oracle.
While executive orders and immigration took center stage during the president’s first days in office, manufacturers should not lose sight of the industry’s top priority, which is tax reform. With major tax cuts set to expire by the end of 2027, the administration is focused on advancing new tax legislation this year. Key reforms under consideration include extending 100% bonus depreciation and reinstating expensing for R&D costs. Estate tax limits, individual rates, and the 20% pass-through deduction are also on the table with many others. AMT members are encouraged to engage with policymakers to ensure their voices are heard and that provisions vital to their businesses are considered.
Prepare for Trump 2.0 and the Future at MFG
Trump is committed to a fast-paced and action-oriented first 100 days. Stay updated on the progress of these initiatives and what’s to come by joining policy and communication experts Omar Nashashibi, founder of Inside Beltway, and Caitlin Sickles, senior principal at Bracewell LLP, at MFG 2025 on Thursday, Feb. 20, in San Antonio, Texas.
Other sessions at MFG 2025 will explore issues shaping the manufacturing industry today. Senior forecaster Connor Lokar of ITR Economics will present “Align Resources for the Rise Ahead,” an economic outlook that will outline how attendees can properly allocate scarce resources for the immediate future and enact nimble business strategies to succeed. From the automotive supply chain outlook to cybersecurity sessions to keynotes on AI’s impact on manufacturing, The MFG Meeting will provide attendees with can’t-miss programming to prepare for 2025 and beyond. Join the experts, leaders, and visionaries driving manufacturing growth to connect, share, and learn.
To learn more and register, visit MFGmeeting.com.
