Trump declares national emergency to unlock new powers – Bloomberg By Investing.com

Investing.com- President-elect Donald Trump is preparing to declare a national emergency to boost the domestic energy industry and ease some climate change policies, Bloomberg reported Monday.

Trump’s emergency declaration is expected to take effect on day one of his second term, which officially begins later Monday, according to a Bloomberg report.

Trump is expected to outline new policies that would allow more oil and gas development on federal lands, while also scrapping new energy developments implemented by the outgoing Joe Biden administration on climate change issues, according to a Bloomberg report.

Speaking at a “Victory Lap” rally in Washington on Sunday, Trump reiterated his plan to boost domestic energy production. He also emphasized on his plan against illegal immigration.

Trump is expected to sign at least hundreds of executive orders on his first day in office. A Fox News Digital report said Trump could sign more than 200 executive orders on his first day in office — the most by any president in US history.

Earlier reports said Trump was planning to declare a national economic emergency to push his agenda of high trade tariffs on China and other major economies. The president-elect has taken a hawkish stance against China, threatening tariffs of at least 60% on all Chinese goods.

Still, recent reports suggest Trump may adopt a panicked approach on tariffs to gain more bargaining power and offset his regulatory influence.

Speaking at a rally on Sunday, the president-elect did not elaborate on his tariff plans.