Sovereign Wealth Fund, Overloaded Month Dedications, USAID Destruction
February 03, 2025
Border Security and Tariffs
President Trump paused the implementation of additional tariffs on Mexico and Canada, originally slated to take effect on February 4, 2025, postponing them to March 4, 2025. This pause is conditional on the countries' continued cooperation in addressing illegal migration and drug trafficking. The tariffs would impose a 25% ad valorem rate of duty on Mexican goods and a 25% rate on most Canadian goods, with a 10% rate on Canadian energy products. Exceptions for goods in transit when the initial order was issued have been withdrawn. The administration will continue to assess the situation and reserves the right to reimpose the tariffs if the situation worsens.
The stated purpose of the tariffs is to encourage Mexico and Canada to take stronger action against drug trafficking organizations, human traffickers, and the flow of illicit drugs into the United States.
Sovereign Wealth Fund
President Trump directed the Secretaries of the Treasury and Commerce, in consultation with the Assistant to the President for Economic Policy, to develop a plan for establishing a U.S. sovereign wealth fund within 90 days. The fund's stated purpose is to improve long-term fiscal health, reduce the tax burden on families and businesses, enhance economic security for future generations, and bolster U.S. economic and strategic leadership globally. The plan will address funding mechanisms, investment strategies, fund structure, governance, and legal considerations.
Gender-Affirming Care
The White House celebrated the impact of an executive action restricting access to gender-affirming care for minors, claiming that hospitals are downsizing or eliminating their programs for such care. The statement emphasizes the administration's commitment to protecting children from what it terms "irreversible chemical and surgical mutilation."
USAID Spending
A White House statement criticized USAID spending, citing examples of alleged waste and abuse of taxpayer money on projects deemed "ridiculous" and "malicious." The statement promises an end to this alleged mismanagement under President Trump.
Career and Technical Education & American Heart Month
President Trump proclaimed February 2025 as Career and Technical Education Month, emphasizing his administration's commitment to workforce development and providing alternatives to higher education. He also proclaimed February 2025 as American Heart Month, urging Americans to focus on heart health and highlighting his administration's efforts to combat heart disease.