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Day 1: Trump Moves to Save TikTok, Threatens Tariffs on Canada, Mexico, EU

President Donald Trump took office Jan. 20, 2025.
President Donald Trump took office Jan. 20, 2025. (Image courtesy the White House)

President Donald Trump got straight to work Monday, Jan. 20. Within hours of taking office, Trump made a number of major moves via executive order, including negotiating the return of TikTok (for now still a temporary measure), promising to impose tariffs on Canada and Mexico on Feb. 1, 2025 and rescinding Biden administration orders related to AI regulation and DEI initiatives.

Here’s a roundup of the actions taken on Trump’s first day in office that could impact the retail sector:

TikTok Safe for 75 Days While Trump Works Toward New Deal

President Trump signed an executive order to delay the enforcement of the TikTok sale-or-be-banned law for 75 days, saying that he plans to find a solution “that protects national security while avoiding an abrupt shutdown of a communications platform used by millions of Americans.”

Trump did not downplay the national security concerns that led to the original law, saying in his order that his administration would review security concerns and evaluate “the sufficiency of mitigation measures TikTok has taken to date.” Instead, Trump has proposed that the U.S. government become a half-owner in the business: “I would like the United States to have a 50% ownership position in a joint venture,” he said in a post on Truth Social.

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After shutting down its service in the U.S. on Saturday, Jan. 18, TikTok began to restore access on Sunday. “We thank President Trump for providing the necessary clarity and assurance to our service providers that they will face no penalties providing TikTok to over 170 million Americans,” TikTok said in a statement. “It’s a strong stand for the First Amendment and against arbitrary censorship. We will work with President Trump on a long-term solution that keeps TikTok in the United States.”

The leaders of TikTok’s competitors appear to be hedging their bets by cozying up to the new Commander in Chief, beginning by attending his inauguration on Monday. Among the tech leaders in attendance at the ceremony were Apple CEO Tim Cook, Alphabet CEO Sundar Pichai, Meta CEO Mark Zuckerberg, Amazon founder Jeff Bezos, Tesla CEO Elon Musk and TikTok CEO Shou Zi Chew.

The Self-Proclaimed ‘Tariff Man’ Sets his Sights on Canada, Mexico

While he did not immediately impose any of the tariffs he promised during his campaign, Trump told reporters on Monday that he plans to levy tariffs of approximately 25% on Mexico and Canada as early as Feb. 1, 2025, as a punishment for loose border control.

“We’re thinking in terms of 25% on Mexico and Canada because they’re allowing vast numbers of people — Canada’s a very bad abuser also — vast numbers of people to come in, and fentanyl to come in,” Trump said.

In separate comments, Trump also threatened tariffs on the EU if that region doesn’t “buy our oil and gas.” And while China was spared Trump’s ire for the moment (despite being a primary focus of tariff threats during his campaign), Trump has said that he would consider tariffs on that country as well if China stands in the way of “a good deal” for the TikTok situation.

Trump Signals Looser Regulation of AI

In addition to issuing dozens of executive orders, Trump also rescinded nearly 80 of the Biden administration’s orders and memoranda on Monday, including a key directive related to artificial intelligence.

Executive Order 14110, instituted by President Joe Biden in October 2023, required companies developing advanced AI models to share information with the U.S. government about the safety and security of their AI systems. The Republican Party has said the executive order was “dangerous” and hindered innovation, and the Trump administration’s rescinding of that order indicates it will take a more hands-off approach during its tenure.

Federal Government to Join Private-Sector Pullback on DEI Initiatives

Trump also issued an executive order eliminating diversity, equity and inclusion (DEI) programs in the federal government, while also rescinding a number of DEI-focused executive orders from the Biden administration.

“The previous administration has embedded deeply unpopular, inflationary, illegal and radical practices within every agency and office of the Federal Government,” reads a statement from the White House. “The injection of DEI into our institutions has corrupted them by replacing hard work, merit and equality with a divisive and dangerous preferential hierarchy.” 

The move follows similar DEI pullbacks across the private sector, including at a number of major retailers such as Walmart, Tractor Supply, Target and Lowe’s.

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