US President Donald Trump vows to "take back" Panama Canal in inauguration speech

In his first public appearance as the freshly-declared President of the United States, Donald Trump has reiterated several of his sweeping campaign claims and promises, including seizing control of the Panama Canal, as well as establish an "external revenue service" which will ostensibly be responsible for collecting profits from tariffs his administration intends to impose. Donald Trump also reiterated his promise to refill the US' Strategic Oil Reserve, a commodity stockpile that President Trump famously dipped into during his first term in a bid to shore up a massive funding shortfall in the US government budget caused by lopsided tax cuts which crimped federal funding revenues.

Key highlights

Trump directs US agencies to take emergency measures to reduce the cost of living.

Trump: I will sign a series of executive orders today.

Trump: I will direct the cabinet to defeat record inflation.

Trump: I will also declare a national energy emergency today.

Trump: I will fill strategic reserves again and export American energy all over the world.

Trump: I will revoke the EV mandate.

Trump: I will begin an overhaul of trade system.

Trump: I will tariff and tax foreign countries to enrich our citizens.

Trump: We will establish an external revenue service.

Trump: We will establish a department of government efficiency.

Trump will withdraw from the Paris climate accord

Trump: We will take back Panama canal.