Donald Trump’s return to the White House has put more than $300bn of potential federal infrastructure funding at risk, US investors said, as they grappled with the scale of his move to unpick Joe Biden’s climate agenda.

Donald Trump imposed no new trade tariffs on the first day of his second term, as feared by markets, but the US president did lay out the official blueprint for an “America First Trade Policy”.

Good morning. Donald Trump had a busy first full day back in the Oval Office, as the US president kicked off massive shifts in the country’s economic infrastructure. Here are the key changes.

But with Trump preparing to rip up federal regulation and rethink the parameters of government action, the EU’s moves look altogether more tentative. “The engagement is not to deregulate, but to simplify,

Donald Trump will be sworn in today. He’ll take the presidential oath of office at noon in Washington. And he has a busy day ahead. In addition to the ceremony and all the black tie parties, trump plans to sign a lot of executive orders. His team has about 100 of them ready to go for his first few days in office.

Donald Trump has threatened to double tax rates for foreign nationals and companies in the US to hit back at “discriminatory” levies on American multinationals, in a move that threatens to trigger a global confrontation over tax regimes.

Musk, far from repudiating the president, got so excited while celebrating Trump’s return that he gave a crowd two straight-armed gestures that looked to some observers like fascist salutes (Musk described this suggestion as “dirty tricks”).

US President Donald Trump said the US would take back the Panama Canal, decrying China’s influence over the important waterway and the high rates being charged to American ships. In his inauguration speech on Monday,

If the US president takes a more flexible approach, tariffs may end up being used as a bargaining tool rather than end goal

Don Dempsey, head of policy and research at lobbying group Better Medicare Alliance — funded by insurance companies including UnitedHealth Group and Humana — was the leading candidate to be Trump’s top health official at the US Office of Management and Budget, said three people familiar with the matter.

Trump signed a slew of executive orders that initiated the US withdrawal from the Paris climate accords and WHO, ordered troops to the border with Mexico, pardoned about 1,500 January 6 rioters and restarted permitting for natural gas export terminals. He also rescinded 78 Biden-era directives.

Trump is expected to make early moves to help the US oil and gas industry as part of his promise to usher in a new era of American “energy dominance”. Among his day one executive orders, he has vowed to direct the federal government to slash red tape and “end all Biden restrictions on energy production”.