During a campaign event at the Economic Club of New York, former President Donald Trump detailed his ambitious plans to reshape the U.S. economy if re-elected. Among the key promises made in his hour-long speech, Trump vowed to slash regulatory burdens, boost domestic energy production, and position the U.S. as the global leader in emerging industries, including cryptocurrencies.
“Instead of attacking industries of the future, we will embrace them, including making America the world capital for crypto and Bitcoin,” Trump declared, signaling his commitment to fostering a regulatory environment conducive to digital assets. He also hinted at his personal involvement in the sector through a forthcoming project, World Liberty Finance, where he would serve as the “chief crypto advocate.”
In addition to his crypto aspirations, Trump proposed a sweeping economic liberalization agenda. “I will launch a historic campaign to liberate our economy from crippling regulation,” he asserted, promising to “eliminate a minimum of tenfold regulations for every one new regulation” introduced. His plan includes issuing a national emergency declaration to escalate domestic energy production to support sectors like artificial intelligence and maintain competitiveness with China.
Trump emphasized the necessity of rapid approvals for new energy infrastructure, which he claimed would lead to immediate price reductions and reestablish the U.S. as a leader in global energy markets. “With these sweeping authorities, we will blast through every bureaucratic hurdle,” he stated.
The Government Efficiency Commission
Further adding to his economic overhaul, Trump announced his intention to create a government efficiency commission, adopting a suggestion from Elon Musk. Trump humorously noted Musk’s readiness to lead this commission despite his busy schedule as the head of companies like X (formerly Twitter) and Tesla. This commission aims to conduct thorough audits of federal spending and recommend drastic reforms to eliminate waste.
Musk, who has become increasingly aligned with Trump, reposted news of the proposed commission on X, expressing his willingness to serve: “I look forward to serving America if the opportunity arises,” Musk wrote. “No pay, no title, no recognition is needed.”
Source: X
This collaboration marks a significant turn in the relationship between Musk and Trump, who have previously had their differences. Now united, their partnership could significantly influence U.S. policy, particularly in areas where Musk’s businesses operate.
Despite potential conflicts of interest due to Musk’s extensive governmental ties, the proposal underscores a mutual interest in reshaping federal governance and regulatory frameworks to promote efficiency and innovation.
