Trump detailed comprehensive reforms on his first day in office and afterwards.
1. No plans to replace the Federal Reserve Chairman.
In a transcript of an interview released on Sunday, Trump responded to questions regarding Powell's refusal to resign upon request. Although Powell was appointed by Trump, during his first term, Trump attempted to have him removed due to multiple interest rate hikes by the Federal Reserve.
Trump stated that he has no plans to replace Federal Reserve Chairman Jerome Powell after returning to the White House, saying, 'I don’t think so.'
Trump said, 'I think if I asked him to resign, he would resign, but if I just asked him, he might not resign.'
Powell clearly stated in the days following the election that he was prepared to defend the Federal Reserve against political pressure. He told reporters that even if Trump asked him to resign, he would not step down and insisted that the new president had no authority to fire him or other senior Federal Reserve leaders.
Trump had previously stated that he believes he should have a say in monetary policy and interest rate settings, saying, 'I don’t think I should have the authority to give orders, but I believe I have the right to express my opinion on whether interest rates should be raised or lowered.'
Trump also mocked the role of the Federal Reserve Chairman as 'the best job in government,' saying, 'You go to the office once a month and say, ‘Let’s see, let’s flip a coin to decide.’'
Powell himself stated that he does not believe the incoming new administration would have a tense relationship with him.
2. Trump will pardon the defendants of the Capitol riots.
Trump stated that he will exercise his power to pardon those involved in the January 6, 2021, Capitol attack on his 'first day' in the White House.
Trump stated, 'I will act very quickly to review all situations. We will examine them on a case-by-case basis.'
Trump's comments came after current President Joe Biden decided to pardon his son Hunter Biden. Biden's decision reversed his previous stance of not using executive power to assist his son.
Trump said on NBC, 'Things will change. I think things will change. I don’t want to go on air like Joe Biden and say I would never pardon my son. Under no circumstances would I pardon him. I watched him say that, but I always knew he would eventually pardon him, so things will indeed change. But I don’t think there will be any changes.'
3. Tariff issues.
Trump stated that he will fulfill his campaign promise to impose tariffs on imported goods from America’s largest trading partners. At a notable moment, when the host asked if he could 'guarantee that American families would not pay more as a result,' Trump acknowledged the uncertainty.
Trump said, 'I cannot guarantee anything; I can’t even guarantee tomorrow.'
4. Immigration issues.
Immigration issues are one of the core topics of Trump’s campaign, and he has been unequivocal about implementing mass deportations for those residing illegally.
Trump stated that the first to be deported would be those with criminal records. When asked if he would broaden the scope, Trump added, 'Well, I think you have to do that, it’s difficult—it's a very tough decision. But you have to adhere to the rules, regulations, and laws. They are entering illegally.'
He admitted that it is possible some American citizens could be caught up in deportation actions due to living with family members who are in the country illegally, or may choose to leave together.
When asked about families with mixed immigration status (some members legal, some illegal), Trump said, 'I don’t want to separate families, so the only way not to separate families is to keep them together; you have to send them all back.'
He stated that the high costs and complex logistics of mass deportations would not deter him.
'Dreamers' may be an exception—these are immigrants who were brought to the U.S. illegally as children and have lived here for many years. Trump stated he is open to a legislative solution that would allow them to stay in the U.S.
He said, 'I will work with the Democrats to come up with a plan; we need to find a solution for them.' Trump praised those 'Dreamers' who have found good jobs, started businesses, and become successful residents.
Trump also stated plans to end birthright citizenship, a right protected by the 14th Amendment of the Constitution, which grants citizenship to anyone born in the U.S. regardless of their parents' status. When asked about potential legal challenges to unilaterally abolishing this right, Trump said he would consider amending the Constitution.
5. Russia and Ukraine.
After the Friday interview, Trump flew to Paris to attend the reopening ceremony of Notre-Dame Cathedral, which was damaged by fire.
Upon arrival, he held private meetings with French President Emmanuel Macron and Ukrainian President Volodymyr Zelensky. Zelensky posted on social media that the three discussed how to achieve a 'just peace' in the war between Ukraine and Russia. According to officials from Trump’s transition team, Zelensky was involved in the last approximately 10 minutes of the meeting.
In an interview with a news program, Trump stated that he is actively trying to end the war, 'if I can do it,' adding that Ukraine 'may' not expect as much military aid from the U.S. when he is back in power.
In addition, Trump did not commit to maintaining the U.S. position in NATO unless 'they pay their bills.'
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