"Will tariff and tax foreign countries," Trump announces establishment of the External Revenue Service

Trump vowed to "overhaul" the trade system "to protect American workers and families."

"I will immediately begin the overhaul of our trade system to protect American workers and families, instead of taxing our citizens we will tariff and tax foreign countries to enrich our citizens. For this purpose, we are establishing the External Revenue Service to collect all tariffs, duties and revenues," Trump said at his inaugural address on Monday.

Trump added that this will bring in "massive amounts of money" to the country's treasury "coming from foreign sources."

Trump emphasised that he will "bring law and order back" to US and announced that the US will officially recognise only two genders, male and female.

"We are going to bring law and order back to our cities. As of today, it will henceforth be the official policy of the United States government that there are only two genders, male and female. This week, I will also end the government policy of trying to socially engineer race and gender into every aspect of public and private light. We will forge a society that is colourblind and merit-based," Trump said.

Listing his executive orders, Trump also announced reinstating any service member who was unjustly expelled from the US military for objecting to the COVID vaccine.

"I will reinstate any service members who were unjustly expelled from our military for objecting to the COVID vaccine mandate with full back pay, and I will sign an order to stop our warriors from being subjected to radical political theories and social experiments while on duty...Our armed forces will be freed to focus on their sole mission, defeating America's enemies," Trump said.

Trump also stated that he will declare a "national energy emergency" to help to bring down prices."We will drill, baby, drill," Trump said during his inaugural address.

"The inflation crisis is caused by over spending and massive and escalating energy prices that is why I also declare a national energy emergency. America will be a manufacturing nation again and we will have something that no other manufacturing nation will ever have, the largest amount of oil and gas that any country on earth has and we are going to use it," Trump said.

Donald Trump was sworn in as the 47th president of the United States during the 60th Presidential Inauguration at the US Capitol in Washington, DC. US Chief Justice John Roberts administered the oath to Trump. (ANI)