The road ahead

How the new administration will impact your business

February 6, 2025

President Donald J. Trump was sworn into office on January 20, 2025, for the second time. With a Republican-controlled Congress, President Trump has momentum to push through key aspects of his policy agenda, from tax policy reform and a move toward deregulation, though narrow majorities in Congress may make it harder for him to make sweeping bold reforms. Either way, change is coming, and companies should be prepared. 

What’s coming first? On his first day in office, President Trump signed executive orders (EOs) aimed at immigration and energy, as well as a freeze on new federal regulations. While he did not immediately announce new tariffs, he issued a warning to Canada, Mexico and China that they’d face tariffs unless they took measures to stem illegal immigration and the flow of fentanyl. On February 1, under the International Emergency Economic Powers Act, the president announced tariffs of 25% on imports from Canada and Mexico and an additional 10% tariff on imports from China. He also announced a 10% tariff on energy products from Canada. Just a few days later, the president postponed the tariffs on Canada and Mexico for 30 days, and China announced retaliatory actions.

Executives will want to sort through these first moves, recognizing the fluid nature of the tariffs situation and how rapidly things are changing, to get a sense of what is coming next. Learn more about how the new administration is impacting business and how you can prepare. Check back for updates on what to expect from the new administration.

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“We can expect a lot of change with the new administration, and that means both risk and opportunity. The best thing to do is to prepare, prepare, prepare. Be proactive and agile and think about who across your company you might need to work with to take advantage of what’s coming.”

Kathryn Kaminsky, Chief Commercial Officer, PwC

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“We have the luxury of knowing that, in the second half of 2025, a significant piece of tax legislation will be written. This is a unique opportunity to prepare for something that we know is coming."

Rohit Kumar, National Tax Office Co-Leader, PwC

Learn how you can prepare for the Trump administration’s tax policies.

"The trade policy of the Trump administration emphasizes widespread tariff increases that are expected to reshape US trade relationships. Although ambitious, this approach may cause significant disruptions for US multinationals that import goods into the country and those exporting products due to possible retaliatory tariffs." 

Chris Desmond, Principal, Customs and International Trade, PwC

Learn how you can prepare for the Trump administration’s trade policies and tariff plans.

“The incoming administration is coming in with a slated goal of eliminating burdensome regulation. Business leaders should expect the deregulatory agenda to span far and wide.”

Roz Brooks, US Public Policy Leader, PwC  

Learn how you can prepare for the Trump administration’s new regulatory landscape.

“Given that responsible use is one of the keys to AI's success, now is the time to be investing in your Responsible AI strategy, defining it broadly, and planning how to scale and operate it inside your organization so you can drive your own innovation agenda and drive greater return on investment of your AI tools.”

Matt Wood, US and Global Commercial Technology & Innovation Officer, PwC

Learn how you can prepare for the Trump administration’s AI policies. 

“To help address energy issues such as energy supply and independence, insufficient grid modernization, energy security and extreme weather events, we need coordinated actions across federal, state and private sector players.”

Earl Simpkins, US Energy and Industrial Strategy Leader, PwC

Learn how you can prepare for the Trump administration’s energy policies.

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