Trump 2nd term updates: Trump says USAID is run by 'radical lunatics'

The comments came amid turmoil as DOGE took over USAID offices last week.

President Donald Trump made good on his threats to impose tariffs on some of the U.S.'s trading partners, announcing Saturday that he will levy 25% tariffs on some goods from Canada and Mexico and 10% on Chinese goods.

Experts have warned that tariffs of this magnitude will likely increase prices paid by U.S. and Trump appeared to acknowledge that “some pain” might be possible in the U.S.

Meanwhile, the Senate Finance Committee announced it will meet Tuesday, when it is expected to vote on the controversial nomination of Robert F. Kennedy Jr. for secretary of Health and Human Services.

Jan 23, 2025, 11:38 AM EST

Trump's first call to a foreign leader was with Saudi crown prince

Trump's first call with a foreign leader was with Saudi Arabia's Mohammed bin Salman Al Saudi, the White House confirmed. The conversation happened on Wednesday, with the two leaders discussing conflicts in the Middle East and economic issues.

While speaking to the World Economic Forum on Wednesday, Trump confirmed reports that Saudi Arabia is looking to invest $600 billion in the U.S. over the next four years. He said he would be asking the crown prince to "round it out to around $1 trillion."

President Donald Trump makes a special address remotely to the World Economic Forum attend the 55th annual World Economic Forum meeting in Davos, Switzerland, Jan. 23, 2025.
Michael Buholzer/EPA-EFE/Shutterstock

He then said he'd be asking the country and OPEC (Organization of the Petroleum Exporting Countries) to bring down oil prices.

"You got to bring it down, which, frankly, I'm surprised they didn't do before the election. That didn't show a lot of love by them not doing it," he said. "I was a little surprised by that. If the price came down, the Russia-Ukraine war would end immediately. Right now, the price is high enough that that war will continue. You got to bring down the oil price."

Jan 23, 2025, 11:22 AM EST

Trump slams Biden at World Economic Forum

Trump, speaking remotely to a group of public and private sector leaders at the World Economic Forum in Davos, slammed the Biden administration's handling of the U.S. economy.

In what sounded like one of his 2024 campaign speeches, Trump claimed former former President Joe Biden "totally lost control" as inflation and interest rates jumped during his time in office.

Many countries across the globe, however, suffered high inflation amid the COVID-19 pandemic. Inflation in the U.S. peaked at 9% but has since cooled to 2.9%.

President Donald Trump makes a special address remotely to the World Economic Forum attend the 55th annual World Economic Forum meeting in Davos, Switzerland, Jan. 23, 2025.
ABC News

Jan 23, 2025, 10:40 AM EST

Trump's schedule includes executive order signing

The White House has released an official schedule for Trump's fourth day in office.

At 11 a.m. ET he will deliver remarks virtually to the World Economic Forum and have a panel discussion with global CEOS.

At 2:30 p.m. ET, he will have an "executive order signing" in the Oval Office. It's not immediately clear what action he will be taking.

Later, at 3:30 p.m. ET, he will hold a call with El Savador's President Nayib Bukele.

Jan 23, 2025, 10:33 AM EST

Lee Zeldin's nomination to lead EPA advanced by Senate panel

Lee Zeldin's nomination to lead the Environmental Protection Agency has been advanced in an 11-8 vote by the Senate Environment and Public Works Committee.

Lee Zeldin President-elect Donald Trump's nominee to be Administrator of the Environmental Protection Agency, speaks during his Senate Environment and Public Works confirmation hearing on Capitol Hill, Jan. 16, 2025 in Washington.
Anna Moneymaker/Getty Images

Zeldin, a former congressman, emphasized accountability during his confirmation hearing.

He also said he'd potentially "claw back" funds dispersed under the Inflation Reduction Act, one of former President Joe Biden's biggest legislative accomplishments. The law provides billions for renewable energy and combatting climate change.

-ABC News' Kelly Livingston