Month: May 2026

Source: United States White House

class=”has-text-align-center”>Director Michael Kratsios
The White House Office of Science and Technology Policy

Remarks as Prepared for Delivery
Operation Gigawatt Summit
Deer Valley, Utah

Thank you. It is so good to be with you here in beautiful Utah. I want to thank Governor Cox for bringing us together today. Federalism is foundational to America’s greatness, and states like Utah are fundamental to the American Nuclear Renaissance.

As some of you may know, tomorrow marks one year since President Trump signed a series of Executive Orders on nuclear energy. On behalf of the Trump Administration, I am here to celebrate how far we’ve come in these past 12 months, and to share a vision of where we are headed next.  

With last year’s executive orders, President Trump made the most transformational decision for civil nuclear power since President Eisenhower announced Atoms for Peace, in 1953. That heralded the first heyday of American nuclear energy. Within two decades, the country had 30 nuclear plants in operation, 55 under construction, and more than 80 in planning or under order. Americans looked forward to a future of nuclear trains, planes, and flying automobiles.

As you know, that momentum did not last. Prior to President Trump’s policies, we weren’t testing new reactors, we were shutting perfectly good reactors down. We were totally dependent on other countries for our fuel. The average NRC review time for licensing new reactors took more than 20,000 hours. The issuance of a combined operating license took 48-60 months. Receiving a license amendment for power uprates at existing facilities could mean waiting two-and-a-half years. And far, far too often, innovators spent all this time pulling together all this paperwork, just to be told no.

All of that has changed. The reforms and actions these orders called for are not merely an evolution in American energy infrastructure, they are bringing about a revolution for American power. The successes of the last year will be the foundations of a century of innovation.

One year-ago tomorrow was a starting shot in a renewed race to a brighter future. Old inertia has been reversed. This industry has been given new momentum. Now the policy, business, and technology innovators that fill this room are doing incredible things. Thank you, all of you, for sharing this vision and taking on these challenges.

Allow me to briefly describe some of the of the progress of the last 12 months.

You are building again. We are testing again. To accelerate development of cutting-edge SMR technology, the President set an ambitious goal for the DOE reactor pilot program: At least three test reactors would achieve criticality before the Fourth of July, 2026. Many people, maybe even some of you in this room, doubted this could be done. But we are confident we will see criticality from at least three program participants in the coming days and weeks, before that deadline. And I’m happy to say that DOE, NRC, and DOW are working together to create streamlined licensing pathways for successful participants, so they can avoid duplicative submittals when seeking future license approvals.

In addition, the American nuclear industrial base is getting the overhaul it needs to meet today’s electricity and national security requirements. In the last year alone, we produced twice as much domestic uranium as we had in the previous 6 years combined. More than $2-and-a-half billion has been invested in domestic uranium enrichment. And we are making progress in American nuclear exports and increased nuclear cooperation with our partners, including backing for American construction of reactors in allied countries.

Here at a celebration of Utah’s investment in the Nuclear Renaissance, I’m particularly glad to share the progress we are making with states in bringing the complete nuclear fuel cycle home, and its place in reindustrializing America. What to do with used nuclear fuel has been an unsolved problem for decades. With the Nuclear Lifecycle Innovation Campuses concept, it’s finally unstuck.

The response to this proposal has been unbelievably enthusiastic, across the country. Since February, DOE has received more than 20 applications from interested states, including four states that unequivocally applied to take uncapped and unrestricted amounts of used fuel. The culture around nuclear power has changed so much, and for the better. We are confident again.

Nuclear energy is no longer viewed primarily as a liability to be managed or a nonproliferation risk to be suppressed, but once again as a powerful tool for enhancing national security. And though no one can deny the pride and importance of its nuclear legacy, the Navy will no longer be the main face of military nuclear energy. The Janus Program will deliver microreactors to military installations under U.S. Army oversight by 2028. We are on track, and the Air Force is getting in on these exciting developments, too. Energy resilience is necessary everywhere, but perhaps nowhere as much as at our vital national defense facilities. 

President Trump’s policies have resulted in the radical reformation of the NRC. We are comprehensively modernizing the way nuclear facilities and materials are licensed in the United States. In the last year, the NRC has eliminated a host of unneeded regulatory and bureaucratic burdens while improving its focus on safety and efficiency. It is approving power uprates and license extensions inside a year, and taking a truly fresh approach to environmental review. The Robinson plant renewal was the fastest ever license review. The NRC has authorized renewals for 18 reactors, securing nearly 17,000 megawatts of power for 20 additional years. The NRC also recently issued the first commercial advanced reactor construction permit in decades. And it granted the first-ever license to commercially manufacture TRISO fuel. There’s more to do, but the public servants at the NRC are doing it, and the progress has been transformational.

The Trump Administration has prioritized American energy dominance from its first day back in office. This room needs no reminder, but everything we are working for—rebuilding the national industrial base, winning the AI race with China, reshoring semiconductor fabrication, taking back the drone industry, and ushering in a new space age of supersonics, flying cars, and rocket ships—means the supply of American energy and power has to go up.

Civilian nuclear is key to making that happen. President Trump’s vision for adding nuclear power to the grid includes restarting shutdown reactors and increasing power production by the country’s existing fleet. We will add 5 Gigawatts to the grid by 2030, equivalent to building five new large reactors. In fact, just the planned restarts of the Palisades in Michigan and the Crane Energy Center in Pennsylvania will add more than 1600 Megawatts to the grid within the next few years. Moreover, the NRC has proposed the nation’s first-ever regulatory framework for fusion machines, paving the way for an entirely new class of energy technology.

Today is not just about celebrating a year since President Trump signed his historic nuclear orders. This anniversary year, it is also an opportunity to celebrate more than 250 years of American exploration of the scientific frontier.

In 1752, Benjamin Franklin flew a kite in a storm outside Philadelphia. In that experiment, the Founding Father of American science proved the electric nature of lightning. Two centuries later Franklin’s spiritual heirs lit four 200-watt lightbulbs with Experimental Breeder Reactor No. 1 outside Arco, Idaho, inaugurating the era of civilian atomic power.

In the time between Franklin’s kite and the dawn of nuclear energy, America won her independence, became a continent-spanning industrial giant, and ushered in the age of Edison. Americans electrified the world, and with our new and growing power invented many of the fundamental building blocks of modern life.

We can do so again. As President Eisenhower said, launching Atoms for Peace, “the United States knows that peaceful power from atomic energy is no dream of the future.” I do not know what the future will hold, but I know that the steps we celebrate today will help to light the path to get there.

More importantly, in 2026, I know that America’s civilian nuclear program will give ourselves, our children, and our children’s children the energy necessary to sustain and build this great nation for the next 250 years.

Thank you.

Source: United States White House

For over two and a half centuries, the dedicated members of the United States Merchant Marine have powered our economy, secured our commerce, and defended American interests at home and abroad. Today, we honor the brave Mariners who have borne our Nation’s strength across the seas, and we recommit to restoring and expanding America’s maritime dominance. 

The Merchant Marine has played an indispensable role in defending and advancing American interests since the earliest days of our Republic.  During the Revolutionary War, Merchant Mariners defied enemy blockades, captured British vessels, and delivered critical supplies that fueled the Continental Army’s righteous pursuit of liberty.  Their unwavering courage and selfless sacrifices helped secure the Independence of our young Republic, and they never wavered in standing firm for our Nation in the centuries since.  In World War II, the Merchant Marine played a decisive role in transporting troops, fuel, and vital war material across perilouswaters.  Facing relentless enemy attacks and massive casualties, these patriots triumphantlypersevered and helped ensure victory in our fight against tyranny. Whenever our Nation has been called to action—whether in war or in peace—the United States Merchant Marine has answered with unmatched resolve, carrying the strength and prosperity of America across every ocean in the world.

Today, that mission is more vital than ever before.  Merchant Mariners move the goods that stock our shelves, fuel our industries, and supply our Armed Forces around the globe.  Their work strengthens our economy and supports our national security, which is why my Administration is proudly restoring America’s maritime strength.  Last year, I signed an Executive Order to expandour shipbuilding capacity, strengthen our maritime workforce, protect our industrial base, and ensure America’s shipping capabilities can support both military operations and economic independence.  As a result of these decisive actions, our Nation is securing unprecedented investments in port and maritime infrastructure, boosting American industry, driving economic growth, and protecting our national security.

Today, we pay tribute to the men and women of the United States Merchant Marine, whose steadfast service has sustained our Nation through its greatest trials and carried our prosperity to new heights.  As we celebrate 250 glorious years of American Independence, we renew our commitment to strengthening our maritime power and ensuring that America is the mostdominant force upon the oceans for generations to come.

Source: United States White House

The Government of the United States of America and the Government of Sweden (hereinafter referred to as the “Participants”),

Expressing mutual interest in science and technology capabilities and standards to usher in a new age of innovation to fortify freedom and prosperity for generations to come,

Affirming the value of bilateral science and technology collaboration to enrich the lives and livelihoods of citizens in both countries, and to elevate cooperation to a higher level,

Recognizing the importance of deepening ties with strategic partners as a means to strengthen stability, security, and competitiveness, and

Building on longstanding bilateral research and innovation partnerships, including the 2006 Agreement on Science and Technology Cooperation,

Have reached the following understandings:

I. Purpose

The purpose of this Memorandum of Understanding (hereinafter “MOU”) is to enable collaboration towards joint opportunities of mutual interest in strategic science and technology disciplines in order to power the next generation of AI and global connectivity, accelerate biomedical research and innovation, unlock industrial competitiveness, secure energy leadership, strengthen space collaboration, advance a secure quantum ecosystem, and strengthen security in research and industry.

II. Areas of Cooperation

The Participants aim to collaborate in a number of disciplines, including but not limited to the following:

Accelerating the Development and Diffusion of Trusted AI and Advanced Connectivity

Recognizing the importance of secure and trusted technology infrastructure to economic prosperity and national security, the Participants will deepen cooperation to advance next generation AI and network technologies. The Participants intend to collaborate on R&D, promote the development and diffusion of trusted technology stacks including AI and network technology, and coordinate on international telecommunications standards development.

Focus areas for collaboration are intended to include:

• Partnering to advance the diffusion of trusted technology stacks, including as appropriate, promoting exports, using tools such as export financing and support to accelerate adoption in third party countries;
• Building a trusted, interoperable 5G supply chain, and advocating for policies that accelerate adoption of trusted connectivity infrastructure;

• Shaping telecommunications principles and standards in line with shared priorities through coordinated engagement in international bodies including the International Telecommunication Union, the Global Coalition on Telecommunications, and in partnership with industry at 3GPP;
• Collaborating to strategically engage regional partners to advance resolutions and align positions in advance of the 2027 World Radiocommunication Conference and 2026 ITU Plenipotentiary;
• Cooperating to strengthen connectivity between North America, Northern Europe, and the Indo-Pacific region by supporting the establishment of subsea communication cables across the Arctic;

• Promoting secure AI innovation across industry sectors and academia, by exploring joint research on AI for advanced manufacturing, materials, and production technologies; industrial automation; and other industry-relevant applications;
• Strengthening and expanding joint research and development on 5G/6G, including on wireless networks, cloud, electronics, and security, while advancing strategic use cases in critical infrastructure, defense, and mission critical applications, and applied AI.

Accelerating Biomedical Research and Innovation

Recognizing the importance of advancing biomedical research, including cancer and rare diseases, through artificial intelligence, and securing biotechnology and health supply chains, the Participants intend to deepen cooperation to accelerate biomedical innovation and strengthen resilience across the health ecosystem.

Focus areas for collaboration are intended to include:

• Exploring pathways to develop opportunities for cooperation in the area of health data for biomedical research, to accelerate discovery and improve patient outcomes;

• Sharing experiences and exploring possible joint activities to address antimicrobial resistance (AMR); and
• Advancing biomedical innovation to strengthen resilient supply chains, including through identifying chokepoints and reducing reliance on adversary-linked supply chains.

Advancing Manufacturing and Industrial Competitiveness

Recognizing the importance of advanced manufacturing as a driver of economic competitiveness, resilience, and innovation, the Participants intend to deepen cooperation to accelerate the adoption of digital manufacturing, additive manufacturing, and next generation production methods that strengthen supply chains and support high quality job creation. The Participants intend to deepen collaboration across the full spectrum of advanced manufacturing technologies, including industrial automation, precision engineering, and robotics.

Focus areas for collaboration are intended to include:

• Accelerating adoption of digital manufacturing tools and AI-driven process optimization including through collaboration on testbeds and pilot programs;
• Deepening collaboration on advanced materials, potentially including high- performance alloys and composites, to support critical sectors such as defense and semiconductor supply chains; and
• Advancing cooperation on advanced manufacturing including key technologies for vehicles, rare-earth free materials, high efficiency motors, and advanced batteries.

Unlocking Energy Innovation and Resilience

The Participants aim to strengthen cooperation to advance secure, resilient, and diversified energy systems. Together the Participants intend to expand energy collaboration including on nuclear energy and critical minerals technologies to support innovation and the reliable deployment of next generation energy infrastructure.

Focus areas for collaboration are intended to include:

• Strengthening civil nuclear energy cooperation by facilitating commercial partnerships while identifying and addressing market barriers to accelerate the deployment of nuclear power reactors, including advanced reactors, small modular reactors (SMRs), as well as fusion technologies;
• Expanding collaboration on nuclear lifecycle innovation and waste management through scientific exchanges on repository engineering, co-location of repositories, encapsulation of nuclear fuel, and geologic modeling; and
• Promoting innovation in critical minerals technologies including sensing, characterization, exploration, extraction, processing and recovery of critical minerals and advanced materials essential to energy systems.

Strengthening Space Collaboration

Recognizing that bilateral cooperation on space benefits both countries’ national interests, the Participants intend to deepen cooperation and engage in dialogue on space security, space exploration, and space technology research, development, and commercialization.

Focus areas for collaboration intend to include:

• Continuing the strong partnership on space science and human exploration, including potential collaboration on future Artemis lunar surface exploration missions and beyond;
• Facilitating cooperation between commercial actors from the United States and Sweden, supporting growth of space companies from both countries and building on complementary strengths;
• Facilitating commercial and civil space cooperation by addressing regulatory burdens on commercial space activities and advocating for policies that can adapt to technical development, business innovation, and market demands; and
• Leveraging our geostrategic locations as space nations to promote Arctic security and prosperity.

Advancing Defense Innovation

Recognizing the importance of enhancing efforts to research, develop, and commercialize new and emerging technologies for defense technologies, the Participants intend to establish a dialogue on regulatory and policy matters affecting defense technology cooperation, including matters related to technology transfer, and reducing regulatory friction where possible, to support economic and security interests of both parties and to strengthen transatlantic defense industrial collaboration.

Advancing a Secure Quantum Ecosystem

Recognizing the transformative role of quantum technology for future industrial development and shared security, the Participants intend to strengthen their cooperation through the Quantum Development Group to establish a trusted quantum ecosystem and secure and open standards, and explore additional opportunities to enhance research, development, and commercialization of quantum technology potentially including quantum sensing in the medical and health domain.

Strengthening Security in Research and Industry

Recognizing the importance of enhanced research integrity and security across critical and emerging technology research and development, the Participants intend to strengthen continued collaboration to protect a trustworthy research ecosystem, their technologies, their critical supply chains, and their people. The Participants intend to collaborate on research integrity and security while strengthening awareness and capacity to mitigate and, where appropriate, prevent risks, in accordance with relevant national legislations.

Focus areas for collaboration are intended to include:

• Strengthening security in research and industry through IP security, investment screening, partnerships, and talent integrity safeguards related to entities of shared security concerns;
• Building trusted science and innovation ecosystems by mitigating risks and, where appropriate, preventing high-risk entities in sensitive science and technology R&D activities;
• Strengthening safeguards for government funded research and talent programs by enhancing disclosure of foreign funding and affiliations in order to mitigate and address security risks and where appropriate, prevent partnerships with entities of shared security concerns;
• Establishing a bilateral research security dialogue and information exchange on threats, cases, risk assessments, mitigation efforts, and entities of security concern;
• Collaborating with allies and partners to adopt enhanced research security practices to facilitate a trusted innovation ecosystem; and
• Applying shared research integrity and security principles across TPD workstreams to guide collaboration, protect sensitive R&D activities, and inform future research security programming.

III. Operation and Discontinuation

This MOU becomes operative on the date of the last signature. The Participants may modify this MOU by written mutual decision.

Either Participant may discontinue this MOU by providing written notice of discontinuation to the other Participant. The discontinuation is expected to commence on a date 180 days after the date on which notice of discontinuation is delivered. 

The Participants will advance the implementation of the MOU through the Joint Committee Meeting mechanism. The modalities of the Joint Committee, including its composition, meeting frequency, and working procedures, will be established by mutual agreement of the Participants following the entry into force of this MOU.

This MOU does not constitute or create and is not intended to constitute or create any legally binding obligations. Nothing in this MOU is intended to alter or affect any existing agreements between the Participants. Cooperation under this MOU is intended to take place within the framework of applicable national legislation and international obligations, including, for Sweden, applicable current and future European Union coordination, laws and regulations, with a view to promoting collaboration without prejudice to respective regulatory processes. Nothing in this MOU commits the Participants to the expenditure of funds.

Activities involving personal data shall be conducted in compliance with applicable data protection frameworks. This MOU does not authorize any transfer of classified, controlled, or proprietary information. Any intellectual property matters shall be addressed in separate implementing arrangements or project‑specific agreements, as appropriate.

The foregoing represents the understanding reached between the Participants on the matters referred to in this MOU.

Source: United States White House

DELIVERING A WIN FOR AMERICAN FAMILIES AND LOWERING THE COST OF LIVING: Today, President Donald J. Trump terminated the Biden Administration’s ridiculous regulations that imposed burdensome and costly requirements on refrigerators and air conditioners. These regulations needlessly and substantially increased the price of transporting and storing refrigerated goods, driving up the price of food and other items Americans buy every day.

• The Environmental Protection Agency (EPA) finalized revisions to the 2023 Technology Transitions Rule to extend compliance deadlines for the use of hydrofluorocarbons, making a wider variety of more affordable refrigerants available to businesses.
• President Trump is also proposing a correction to the 2024 Emissions Reduction and Reclamation Rule that imposed crippling leak repair requirements on virtually all existing large-scale refrigeration systems—hurting consumers and small businesses across the country. These higher costs threatened thousands of jobs and were passed on in the form of higher prices.
• Together, this added flexibility will have positive impacts on supermarkets, home air conditioning systems, semiconductor chip manufacturing, and medical supply transportation, lowering operating costs which in turn will result in lower costs for consumers.

REVERSING UNNECESSARY REGULATION TO ENHANCE ECONOMIC OPPORTUNITY: President Trump is rolling back costly Biden-era policies that imposed regulatory burdens disproportionate to any benefit, restoring economic freedom for families and businesses.

• Today’s actions will save Americans a total of $2.4 billion, delivering critical relief from the crippling costs the Biden Administration imposed on grocery stores, businesses, and ultimately, American families.
• Changes to the Technology Transitions Rule will safeguard over 350,000 high-skilled American jobs, save Americans over $900 million dollars – including over $800 million at the supermarkets – and lower food prices across the Nation.
• EPA estimates that the changes to the Emissions Reduction and Reclamation Rule could save transporters of refrigerated goods, including food, up to $1.5 billion.

INVESTING IN AMERICA’S FOOD SUPPLY: President Trump continues to encourage investment in America’s food supply chain and an aggressive deregulatory agenda, spurring lower grocery and living costs.

• Earlier this week, President Trump announced a new Small Business Administration (SBA) rule that doubles cumulative 7(a) and 504 loan limits to $10 million, expanding the impact of SBA’s “Grocery Guarantee”, which is reducing grocery costs for consumers by providing 90% Federal guarantees to eligible loans that expand food production.
• Immediately upon returning to office, President Trump launched a 10-to-1 deregulation initiative, ensuring every new rule is justified by clear benefits.

• In December, President Trump unveiled a historic reset of the Biden Administration’s costly and unlawful Corporate Average Fuel Economy (CAFE)  standards to levels that can actually be met with conventional gasoline and diesel vehicles, saving American families $109 billion in total over the next five years.
• In December, President Trump signed an Executive Order to stop price fixing, anti-competitive behavior, and foreign influence that drives up grocery prices and threatens the security of America’s food supply.
• In February, President Trump repealed the disastrous Obama-era Endangerment Finding, avoiding over $1 trillion in costs for Americans.
• In February, President Trump temporarily increased the U.S. tariff-rate quota for lean beef trimmings to boost supply and make ground beef affordable for American consumers despite current supply challenges.
• Cumulatively, President Trump’s deregulatory agenda saves Americans over $1.2 trillion.

Source: United States White House

Today, our Nation proudly celebrates the 94th anniversary of Amelia Earhart’s first solo flight across the Atlantic Ocean—an extraordinary achievement and testament to the bravery, ingenuity, and unyielding spirit that define the American character.

There are few Americans who embody the bold ambition of our Nation more than Amelia Earhart.  Throughout her life, she pushed the boundaries of what was possible in aviation, setting altitude and speed records shortly after obtaining her pilot’s license and becoming a household name in 1928 as the first woman to cross the Atlantic by air as a passenger of a two-man crew.  Even with these extraordinary accomplishments, her determination knew no limits, and she vowed to conquer that same ocean alone.

On May 20, 1932—5 years to the day after Charles Lindbergh’s legendary transatlantic flight—Earhart soared into history.  Battling exhaustion, a leaking fuel tank, and an engine erupting in fire, Earhart held her course with incredible resolve.  Though fierce weather drove her off her intended path to Paris, she brought her plane down in an Irish pasture nearly 15 hours after departing the shores of Newfoundland, becoming the first woman to fly solo across the Atlantic Ocean.

The same indominable drive that carried Earhart across the vast and unforgiving ocean 94 years ago continues to draw the eyes of our Nation skyward.  Under my leadership, we are paving the way for a new Golden Age of air travel, championing the development of supersonic flight and advanced aircraft, which will secure America’s place at the forefront of technological advancement.  As the most transparent Administration in American history, I also ordered the release of Government records related to Amelia Earhart’s disappearance.  Just as Earhart defied the limits of human achievement, our Nation is defying the limits of what is possible every day, driving the momentum that will keep America the world’s undisputed engine of innovation and prosperity for centuries to come.

As our Nation celebrates 250 years of independence, we honor those bold American pioneers, who dared to reach beyond what others thought possible.  Earhart’s legacy will forever endure as a reminder that the American spirit has never been content to stand still—it is restless, it is fearless, and it is forever fixed on the horizons of tomorrow.  Together, as we mark the anniversary of Amelia Earhart’s historic feat, we recommit ourselves to the same relentless passion that drove her forward, confident in the belief that the greatest chapter of the American story is still to come.

Source: United States White House

Today, we commemorate Cuban Independence Day—the 124th anniversary of a once free nation’s birth, forged through sacrifice, courage, and an unbreakable desire for liberty.  Like the American patriots who cast off tyrannical rule 250 years ago, Cuba’s founding generation rose against the Spanish Empire’s subjugation to claim the same birthright our citizens enjoy today:  the right of a free people to govern themselves.  Their journey echoes our own, and their dream of freedom remains as vital today as it was when they first dared to fight for it.

Across generations, the Cuban people have demonstrated an unyielding devotion to the cause of freedom and a resilience of spirit that no regime—past or present—has been able to extinguish.  On May 20, 1902, that defiant vision was realized when the Republic of Cuba was established, marking the beginning of self-government for our island neighbors.  The Cuban people’s love of liberty, ingenuity, hard work, and great faith in God carried them through the first half of the 20th century—and to this day, these time-honored values continue to live on in their hearts.

The regime in Havana today is the direct betrayal of the nation their founding patriots bled and died for.  For nearly seven decades, the island’s communist government has violently dismantled political freedom, denied its people fair elections, viciously silenced dissent, and strangled the Cuban economy into a state of collapse.  While the people suffer, the regime’s kleptocratic elite have hoarded the island’s remaining resources for themselves and their lavish lifestyle.  In the way of all radical leftist ideologies, the regime has quashed any hope of prosperity, banished the notion of human dignity, and starved the hopes and dreams of its people.  Its military leaders have demonstrated zero care for ensuring the prosperity of the Cuban people, channeling their attention instead only towards maintaining control and the regime’s raison detre of violently exporting communism and despotism abroad. 

As President, I am taking decisive action on behalf of this long-suffering corner of our hemisphere, and to address threats to our national security emanating from the region.  Under my leadership, our Nation is severing the financial lifelines that, for too long, have sustained brutal regimes across Central and South America and funded their trans-national criminal and terrorist operations that threaten the United States.  In January, our Nation’s incredible Armed Forces carried out one of the boldest, most impressive special operations in generations—the capture and extradition of the Venezuelan narcoterrorist, Nicolas Maduro.  The indictment and removal of Maduro sent a clear message to his socialist allies in Havana: this is our Hemisphere and those that destabilize it and threaten the United States will face consequences. 

Following the Maduro raid, I have enacted powerful new sanctions on Cuba’s military and intelligence apparatus, and those who provide it with material and financial support, depriving the regime of resources and its elites from the opportunity to profit from the people’s suffering. My commitment is ironclad:  America will not tolerate a rogue state harboring hostile foreign military, intelligence and terror operations just ninety miles from the American homeland, and we will not rest until the people of Cuba once again have the freedom their forefathers fought so valiantly to establish over 100 years ago.

On this Cuban Independence Day, our Republic stands in solidarity with the Cuban people and with the millions of Cuban-Americans who have so profoundly enriched the life of our Nation.  Many of them came to these shores with nothing, built extraordinary lives, and embraced with their whole hearts the constitutional way of life that makes America the greatest country on earth.  Today, we salute them and remember all those who have sacrificed for a free Cuba, and we look with confidence toward a new Golden Age for the island and its people.

Source: United States White House

class=”has-text-align-center”>BY THE PRESIDENT OF THE UNITED STATES OF AMERICA

A PROCLAMATION

1.  Section 5019(a)(1)(A) of the Consolidated Appropriations Act, 2026 (Public Law 119-75), amended section 506B of the Trade Act of 1974 (the “Trade Act”) (19 U.S.C. 2466b), as amended, and section 5019(a)(1)(B)(i) of the Consolidated Appropriations Act, 2026, amended section 112(g) of the African Growth and Opportunity Act (the “AGOA”) (19 U.S.C. 3721(g)), to provide that in the case of a beneficiary sub-Saharan African country, duty-free treatment provided under title V of the Trade Act shall remain in effect through December 31, 2026.

2.  Section 5019(a)(1)(B)(ii) of the Consolidated Appropriations Act, 2026, amended section 112(b)(3)(A) of the AGOA (19 U.S.C. 3721(b)(3)(A)) to extend the regional apparel article program through December 31, 2026.  Section 5019(a)(1)(B)(iii) of the Consolidated Appropriations Act, 2026, amended section 112(c)(1) of the AGOA (19 U.S.C. 3721(c)(1)) to extend the third-country fabric program through December 31, 2026.

3.  Section 506A(a)(1) of the Trade Act, as added by section 111(a) of the AGOA (title I of Public Law 106-200, 114 Stat. 251, 257-58) (19 U.S.C. 2466a(a)(1)), authorizes the President to designate a country listed in section 107 of the AGOA (19 U.S.C. 3706) as a “beneficiary sub-Saharan African country” if the President determines that the country meets the eligibility requirements set forth in section 104 of the AGOA (19 U.S.C. 3703), as well as the eligibility criteria set forth in section 502 of the Trade Act (19 U.S.C. 2462).  Section 506A(a)(3) of the Trade Act authorizes the President to terminate the designation of a country as a “beneficiary sub-Saharan African country” if the country is not making continual progress in meeting the eligibility requirements set forth in section 104 of the AGOA (19 U.S.C. 3703), as well as the eligibility criteria set forth in section 502 of the Trade Act (19 U.S.C. 2462).

4.  In Proclamation 10692 of December 29, 2023 (To Take Certain Actions Under the African Growth and Opportunity Act and for Other Purposes), the President determined that the Gabonese Republic (Gabon) was not making continual progress in meeting the requirements described in section 506A(a)(1) of the Trade Act.  Thus, pursuant to section 506A(a)(3) of the Trade Act (19 U.S.C. 2466a(a)(3)), the President terminated the designation of Gabon as a beneficiary sub-Saharan African country for purposes of section 506A(a)(1) of the Trade Act.

5.  Pursuant to section 506A(a)(1) of the Trade Act, based on actions the Government of Gabon has taken, I have determined that Gabon meets the eligibility requirements set forth in section 104 of the AGOA and the eligibility criteria set forth in section 502 of the Trade Act, and I have decided to designate Gabon as a beneficiary sub-Saharan African country.

6.  Section 5020(a)(1)(A)(i) of the Consolidated Appropriations Act, 2026, amended section 213A(b)(1)(B)(v)(I) of the Caribbean Basin Economic Recovery Act (19 U.S.C. 2703a(b)(1)(B)(v)(I)) (the “CBERA”) to change applicable percentage limits of the Haiti Economic Lift Program.  Section 5020(a)(1)(A)(ii) of the Consolidated Appropriations Act, 2026, amended section 213A(b)(1)(C) of the CBERA (19 U.S.C. 2703a(b)(1)(C)) to extend preferential treatment during each period after the initial applicable 1-year period to not more than 1.25 percent of the aggregate square meter equivalents of all apparel articles imported into the United States in the most recent 12-month period for which data are available.  Section 5020(a)(2) of the Consolidated Appropriations Act, 2026, amended section 213A(h) of the CBERA (19 U.S.C. 2703a(h)) to extend duty-free treatment provided to Haiti through December 31, 2026.

7.  Section 604 of the Trade Act (19 U.S.C. 2483), as amended, authorizes the President to embody in the Harmonized Tariff Schedule of the United States (HTSUS) the substance of statutes affecting import treatment, and actions thereunder, including the removal, modification, continuance, or imposition of any rate of duty or other import restriction.

NOW, THEREFORE, I, DONALD J. TRUMP, President of the United States of America, by the authority vested in me by the Constitution and the laws of the United States, including sections 506A(a)(1) and 506B of the Trade Act, sections 112(b)(3)(A), (c)(1), and (g) of the AGOA, sections 213A(b)(1) and (h) of the CBERA, and section 604 of the Trade Act, do hereby further proclaim as follows:

(1)  To provide that duty-free treatment provided under the AGOA shall be effective through December 31, 2026, general note 16(c) of the HTSUS is modified as set forth in Annex I to this proclamation.

(2)  To provide that the AGOA regional apparel article program and third-country fabric program are effective through December 31, 2026, U.S. Note 2(b), subchapter XIX, chapter 98 of the HTSUS is modified as set forth in Annex I to this proclamation.

(3)  In Proclamation 8157 of June 28, 2007 (To Modify Duty-Free Treatment Under the Generalized System of Preferences, Take Certain Actions Under the African Growth and Opportunity Act, and for Other Purposes), the President modified U.S. Note 2(b), subchapter XIX to chapter 98 of the HTSUS by inserting “through October 1, 2011,”.  Public Law 112–163 amended the AGOA to extend the third-country fabric program to September 30, 2015, but the President did not make a conforming change by modifying “through October 1, 2011,” in the HTSUS.  The Trade Preferences Extension Act of 2015 (Public Law 114-27) extended the AGOA program to “September 30, 2025,” but Proclamation 9466 of June 30, 2016 (To Implement the World Trade Organization Declaration on the Expansion of Trade in Information Technology Products and for Other Purposes), did not make a conforming change by modifying “through October 1, 2011,” in the HTSUS.  To make this technical correction, U.S. Note 2(b), subchapter XIX to chapter 98 of the HTSUS is modified as set forth in Annex II to this proclamation. 

(4)  To reflect the designation of Gabon as a beneficiary sub-Saharan African country for purposes of the AGOA and section 506A of the Trade Act, effective January 1, 2026, general note 16(a) of the HTSUS is modified as set forth in Annex I to this proclamation.

(5)  To provide that the tariff treatment and applicable percentage limits to Haiti intended under section 213A of the CBERA are effective through December 31, 2026, subdivisions (f)(i) and (g)(i) of U.S. Note 6 to subchapter XX, chapter 98 of the HTSUS are modified as set forth in Annex III to this proclamation.

(6)  Each executive department and agency (agency) is authorized to and shall take all appropriate measures within its authority to implement this proclamation.  The head of each agency may, consistent with applicable law, including section 301 of title 3, United States Code, redelegate any of these functions within their respective agency.

(7)  The United States Trade Representative, in consultation with U.S. Customs and Border Protection and the United States International Trade Commission, shall determine whether any additional modifications to the HTSUS are necessary to effectuate this proclamation and shall make such modifications to the HTSUS through notice in the Federal Register, including any technical correction to the Annexes to this proclamation.

(8)  Any provision of previous proclamations and Executive Orders that is inconsistent with the actions taken in this proclamation is superseded to the extent of such inconsistency.  If any provision of this proclamation or the application of any provision to any individual or circumstance is held to be invalid, the remainder of this proclamation and the application of its provisions to any other individuals or circumstances shall not be affected.

ANNEX I

ANNEX II

ANNEX III

IN WITNESS WHEREOF, I have hereunto set my hand this nineteenth day of May, in the year of our Lord two thousand twenty-six, and of the Independence of the United States of America the two hundred and fiftieth.

DONALD J. TRUMP

Source: United States White House

On Tuesday, May 19, 2026, the President signed into law:

H.R. 972, the “Sloan Canyon Conservation and Lateral Pipeline Act,” which expands the boundaries of the Sloan Canyon National Conservation Area in Clark County, Nevada, and directs the Department of the Interior’s Bureau of Land Management to grant rights-of-way to the Southern Nevada Water Authority for the construction of a water transmission pipeline and related facilities to serve the Las Vegas Valley;

H.R. 2066, the “Investing in All of America Act of 2025,” which modifies the maximum amount of outstanding leverage available to a Small Business Investment Company (SBIC) and excludes from the calculation of the leverage cap an SBIC’s investments made in small businesses located in low-income or rural areas, small manufacturers, and critical technology-focused small business; and

H.R. 2815, the “Cape Fox Land Entitlement Finalization Act of 2025,” which waives the requirement under the Alaska Native Claims Settlement Act for the Cape Fox Village Corporation to receive certain Federal land for settlement purposes and authorizes the Corporation to select other previously identified land..

Source: United States White House

By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered: 

Section 1.  Purpose.  America’s financial institutions serve a critical role in safeguarding the American people against financial fraud and abuse.  My Administration has taken significant steps to lower the costs of providing financial services for Americans and reduce unnecessary and burdensome Federal regulations that restrain economic growth and hamper the competitiveness of financial service providers nationwide.  However, it has long been the policy of the United States to adopt tailored measures to safeguard our financial system from illicit use and promote safe and sound lending and other practices by financial institutions.  My Administration will not tolerate national security and public safety risks caused by illicit cross-border financial activity, nor will it permit risks to our financial system posed by the extension of credit or financial services to the inadmissible and removable alien population.

Even the provision of the most basic financial services, absent proper know-your-customer practices, can be abused to facilitate the funding of activities that pose significant threats to national security and public safety.  Low-dollar cross-border funds transfers have been used to facilitate or commit terrorist financing, narcotics trafficking, human trafficking, and other illegal activity.  Financial trend analyses have uncovered hubs of deadly fentanyl-related financial activity in the United States related to Mexico-based cartels.  A recent analysis of Chinese money laundering networks identified how foreign passport holders have used United States-based accounts to facilitate the laundering of over $312 billion for criminal organizations, with human trafficking highlighted among the activities associated with the transfers.  Robust customer identification programs and enhanced due diligence measures are necessary to mitigate these risks.

Banks and other financial institutions should also be attentive to the credit risks posed by the extension of mortgage and auto loans, credit cards, and other consumer credit to the inadmissible and removable alien population.  Many of those borrowers face the possibility of the loss of wages due to removal or their employers’ decisions to comply with immigration law.  Lending to aliens without legal work authorization or who face a substantial loss-of-wage risk creates a structural “ability to repay” deficiency that undermines the safety and soundness of the national banking system.  Additionally, employers who violate immigration law may underreport wages, use mismatched or invalid Social Security numbers and taxpayer identification numbers, or fail to properly withhold or remit payroll taxes.  Such schemes can create vulnerabilities within our financial system by obscuring income sources, distorting credit underwriting, and facilitating underground economic activity.

It is the policy of my Administration to restore integrity to America’s financial system, safeguard financial institutions against structural risks, and deter fraud and abuse.

Sec. 2.  Definition.  The term “Federal functional financial regulator” means the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration.

Sec. 3.  Safeguarding Against Fraud and Abuse.  (a)  Within 60 days of the date of this order, the Secretary of the Treasury shall issue a formal Advisory to financial institutions regarding the risks associated with the exploitation of the United States financial system by non-work authorized populations and their employers.  This Advisory shall describe specific red flags and typologies associated with the following categories of suspicious activity:

(i)    evidentiary patterns of payroll tax evasion by employers or labor brokers, including the systematic failure to withhold or remit Federal employment taxes for non-work authorized individuals;

(ii)   the utilization of certain foreign-identity documents, nominee accounts, shell companies, or complex “funnel” structures designed to obfuscate the identity of the ultimate beneficial owners or conceal the true nature of payroll disbursements;

(iii)  the strategic use of unregistered money services businesses, third-party payment processors, or peer-to-peer platforms to facilitate “off-the-books” wage payments intended to bypass Bank Secrecy Act reporting thresholds or tax obligations;

(iv)   patterns of repetitive, sub-threshold cash withdrawals or deposits that correlate with payroll cycles conducted outside of regulated payroll processing systems, also known as “structuring and micro-structuring”;

(v)    financial activity indicative of labor trafficking or forced labor (as defined in 18 U.S.C. 1589), where proceeds are commingled with legitimate business revenue or transferred to foreign jurisdictions; and

(vi)   the use of an individual taxpayer identification number (ITIN) to obtain credit products or open depository accounts where the applicant lacks verified lawful immigration status.  Although an ITIN facilitates tax compliance, its use in lieu of a Social Security number or valid work-authorized visa may be identified as a risk factor requiring enhanced due diligence to ensure the account is not being utilized to facilitate the unlawful employment of unauthorized aliens.

(b)  Within 90 days of the date of this order, the Secretary of the Treasury shall, in consultation with the appropriate Federal functional financial regulators, propose changes to applicable implementing regulations of the Bank Secrecy Act to strengthen risk-based customer due diligence requirements for covered financial institutions.  Such changes should ensure that:

(i)   institutions collect and verify sufficient customer identity information to reasonably identify the nominal and beneficial owners of accounts in order to assess risks related to illicit finance, sanctions evasion, fraud, or other unlawful activity; and

(ii)  institutions maintain the authority, where warranted by other risk indicators or supervisory concerns, to obtain additional information necessary to resolve material compliance concerns, including information relevant to whether account holders possess lawful immigration status and employment authorization in the United States when such information is relevant to assessing risks associated with fraud, identity misrepresentation, sanctions evasion, or other illicit financial activity, as part of a risk-based customer due diligence program.

(c)  Within 180 days of the date of this order, the Secretary of the Treasury and the appropriate Federal functional financial regulators shall consider changes to applicable implementing regulations of the Bank Secrecy Act to strengthen risk-based customer identification program requirements for covered financial institutions.  Any changes considered should account for the risks foreign consular identification cards pose to the integrity of the United States financial system.

Sec. 4.  Addressing Structural Credit Risks.  (a)  Within 60 days of the date of this order, the Consumer Financial Protection Bureau shall consider clarifying that potential deportation and loss of wages are factors that could adversely affect a non-work authorized borrower’s ability to repay an extension of credit under the “ability-to-repay” standards in 12 CFR Part 1026 and its appendices and supplements, and that lenders may consider such factors as part of a reasonable and good-faith underwriting determination.

(b)  Within 60 days of the date of this order, each appropriate Federal functional financial regulator shall issue guidance regarding the management of the potential credit risks posed by the non-work authorized population.

Sec. 5.  General Provisions.  (a)  Nothing in this order shall be construed to impair or otherwise affect:

(i)   the authority granted by law to an executive department or agency, or the head thereof; or

(ii)  the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.

(b)   This order shall be implemented consistent with applicable law and subject to the availability of appropriations.

(c)  This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.

(d)  The costs for publication of this order shall be borne by the Department of the Treasury.

DONALD J. TRUMP

THE WHITE HOUSE,

 May 19, 2026.

Source: United States White House

By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered:

Section 1.  Policy.  The United States is a global leader in financial innovation, driven in part by the rapid growth of financial technology (fintech) firms.  These firms provide innovative services and solutions that enhance access to financial products and services and create economic opportunity for all Americans.  To foster this financial innovation, the Federal Government must update regulations to allow integration of digital assets and innovative technology into traditional financial services and payment systems.  The Federal Government must also remove overly burdensome and fragmented regulations and supervisory practices that form barriers to entry and primarily benefit incumbent financial services firms.

It is therefore the policy of the United States to streamline regulatory processes, reduce unnecessary barriers to entry, and encourage collaboration between fintech firms, federally regulated financial institutions, and Federal financial regulators.

Sec. 2.  Definitions.  For the purposes of this order:  (a) “Fintech firm” refers to a non-bank company that uses or develops technological means to offer or support the offering of financial products or services, including, but not limited to, any application or any digital or online technology that facilitates access to, management of, or data processing for financial products or services.  Such financial products or services may include, but are not limited to, payment processing, lending, deposit-taking, derivatives, investment management, brokerage services, underwriting and capital-market activities, custodial and fiduciary services, digital banking, digital asset-related services, securities and commodities market activities, and blockchain-based services.  For the avoidance of doubt, such financial products or services also include the activities set forth in paragraphs (A) through (G) of section 4(k)(4) of the Bank Holding Company Act of 1956 (12 U.S.C. 1843(k)(4)).

(b)  “Bank” has the meaning given that term in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813).

(c)  “Credit union” means an “insured credit union”, as defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752(7)).

(d)  “Financial products and services” refer to activities permissible under Federal or State law for a bank or credit union to undertake as well as the financial activities listed in Appendix A to 12 CFR Part 242.

(e)  “Federal financial regulators” refers to the Consumer Financial Protection Bureau, the Securities and Exchange Commission, the National Credit Union Administration, the Commodity Futures Trading Commission, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency.

Sec. 3.  Streamlining Regulatory Processes.  (a)  Within 90 days of the date of this order, the head of each Federal financial regulator shall conduct a review of existing regulations, guidance, supervisory practices, and application processes to identify those that could be updated to facilitate innovation, and competition to financial products and services for fintech firms, particularly those that are small and emerging.  The reviews shall identify regulations, guidance documents, orders, no-action letters, and other items that unduly impede fintech firms from entering into partnerships with federally regulated institutions (including insured depository institutions, credit unions, broker-dealers, investment advisers, and futures commission merchants), as well as regulations, guidance documents, orders, no-action letters, and other items that could be amended to streamline application processes for eligible fintech firms seeking bank charters, credit union charters, deposit or share insurance, and other Federal licenses, registrations, and authorizations, balancing innovation interests with the importance of safety and soundness, consumer and investor protection, market integrity, financial stability, and oversight.

(b)  Within 180 days of the date of this order, the head of each Federal financial regulator shall, in consultation with the Assistant to the President for Economic Policy, take steps to encourage innovation as a result of the review described in subsection (a) of this section.

Sec. 4.  Access to Federal Reserve Services.  (a)  The Board of Governors of the Federal Reserve System (FRB) is requested to complete the actions described in section 3 of this order.

(b)  The FRB is requested to conduct a comprehensive evaluation of the legal, regulatory, and policy framework governing access to Reserve Bank payment accounts and payment services by uninsured depository institutions and non-bank financial companies, including those engaged in digital assets and other novel financial activities (collectively, covered firms), and those functioning as direct participants in real-time (instant) payment networks.  Within 120 days of the date of this order, the FRB is requested to submit a report to the President, through the Assistant to the President for Economic Policy, setting forth its findings, options, and any recommendations.  The evaluation is requested to assess:

(i)    the legal authority of the Federal Reserve, under the Federal Reserve Act and other applicable Federal law, to extend direct access to Federal Reserve payment accounts and payment services to covered firms;

(ii)   options for expanding such access to the extent permitted by law, subject to appropriate risk management requirements;

(iii)  legal impediments that preclude direct access and a detailed analysis of those impediments, and legislative or regulatory options that would enable such access while mitigating risks to the payment system, financial stability, and the United States economy; and  

(iv)   whether, and if so to what extent, each of the 12 Federal Reserve Banks has legal authority to act independently of the FRB in granting or denying access to Reserve Bank payment accounts and payment services and, if independent action and decisions by individual Federal Reserve Banks is legally permissible, what FRB-level regulations or policies the FRB has established or proposes to establish to ensure that covered firms are evaluated on a consistent basis regardless of which Federal Reserve Bank receives or processes their applications. 

(c)  To the extent the FRB determines, pursuant to its review under subsection (b) of this section, that existing law permits the extension of direct access for covered firms to Reserve Bank payment accounts and payment services, the FRB is requested to establish transparent application procedures for such access and to make determinations with respect to complete applications within 90 days of the application date for such access.

Sec. 5.  General Provisions.  (a)  Nothing in this order shall be construed to impair or otherwise affect:

(i)   the authority granted by law to an executive department or agency, or the head thereof; or

(ii)  the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.

(b)  This order shall be implemented consistent with applicable law and subject to the availability of appropriations.

(c)  This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.

(d)  The costs for publication of this order shall be borne by the Department of the Treasury.

DONALD J. TRUMP

THE WHITE HOUSE,

May 19, 2026.