Month: May 2026

Source: United States White House

BREAKING BARRIERS FOR FINANCIAL TECHNOLOGY INNOVATION AND COMPETITION: Today, President Donald J. Trump signed an Executive Order to streamline regulations and promote financial innovation and collaboration between financial technology (fintech) firms, federally regulated financial institutions, and Federal financial regulators.

• The Order directs Federal financial regulators to review existing regulations, guidance, supervisory practices, and application processes to identify those that could be updated to facilitate innovation and greater competition in the provision of financial services, while maintaining safety and soundness.
• The Order directs the regulators, informed by those reviews, to take steps to encourage innovation by, and growth of, fintech firms and federally regulated institutions of all sizes.
• The Order asks the Federal Reserve to conduct the same regulatory review and to evaluate the legal, regulatory, and policy frameworks governing access to Reserve Bank payment accounts and payment services by uninsured depository institutions and non-bank financial companies.
• The Order asks the Federal Reserve to report on its findings regarding:
  • Legal authorities of the Federal Reserve to extend access to Federal Reserve payment accounts and payment services by uninsured depositories and non-bank fintechs;
  • Options for expanding such access, subject to appropriate risk management requirements;
  • Legal impediments that preclude direct access, along with legislative or regulatory options that could enable such access while mitigating risks; and
  • Authorities and policies, both at the Reserve Bank and Federal Reserve Board of Governors levels, governing access to Reserve Bank payment accounts and services.

PROMOTING FINANCIAL INNOVATION AND CUTTING OUT REGULATORY PROTECTIONS FOR INCUMBENTS: President Trump is acting to ensure that the United States is the global leader in financial innovation by removing outdated regulatory burdens that do not fit the digital age.

• Fintech firms provide a range of innovative services—from banking and payment processes to brokerage, securities, and custodial services—and a broad range of solutions that enhance low-cost and efficient access to financial markets, and create economic opportunity for all Americans.
• To foster Americans’ ability to benefit from these services, the Federal government must update its outdated regulations to allow integration of digital assets and other novel financial technology into traditional financial services and payment systems.
• Rules governing access to various payment services and resource-intensive requirements related to financial institutions’ third-party risk management favor incumbents at the expense of innovators.
• Other financial regulations, guidance, and policies are relics of a time when financial services were predominately provided in brick-and-mortar-centric settings and must be updated to reflect the modern age, the digital economy, and the benefits that technology can offer to all Americans, including lowering costs of financial services.
• This Order will help cement the United States as the world leader in financial technology innovation, which will help drive down costs and create greater economic opportunities for hardworking Americans.

LEADING THE WORLD IN FINANCIAL INNOVATION: President Trump is establishing the United States as a leader in financial and other cutting-edge technologies by cutting red tape and prioritizing innovation and global competitiveness – common sense measures that will lower costs and increase economic opportunities for all Americans.

• In his first week in office, President Trump signed an Executive Order to drive innovation and economic opportunity by securing the United States’ position as the world’s leader in the digital asset economy and establishing regulatory clarity for digital financial technology.
• In March 2025, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile, positioning the U.S. as a world leader in government digital asset strategy.
• In March 2025, President Trump signed an Executive Order to modernize how the government handles money, switching from old-fashioned paper-based payments to fast and secure electronic payments.
• In December 2025, President Trump signed a Presidential Memorandum to ensure America’s leadership in 6G development to ensure U.S. dominance and global competitiveness in cutting-edge technologies.

Source: United States White House

SECURING AMERICA’S FINANCIAL SYSTEM: Today, President Donald J. Trump signed an Executive Orderto protect America’s financial system from illicit activity, strengthen customer identification requirements for financial institutions, and address the credit risks posed by extending financial services to non-work authorized illegal aliens.

• The Order directs the Secretary of the Treasury to issue a formal advisory to financial institutions identifying red flags and suspicious activity patterns tied to payroll tax evasion, concealment of true account ownership, off-the-books wage payments and structuring schemes, labor trafficking, and the use of individual taxpayer identification numbers to open accounts or obtain credit without verified legal presence.
• The Order directs the Secretary of the Treasury, in consultation with Federal financial regulators, to propose changes to Bank Secrecy Act regulations to strengthen customer due diligence requirements and the authority to obtain additional information when warranted, ensuring institutions can identify the true owners of accounts when necessary to assess risks related to unlawful activity.
• The Order directs the Secretary of the Treasury and Federal financial regulators to consider changes to the Bank Secrecy Act to strengthen customer identification program requirements, including accounting for the risks that foreign consular identification cards pose to the U.S. financial system.
• The Order directs the Consumer Financial Protection Bureau to consider modifying regulations to clarify that potential deportation and loss of wages are factors that could affect a borrower’s ability to repay a loan under “ability-to-repay” standards.
• The Order directs Federal financial regulators to issue guidance on managing the credit risks of extending loans and financial services to illegal aliens without work authorization.

RESTORING BANKING INTEGRITY: President Trump is taking action to restore integrity to America’s financial system, cracking down on illicit activity that threatens national security and ending the extension of credit to high-risk borrowers that American citizens are forced to subsidize.

• Gaps in customer identification practices have allowed terrorists, drug traffickers, money launderers, and other criminal networks to exploit U.S. financial institutions to move illicit funds and evade law enforcement.
  • Chinese money laundering networks have used U.S.-based accounts to launder over $312 billion for criminal organizations, including to finance human trafficking.
  • Financial trend analyses have uncovered hubs of illicit fentanyl-related financial activity in the United States tied to Mexico-based cartels.
• Extending mortgages, credit cards, and auto loans to illegal aliens who face potential removal or loss of wages creates structural credit risks that threaten the safety and soundness of the national banking system.
• Employers of illegal aliens may underreport wages and evade payroll taxes, distorting the income data that underpins credit underwriting and obscuring risk across the financial system.
• When banks are forced to absorb these elevated credit risks, the costs are passed on to American consumers in the form of higher fees and interest rates – restoring sound underwriting standards puts money back in the pockets of law-abiding Americans.

MAKING AMERICA THE FINANCIAL INNOVATION CAPITAL OF THE WORLD: President Trump is ensuring that America remains the global leader in financial innovation.

• President Trump signed an Executive Order to ensure that Federal regulators do not promote policies and practices that allow financial institutions to deny or restrict services based on political beliefs, religious beliefs, or lawful business activities, ensuring fair access to banking for all Americans.
• The Trump Administration ended Operation Choke Point 2.0 once and for all by working to end regulatory efforts that deny banking services to the digital assets industry.
• President Trump signed an Executive Order to ensure that every American preparing for retirement has access to funds that include investments in alternative assets.
• President Trump signed the GENIUS Act into law, a historic piece of legislation that will pave the way for the United States to lead the global digital currency revolution.

Source: United States White House

For years, the nation’s capital was allowed to decay — marred by crime, graffiti, and crumbling infrastructure — amid a bureaucratic acceptance of decline as inevitable. President Donald J. Trump rejected that surrender from Day One — and under his leadership, the Trump Administration is demonstrating that decline is a choice.

This week, the historic cascading fountain at Meridian Hill Park roared back to life after years of disrepair. What was once a stark symbol of all-too-common neglect now flows powerfully again as a visible emblem of rebirth in the heart of the city.

This is about far more than water and landscaping; it’s about rekindling national pride in the city that represents the American Republic. These projects signal a fundamental shift: a rejection of mediocrity and a renewed commitment to excellence in the place where our democracy is on display. It’s a signal to the world — and every citizen — that we will not settle for inferiority in the city that embodies our republic.

President Trump promised to Make America Great Again — and that includes making our capital beautiful, safe, and worthy of the greatest nation on Earth. Where past Administrations offered excuses and stagnation, the Trump Administration is delivering real results. Dozens of additional restoration, infrastructure, and beautification projects are now underway across Washington, D.C., as the nation prepares to celebrate its 250th anniversary on July 4, 2026.

Decline is a choice. President Trump is choosing action, beauty, strength, and pride.

Source: United States White House

America has built the world’s most powerful economy through the strength of our industries, the genius of our innovators, and the promise of fair and reciprocal trade.  During World Trade Week, we renew our commitment to expanding American prosperity through strong trade policies that once again put our workers, our businesses, and our Nation first.

For more than a century, America has dominated the global stage as the world’s leading economic superpower through our innovative spirit and advanced manufacturing, sustained by the grit and determination of the most productive workforce in history.  But as American workers and industries flourished, foreign competitors began to flood our markets with cheap imports while shutting out our producers at home.  For decades, gutless politicians handed away our prosperity in the name of free trade—undercutting our workers, hollowing out our factories, and weakening the industries that made our Nation great.  Weak leaders accepted the flight of American production overseas as the price of doing business with the world while freer markets never became fairer ones.

Under my leadership, the days of economic surrender are over.  No longer will American innovation be exploited by foreign nations who undermine our workers, steal our jobs, and weaken our supply chains.  That is why I have reestablished a trade policy that liberates America from unfair trade practices and reclaims our Nation’s wealth.  Through the use of strategic tariffs, my Administration has secured trillions of dollars in manufacturing investments, significantly decreased our trade deficit, and accelerated the return of production to our shores. 

In addition to these monumental victories, we have secured over 20 new trade deals with major world partners, opening new markets for American goods and strengthening our Nation’s position at the center of the global economy.  These deals mean more supply; a growing world demand for American products; and, ultimately, lower prices on the everyday goods Americans depend on—from groceries and building supplies to medicine and machinery.  American factories are reopening, American workers are returning to good-paying jobs, industries that were stripped from our communities are coming home, costs of living are dropping, and our Nation’s prosperity is flourishing. 

Together, we are proving to the world that the strength of America’s trade economy is back—and we are once again safeguarding our success, reasserting our economic independence, and putting the interests of the American people first.  America will continue to lead this new era of fair competition, innovation, and prosperity for our Republic for centuries to come.

Source: United States White House

HISTORIC LAUNCH TO LOWER DRUG PRICES FOR AMERICAN PATIENTS: Today, President Donald J. Trump announced an expansion of TrumpRx.gov to provide unprecedented price transparency and choice on generic medications that millions of Americans use every day.

• Beginning today, TrumpRx.gov will feature more than 600 generic medications.
• Americans will be able to clearly and transparently understand the most competitive cash prices of their medications without insurance middlemen, encouraging them to compare against co-pays offered by their insurance company.
• Patients will be able to compare the best cash prices available to them at their local pharmacies and through delivery options offered by various private pharmacy programs. Discounts offered by Amazon Pharmacy, Cost Plus Drugs, and GoodRx will be integrated into TrumpRx.gov.
  • These generic drugs and prices will be listed separately from the discounts on high-cost branded medications negotiated by President Trump through his Most-Favored-Nation drug price agreements.
• Common medications featured on TrumpRx.gov willinclude, but are not limited to: atorvastatin (a cholesterol medication), clopidogrel (a blood thinner), lisinopril (a medication for high blood pressure), and metformin (a diabetes medication).
• TrumpRx.gov will list some of the most popular and commonly-used everyday medications, but will not have offerings for controlled substances, drugs with FDA-mandated risk evaluation and mitigation strategies, and medications not commonly offered through direct-to-consumer channels.

DRIVING INNOVATION IN TRANSPARENCY AND COMPETITION: Today’s announcement marks a historic innovation in making the drug purchasing process more transparent, competitive, and simple for American patients.

• Currently, patients struggling to pay for their medications may not be aware of the numerous discount programs available to them.
• With today’s announcement, TrumpRx.gov becomes a central platform for patients to check the best cash price for their medications, which insured patients can easily compare against the price their insurance company is offering them.
• By listing each company’s discounts in one easily accessible place for patients to compare, TrumpRx.gov will drive greater cash price competition among the nation’s largest pharmacy discount companies.

DELIVERING ON PROMISES TO PUT AMERICAN PATIENTS FIRST: President Trump is delivering on promises to ensure American patients no longer pay high prices to subsidize low prices in the rest of the world, something the political establishment did not believe was possible.

• On May 12, 2025, President Trump signed an Executive Order titled: “Delivering Most-Favored-Nation Prescription Drug Pricing to American Patients” directing the Administration to take numerous actions to bring American drug prices in line with those paid by similar nations.
• On July 31, 2025, President Trump sent letters to 17 leading pharmaceutical manufacturers outlining the steps they must take to bring down the prices of prescription drugs in the United States to match the lowest price offered in other developed nations.
• Since September 30, 2025, President Trump has announced 17 deals with major pharmaceutical manufacturers to bring prices in line with those paid in other developed nations, which will provide substantial price relief on numerous products taken by millions of Americans.
• On December 1, 2025, the Office of the United States Trade Representative, the Department of Commerce, and the Department of Health and Human Services announced an agreement with the United Kingdom (U.K.) that will increase the net price of new prescription drugs by 25% in the U.K., helping ensure that they pay their fair share for innovative medicines.
• On January 15, 2026, President Trump called on Congress to enact The Great Healthcare Plan, which would lower drug prices by codifying the savings from his Most-Favored-Nation pricing initiative, lower insurance premiums, hold insurance companies accountable, and maximize price transparency.
• On February 5, 2026, President Trump announced the launch of TrumpRx.gov, a platform through which cash-paying patients can directly access discounts negotiated by President Trump.

Source: United States White House

President Donald J. Trump’s America First agenda is delivering big returns for the American people — turning strategic government action into massive taxpayer gains while powering a record stock market boom.

In a new Fortune interview, President Trump spotlighted the groundbreaking Intel agreement he secured last year as a prime example of the market resurgence, giving taxpayers a direct equity stake in the iconic American company. In just eight months, the position has surged in value to more than $50 billion — a direct windfall for American taxpayers and a major boost for domestic manufacturing.

This success reflects the broader confidence unleashed since President Trump returned to office. Strong leadership, pro-growth policies, and robust protection of U.S. industry have driven the stock market to record territory, creating trillions in new wealth for families, retirees, workers, and businesses.

Key market milestones include:

• S&P 500: 57 record highs
• Nasdaq: 50 record highs
• Dow Jones Industrial Average: 26 record highs, including its first-ever close above 50,000
• NYSE Composite: 44 record highs

The Intel deal is not an isolated victory. It demonstrates that decisive action, smart trade policy, and prioritizing American workers and innovation are rebuilding national strength and generating real results for the American people.

President Trump is securing the best deals for America — and the results speak for themselves.

Source: United States White House

CONTRIBUTING TO PEACE AND PROSPERITY: This week, during the first visit of a U.S. President to the People’s Republic of China since 2017, President Donald J. Trump reached consensus with President Xi Jinping on several issues that will enhance stability and confidence for businesses and consumers around the world.

• President Trump and President Xi agreed that the United States and China should build a constructive relationship of strategic stability on the basis of fairness and reciprocity. President Trump will welcome President Xi for a visit to Washington this fall. The two countries will support each other as the respective hosts of the G20 and APEC Summits later this year. 
• Both leaders agreed Iran cannot have a nuclear weapon, called to reopen the Strait of Hormuz, and agreed that no country or organization can be allowed to charge tolls. 
• President Trump and President Xi confirmed their shared goal to denuclearize North Korea.

ESTABLISHING U.S.-CHINA BOARDS OF TRADE AND INVESTMENT: As the cornerstone of this historic agreement, President Trump and President Xi chartered two new institutions to optimize the bilateral economic relationship: the U.S.-China Board of Trade and the U.S.-China Board of Investment. 

• The Board of Trade will allow the United States Government and the Government of China to manage bilateral trade across non-sensitive goods.  
• The Board of Investment will provide a government-to-government forum for discussing investment-related issues.

DELIVERING FOR AMERICAN WORKERS, FAMERS, AND INDUSTRY: President Trump negotiated a sweeping package of commitments that will drive high-paying American jobs and open new markets for U.S. goods.

• China will address U.S. concerns regarding supply chain shortages related to rare earths and other critical minerals, including yttrium, scandium, neodymium, and indium. China will also address U.S. concerns regarding prohibitions or restrictions on the sale of rare earth production and processing equipment and technologies.
• China approved an initial purchase of 200 American-made Boeing aircraft for Chinese airlines. This tranche of aircraft – China’s first commitment to purchase American-made Boeing aircraft since 2017 – will drive high-paying, high-skilled U.S. manufacturing jobs and enable the Chinese people to fly on American-made planes for decades to come. 
• China will purchase at least $17 billion per year of U.S. agricultural products in 2026 (prorated), 2027, and 2028, in addition to the soybean purchase commitments that it made in October 2025.
• China restored market access for U.S. beef by renewing expired listings of more than 400 U.S. beef facilities and adding new listings.  China will work with U.S. regulators to lift all suspensions of U.S. beef facilities.
• China resumed imports of poultry from U.S. states determined by the USDA to be free of highly pathogenic avian influenza.

Source: United States White House

America’s fighting force stands as the most powerful, accomplished, and courageous military the world has ever known.  On Armed Forces Day, we salute the men and women proudly serving in the Army, Navy, Air Force, Marine Corps, Coast Guard, and Space Force—the courageous heroes who stand as the steadfast protectors of our Republic’s security and sovereignty. 

As we celebrate 250 glorious years of American independence this year, we acknowledge that our precious freedom, enjoyed and embraced by generation after generation, has been secured for all citizens by the providence and grace of Almighty God and the service and sacrifice of every member of our military.  Throughout the history of our Republic, America’s warriors have always answered the call to protect our way of life without failure or retreat.

Day after day, at home and abroad, the inspiring valor and professionalism of our joint forces are on display.  No other military in the history of the world can rival their unrelenting effort and supreme dominance in all domains—land, sea, air, space, and cyberspace.  America remains a beacon of liberty because of the steadfast devotion, incredible resolve, and unparalleled lethality of those who wear our Nation’s uniform and willingly put their lives on the line to safeguard our history, our constitutional heritage, and our freedom.

As Commander in Chief, I vow to always stand with our warfighters.  When duty calls, America’s defenders answer without hesitation—and under my leadership, they will always have the resources, equipment, and training they need to achieve decisive victory on any field of battle.  

America’s valiant warriors are the foundation of our peace and prosperity.  On this day, and every day, the First Lady joins me in saluting our Armed Forces and their faithful families, to whom we are eternally indebted.

Source: United States White House

Today, we celebrate the 222nd anniversary of the Lewis and Clark Expedition, the moment when American pioneers Meriwether Lewis and William Clark, together with their team of explorers, embarked on a daring expedition into the American West, testing the limits of human endurance and forever altering the very destiny of our Nation.  

With the promise of expansion before our young Republic, President Thomas Jefferson commissioned the Corps of Discovery in 1803, a small but fierce military unit tasked with exploring the vast lands of the newly acquired Louisiana territory.  Their journey would assert American sovereignty over this new land and establish our Nation’s presence from the banks of the Mississippi River to the shores of the Pacific Ocean.  

Led by Captain Meriwether Lewis and Lieutenant William Clark, these determined explorers began their historic mission on May 14, 1804, departing from Camp Dubois in the Illinois country.  With unwavering grit and steadfast devotion to their mission, these brave men journeyed up the mighty Missouri River, crossed the towering Rocky Mountains under extreme conditions, and followed the Columbia River to the Pacific coast. 

Along the way, they carefully documented the wildlife, plant species, and geography of a vast and largely unknown continent, producing maps that would guide generations of future Americans westward.  With the indispensable assistance of guides and interpreters—most notably Sacagawea and her baby, affectionately named by Clark as “Little Pomp”—they forged essential relationships with Native American Tribes that helped make their success possible.

In November of 1805, after nearly a year and a half of relentless travel, the Corps of Discovery reached the Pacific Ocean, an extraordinary achievement that expanded the boundaries of human knowledge and proved the existence of a continental passage to the western seas.  Their successful return in September of 1806 secured their place among the greatest expeditions in world history. 

Their discoveries unlocked the American West and showed a young Nation that there was no frontier too vast, no wilderness too challenging, and no dream beyond reach.  Through their unmatched courage and perseverance, Lewis and Clark forged the pioneering spirit that drove millions of Americans westward, fulfilling our Manifest Destiny and carrying the promise of prosperity to the far corners of our continent.

As we commemorate the anniversary of Lewis and Clark’s Expedition and celebrate 250 years of American independence, we honor the generations of Americans who pushed the limits of possibility and expanded the boundaries of our Republic.  Together, we renew our enduring commitment to pursuing new frontiers of innovation and greatness, honoring the bold spirit of those who came before us, and ensuring that America remains strong, prosperous, and free for generations to come.

Source: United States White House

Today, Melania and I join with many Christians in the United States and all around the world who are celebrating the memorial feast day of the Ascension of Jesus into Heaven.

Forty days ago, the world celebrated the miracle of Easter, when Jesus rose from the dead following His death on the Cross.  On the Feast of the Ascension, we celebrate yet another great miracle:  His bodily departure from Earth and return to His Father in Heaven.

On this special day, we are reminded that, for millions of Americans, the love of Christ gives our lives—and our country—the deepest meaning, purpose, and identity.  As we celebrate 250 years of American freedom and independence, we remember that America remains a great Nation because the United States has always been a Nation blessed by God.