Clifford Chance

On February 21, the U.S. District Court of Maryland issued a nationwide preliminary injunction against certain provisions of President Trump’s recent executive orders targeting Diversity, Equity, and Inclusion ("DE&I") programming (which we had written about here). Specifically, the injunction blocks three key provisions within Executive Orders 14173 and 14151 that require (1) agencies to terminate “equity-related” grants or contracts; (2) federal contractors or fund grantees to certify that they are not operating unlawful programs that “promote” DE&I; and (3) that the U.S. Attorney General “encourage” the private sector to end DE&I initiatives under threat of enforcement. In so ruling, the court found that the challenged provisions were likely unconstitutionally vague and restrictive of free speech. Read more about the temporary blocks on key provisions from Trump's DE&I Executive Orders.

On February 18, 2025, President Trump issued an executive order, “Ensuring Accountability for All Agencies”, aimed at increasing Presidential supervision and control over executive agencies. It is likely that the All Agencies EO will face legal challenges, primarily because many of the agencies covered by the order are expressly designated as “independent” by statute. Read more about the executive order expanding presidential power over independent regulatory authorities.

On February 21, 2025, the White House released the America First Investment Policy National Security Presidential Memorandum ("NSPM"), a policy directive which includes potential significant changes to the Committee on Foreign Investment in the United States ("CFIUS") process and the new US Outbound Investment Security Program ("OIP"). The NSPM also indicates that the Trump Administration may take additional measures to deter investment in the People's Republic of China ("PRC") military-industrial sector, including, for example, economic sanctions. Read more about the new Trump Policy that Signals Significant Changes to CFIUS and the New Outbound Investment Security Program.

During its final weeks in office, the Biden Administration issued various regulations to strengthen American leadership in artificial intelligence. These actions included an Executive Order directing federal agencies to lease sites for the development of frontier AI infrastructure and an Executive Order requiring government vendors and cloud providers to apply specific cybersecurity safeguards, while launching a new AI cyber defense pilot program. Read more about Framework for Artificial Intelligence Diffusion: A Step Forward for US Security and Economic Strength in the Age of AI

From his first day in office, President Trump has issued a nonstop stream of executive orders, many of which affect international trade. In this extract from a recent Clifford Chance webinar, we look at the Trump administration's America First Trade Policy and its early-days impact on tariffs, sanctions, export controls, CFIUS and US outbound investment. We also explore the expected impact on businesses, supply chains and enforcement risks. Read more about international trade under the Trump administration - what to expect.

Changes in presidential administrations typically result in changes in corporate criminal enforcement priorities. On February 5, 2025, shortly after her confirmation, Attorney General Pamela Bondi issued over a dozen memoranda regarding the Department of Justice's priorities under the Trump administration.  The scope and sweep of these memoranda—which address every issue from immigration enforcement to the January 6th prosecutions to national security—are unprecedented.  Further, on February 10, 2025, President Trump signed an Executive Order pausing enforcement of the Foreign Corrupt Practices Act.  These developments foreshadow significant changes to the DOJ's corporate criminal priorities.  Outlined below are five predictions about the effect of the Trump administration's new policies. Read more about the DOJ's new direction - predictions for Corporate Enforcement Priorities in the Trump Administration.

The first week of Donald Trump's second Presidency has been nothing short of extraordinary in many respects, including its implications for the tech sector. January 20, 2025, Trump's first day in office, saw a whirlwind of activity: the President issued a Presidential Statement, revoked 78 Executive Orders and Presidential Memoranda and issued 26 Executive Orders and an America First Trade Policy. During the remainder of the week, Trump signed seven additional Executive Orders and announced a US$500 billion joint venture for infrastructure tied to AI. These activities occurred in the context of key global developments, including the World Economic Forum in Davos and breaking news about a Chinese AI developer, DeepSeek.

This briefing provides an overview of key tech-related developments during the second Trump administration's first seven days: what's out, what's in and what's still in. We will provide in-depth analyses and updates as these developments continue to evolve. Read more about President Trump's first seven days in office.

Recent global developments accelerating the push for geographical diversification of semiconductor production include positioning Mexico as a primary destination for the chip manufacturing industry over the next decade. Companies will seek to take advantage of recently announced tax incentives, an abundance of low labor costs and proximity to the U.S. as they advance nearshoring agendas. Read more about Mexico's plans to develop its semiconductor industry: challenges and opportunities. 

As expected, President Trump signed several Executive Orders focused on Diversity Equity and Inclusion ("DE&I") within the first days of his new presidency.  While the focus is largely on terminating DE&I programs and initiatives within and related to the Federal Government, significantly, there are two developments which squarely impact private companies who may be forced to pivot in their hiring and promotion criteria on threat of a civil rights discrimination investigation or disqualification from government contracts/tenders.  While the actual enforcement policy in practice has yet to emerge, companies should assess and understand their risks under this new civil rights policy, recognizing that the new policy may come under legal challenge. Read more about DE&I under the Trump administration – How far has the pendulum swung?.

On January 20, 2025, the first day of his second term, President Trump issued a Presidential Statement highlighting his administration's key priorities and signed 26 Executive Orders. The Presidential Statement outlines the Trump Administration's priorities, emphasizing a focus on domestic energy resources to "make America affordable and energy dominant again." This involves shifting away from the previous administration's policies, which took a more global approach to renewable energy, climate change, and vehicle emissions. The 26 Executive Orders signed on January 20th covered a range of topics, including immigration, the federal workforce, healthcare, taxation, and national security, with several aimed at overturning the Biden Administration's energy and environmental-focused policies.

This briefing provides a high-level overview of the energy and environmental-related priorities identified in the Presidential Statement and certain of the January 20th Executive Orders that are expected to have significant impacts on the energy and environmental sectors. We will provide more in-depth analysis as these initiatives develop. Read more about Trump's first day and the Presidential Statement and Executive Orders impacting the energy and environmental sectors.

While the debate over ESG has been bubbling in the United States for some time, the reelection of former president Donald Trump and the Republican sweep of Congress have given deregulatory forces control over the US federal legislative and administrative levers of power. This impending change – and the influence of prominent anti-ESG figures in the new administration – have led to forecasts of a broad rollback of federal ESG-related regulation in the coming year.

This briefing provides a high-level survey of potential areas for change, in environmental and climate regulation, the energy transition, antitrust, the workplace, and in the regulation of investors and asset managers. The field is complex and the direction of travel is unpredictable; this survey provides a snapshot of areas that likely will receive focus early in the new administration. Read more about what the new Trump administration could mean for ESG. 

This briefing provides an overview of how President-elect Donald Trump’s campaign promises may translate into policy reform, how potential policy reforms could impact energy subsectors, and how the market may progress despite policy changes.

Please note, the below analysis forecasts potential changes based on campaign promises made by Trump and his advisors and is subject to change.

Read more on forecasting the impacts of Trump's second administration on the energy sector.

This briefing provides an overview of how President-elect Donald Trump’s campaign promises may translate into policy reform and the potential impact on the tech sector and the many businesses that rely on it.

Please note that this analysis forecasts potential changes based on public statements by Trump and other officials and is subject to change.

Read more on forecasting the impact of Trump's second administration on the tech sector.