No matter where you stand politically, America's new president wants to put policies in place that are likely to have a major impact on taxes, regulation—and consumers' wallets.
President Donald Trump wants to spur economic growth by enacting a new tax plan that would reduce the current seven brackets down to three. When it comes to business, he wants to cut corporate tax rates from 35 percent to 15 percent.
On trade, President Trump has said on the campaign trail that the current deals are hurting American workers. He wants out of the Trans Pacific Partnership (TPP), which is a trade deal with Asia that has yet to be ratified. In addition, he wants to renegotiate the North American Free Trade Agreement (NAFTA), a deal enacted more than 2 decades ago with Canada and Mexico.
And with a Republican controlled House and Senate, it raises the question of how likely he'll be able to follow through on his campaign promises. Another open question is what impact those changes will have on individual consumers.
"He's going to start on the trade front and the immigration front with some of these executive orders," Politico's Senior Economic Correspondent Ben White told CNBC's "On the Money" in an interview.
"He'll start the process of building a wall with Mexico, he'll pull out of that TPP agreement right away, renegotiate NAFTA," White predicted. "The bigger ticket stuff, that's really going to impact Americans, that's going to take a longer period of time."