Donald Trump has left St John’s Episcopal Church in Washington DC after attending a prayer service ahead of his inauguration as the 47th president of the United States.
The 78-year-old’s arrival at the historic church, located across from the White House, was his first public appearance on Monday as he prepared to return to the White House.
He is set for a momentous day as millions of people around the world watch on.
Mr Trump arrived at the prayer service, a tradition for president-elects on inauguration day, with his wife Melania at around 8.45am local time (1.45pm UK time).
They sat in the front row with their son Barron, 18, to their left, and incoming vice president JD Vance and his wife Usha to their right.
Former British prime minister Boris Johnson, Facebook chief executive Mark Zuckerberg and Amazon boss Jeff Bezos were also spotted sitting in the same row as each other in the church.
Image: President-elect Donald Trump, Melania Trump and their son Barron walk to their seats. Pic: AP
Image: President-elect Donald Trump talks with Vice President-elect JD Vance and Usha Vance before the service. Pic: AP
The service lasted around 30 minutes.
Afterwards, Mr Trump returned to Blair House, often referred to as the “President’s Guest House”, where he stayed on Saturday and Sunday.
The Republican is hours away from being sworn in as president for a second time after he defeated Democratic candidate and vice president Kamala Harris in the US presidential election in November.
Before the ceremony inside the Capitol Rotunda, he will meet with outgoing president Joe Biden and his wife Jill for tea at the White House at around 9.45am local time (2.45pm UK time).
Mr Trump will be joined by incoming first lady Melania for the tea, which is traditionally held on inauguration day to welcome the new president.
The meeting offers a stark contrast to four years ago, when Mr Trump refused to acknowledge Mr Biden’s election victory or attend his inauguration.
This time around, the incoming and outgoing presidents will travel in the same car as they join a motorcade to depart for the Capitol at around 10.25am local time (3.25pm UK time).
Image: Donald Trump, left, and Joe Biden at the White House in November last year. Pic: Reuters
Mr Trump, who will become only the second president to serve two non-consecutive terms, is expected to arrive at the Capitol around five minutes later.
Mr Vance is expected to be sworn in at 11.25am local time (4.25pm UK time).
The 40-year-old will take the oath read by Supreme Court Justice Brett Kavanaugh on a bible given to him by his great-grandmother.
Mr Trump is expected to take the oath at around 11.40am local time (4.40pm UK time).
Image: The US Capitol building ahead of the inauguration. Pic: Reuters
He will use both a family Bible and the one used by President Abraham Lincoln at his 1861 inauguration as chief justice John Roberts administers his oath.
Mr Trump will then deliver his inaugural address, which is expected to last just over 30 minutes and will likely be watched by millions of people across the world.
The ceremony will take place inside the Capitol Rotunda after it was moved indoors because of what is forecast to be the coldest inauguration day in 40 years.
It is not clear how the ceremony will be adapted to the setting, but only a fraction of the originally expected crowd will be allowed in.
Former presidents Barack Obama, Bill Clinton and George W. Bush will be in attendance, in keeping with former incumbents of the White House attending inauguration day.
Neither gave an explanation as to why they were skipping the ceremony.
Image: Organisers prepare the Capitol Rotunda for the swearing-in ceremony. Pic: AP
A cadre of billionaires and tech titans who have sought to curry favour with Mr Trump and have donated handsomely to his inaugural festivities, including Elon Musk, Mark Zuckerberg and Jeff Bezos, will also be in attendance.
Following Mr Trump’s inaugural address, there will be a ceremonial farewell to Mr Biden and Ms Harris at 12.40pm local time (5.40pm UK time).
Mr Trump and Mr Vance will head to the President’s Room just off the Senate Chamber in the US Capitol for a signing ceremony watched by members of Congress at around 12.50pm local time (5.50pm UK time).
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1:10
Trump shows off his dance moves
An hour later the new president and vice president will attend a luncheon at Statuary Hall in the US Capitol hosted by the Joint Congressional Committee on Inaugural Ceremonies.
Mr Obama, Mr Clinton and Mr Bush will not attend the luncheon despite receiving invites, Sky News’ US partner network NBC News has reported.
At around 3.50pm local time (8.50pm UK time), Mr Trump and the new first lady will travel to the Capitol One Arena for the parade celebrations to start.
Image: JD Vance is preparing to be sworn in as vice president. Pic: AP
The original plan for a traditional parade down Pennsylvania Avenue has been turned into an indoor event because of the cold.
Mr Trump will speak to his gathered supporters at the arena, where many of the people who had planned to watch the swearing-in ceremony outside will have watched a live broadcast of the inauguration instead.
The event is expected to feature remarks from Mr Trump and marching bands.
The new president will then head to the White House for an Oval Office signing ceremony at 5pm local time (10pm UK time).
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During Mr Trump’s speech on Sunday, he promised to sign close to 100 executive orders on his first day in office, including repealing “every radical and foolish executive order of the Biden administration”.
Country music band Rascal Flatts and country singer Parker McCollum will perform at the Commander in Chief Inaugural Ball, which is geared toward military service members.
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1:10
Trump shows off his dance moves
Meanwhile, the US rapper Nelly and disco band The Village People are scheduled to appear at the Liberty Inaugural Ball which is geared towards Mr Trump’s supporters.
Singer-songwriter Gavin DeGraw will perform at the Starlight Ball, at which guests are expected to be big donors of the incoming president.
Mr Trump’s return to the White House marks a stunning comeback after he overcame criminal indictments and two assassination attempts to regain the presidency.
It also comes after he lost the 2020 election, before denying his defeat and attempting to cling on to power.
He directed his supporters to march on the Capitol while legislators were certifying the election results, sparking a riot that interrupted the country’s traditional peaceful transfer of power.
Global financial markets gave a clear vote of no-confidence in President Trump’s economic policy.
The damage it will do is obvious: costs for companies will rise, hitting their earnings.
The consequences will ripple throughout the global economy, with economists now raising their expectations for a recession, not only in the US, but across the world.
While the UK’s FTSE 100 closed down 1.55% and the continent’s STOXX Europe 600 index was down 2.67% as of 5.30pm, it was American traders who were hit the most.
All three of the US’s major markets opened to sharp losses on Thursday morning.
Image: The S&P 500 is set for its worst day of trading since the COVID-19 pandemic. File pic: AP
By 8.30pm UK time (3.30pm EST), The Dow Jones Industrial Average was down 3.7%, the S&P 500 opened with a drop of 4.4%, and the Nasdaq composite was down 5.6%.
Compared to their values when Donald Trump was inaugurated, the three markets were down around 5.6%, 8.7% and 14.4%, respectively, according to LSEG.
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Worst one-day losses since COVID
As Wall Street trading ended at 9pm in the UK, two indexes had suffered their worst one-day losses since the COVID-19 pandemic.
The S&P 500 fell 4.85%, the Nasdaq dropped 6%, and the Dow Jones fell 4%.
It marks Nasdaq’s biggest daily percentage drop since March 2020 at the start of COVID, and the largest drop for the Dow Jones since June 2020.
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5:07
The latest numbers on tariffs
‘Trust in President Trump’
White House press secretary Karoline Leavitt told CNN earlier in the day that Mr Trump was “doubling down on his proven economic formula from his first term”.
“To anyone on Wall Street this morning, I would say trust in President Trump,” she told the broadcaster, adding: “This is indeed a national emergency… and it’s about time we have a president who actually does something about it.”
Later, the US president told reporters as he left the White House that “I think it’s going very well,” adding: “The markets are going to boom, the stock is going to boom, the country is going to boom.”
He later said on Air Force One that the UK is “happy” with its tariff – the lowest possible levy of 10% – and added he would be open to negotiations if other countries “offer something phenomenal”.
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How is the world reacting to Trump’s tariffs?
Economist warns of ‘spiral of doom’
The turbulence in the markets from Mr Trump’s tariffs “just left everybody in shock”, Garrett Melson, portfolio strategist at Natixis Investment Managers Solutions in Boston, told Reuters.
He added that the economy could go into recession as a result, saying that “a lot of the pain, will probably most acutely be felt in the US and that certainly would weigh on broader global growth as well”.
Meanwhile, chief investment officer at St James’s Place Justin Onuekwusi said that international retaliation is likely, even as “it’s clear countries will think about how to retaliate in a politically astute way”.
He warned: “Significant retaliation could lead to a tariff ‘spiral of doom’ that could be the growth shock that drags us into recession.”
It comes as the UK government published a long list of US products that could be subject to reciprocal tariffs – including golf clubs and golf balls.
Running to more than 400 pages, the list is part of a four-week-long consultation with British businesses and suggests whiskey, jeans, livestock, and chemical components.
Meanwhile, Prime Minister Sir Keir Starmer said on Thursday that the US president had launched a “new era” for global trade and that the UK will respond with “cool and calm heads”.
It also comes as Canadian Prime Minister Mark Carney announced a 25% tariff on all American-imported vehicles that are not compliant with the US-Mexico-Canada trade deal.
He added: “The 80-year period when the United States embraced the mantle of global economic leadership, when it forged alliances rooted in trust and mutual respect and championed the free and open exchange of goods and services, is over. This is a tragedy.”
Tanking stock markets, collapsing world orders, devastating trade wars; economists with their hair ablaze are scrambling to keep up.
But as we try to make sense of Donald Trumps’s tariff tsunami, economic theory only goes so far. In the end this surely is about something more primal.
Power.
Understanding that may be crucial to how the world responds.
Yes, economics helps explain the impact. The world’s economy has after all shifted on its axis, the way it’s been run for decades turned on its head.
Instead of driving world trade, America is creating a trade war. We will all feel the impact.
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PM will ‘fight’ for deal with US
Donald Trump says he is settling scores, righting wrongs. America has been raped, looted and pillaged by the world trading system.
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But don’t be distracted by the hyperbole – and if you think this is about economics alone, you may be missing the point.
Above all, tariffs give Donald Trump power. They strike fear into allies and enemies, from governments to corporations.
This is a president who runs his presidency like a medieval emperor or mafia don.
It is one reason why since his election we have seen what one statesman called a conga line of sycophants make their way to the White House, from world leaders to titans of industry.
The conga line will grow longer as they now redouble their efforts hoping to special treatment from Trump’s tariffs. Sir Keir Starmer among them.
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President Trump’s using similar tactics at home, deploying presidential power to extract concessions and deter dissent in corporate America, academia and the US media. Those who offer favours are spared punishment.
His critics say he seeks a form power for the executive or presidential branch of government that the founding fathers deliberately sought to prevent.
Whether or not that is true, the same playbook of divide and rule through intimidation can now be applied internationally. Thanks to tariffs
Each country will seek exceptions but on Trump’s terms. Those who retaliate may meet escalation.
This is the unforgiving calculus for governments including our own plotting their next moves.
The temptation will be to give Trump whatever he wants to spare their economies, but there is a jeopardy that compounds the longer this goes on.
Image: Could America’s traditional allies turn to China? Pic: AP
Malcolm Turnbull, the former Australian prime minister who coined the conga line comparison, put it this way: “Pretty much all the international leaders I have seen that have sucked up to Trump have been run over. The reality is if you suck up to bullies, whether it’s global affairs or in the playground, you just get more bullying.”
Trading partners may be able to mitigate the impact of these tariffs through negotiation, but that may only encourage this unorthodox president to demand ever more?
Ultimately the world will need a more reliable superpower than that.
In the hands of such a president, America cannot be counted on.
When it comes to security, stability and prosperity, allies will need to fend for themselves.
And they will need new friends. If Washington can’t be relied on, Beijing beckons.
America First will, more and more, mean America on its own.