WASHINGTON — President Donald Trump delivered a bold inaugural address, stating his intentions to rename the Gulf of Mexico and reclaim control over the Panama Canal.

In his speech, Trump emphasized that under his leadership, the nation would no longer be “taken advantage of,” vowing to initiate an immediate “overhaul of our trade system,” which would involve imposing tariffs and taxes on foreign nations.

“The spirit of the frontier resides in our hearts. The call for the next grand adventure echoes within us,” Trump proclaimed from the Capitol Rotunda, as the inauguration was held indoors due to chilly weather conditions.

He asserted that prioritizing America would lead to the country being “respected again” during his second term as a global leader, while outlining a series of policy changes he intends to implement.

One of his proposals includes renaming the Gulf of Mexico to the Gulf of America, a plan he previously announced at a news conference earlier this month.

“America will take back its rightful position as the world’s greatest, most powerful, and most respected nation, inspiring admiration globally,” he stated. “Soon, we will change the name of the Gulf of Mexico to the Gulf of America and restore the name of a great president, William McKinley, to Mount McKinley where it rightfully belongs.”

This mountain in Alaska is currently known as Mount Denali, a name change made in 2015 by former President Barack Obama.

Trump also indicated in his speech that reclaiming the Panama Canal would become official policy.

“We have been poorly treated regarding this foolish gift that should have never been made, and Panama has broken its promise to us,” he asserted. “The original intent of our deal and the spirit of our treaty have been completely disregarded.”

The U.S. transferred control of the canal to Panama during the administration of Jimmy Carter, with Panama assuming full control in 1999.

Trump and his allies have raised concerns about the growing influence of China over the canal’s management and are looking for ways to regain control. “China is operating the Panama Canal, but we did not give it to them; we gave it to Panama, and we are taking it back,” Trump declared on Monday.

Though he did not elaborate on how the U.S. aims to reclaim the canal, Marco Rubio, his nominee for secretary of state, suggested during a confirmation hearing last week that the administration might argue that Panama violated the treaty governing the canal’s operation.

Rubio acknowledged at the hearing that the canal is not under direct Chinese ownership. “While formally, the sovereignty of the canal remains with Panama, in reality, foreign companies, which are not independent, have the capacity to turn the canal into a bottleneck during potential conflicts, posing a direct threat to U.S. interests and national security,” Rubio mentioned.

The involvement of Chinese shipping firms with the canal continues to be a source of frustration for Trump, especially since the U.S. financed its construction over a century ago.