President Trump’s campaign promises were top-of-mind during his first day in the Oval Office, and NBC 7 Responds kept an eye out for those that might affect your budget. Chief among them were the sweeping tariffs the candidate promised, specifically the 25% tariffs on goods coming in from Mexico, Canada and China that were supposed to come on Day 1 of his presidency. He held off on those, but when he was asked about them, he did say tariffs on Canada and Mexico could happen on Feb. 1. In theory, a new tariff could be paid by the producers and/or retailers to keep prices down. However, according to some experts, that’s a tough sell for private companies. “If they don’t have to — meaning: If there is no competitive pressure that requires them to — it is very unlikely to happen because their doctrine is to maximize shareholder value,” said Andreas Rauterkus, a professor of finances at California State University, San Marcos. On Monday, though, Trump did sign a directive for every federal agency to address the cost-of-living crisis and find ways to “Increase prosperity for the American worker.” However, experts told NBC 7, that directive can also prove difficult to implement since companies are not too enthusiastic about any plan that can hurt their bottom line. “Drill, baby, drill,” was the call made by Trump multiple times throughout his first day as president. He said the inflation crisis was caused by massive overspending and escalating energy prices. It should be noted, however, that the United States has been the largest producer of crude oil in the world for years, outpacing Saudi Arabia and Russia. He seems to want more as a way of strengthening the U.S. economy. While a call for more oil production received strong applause from his allies and followers, experts said it’s much more complicated and expensive to drill than people might think. The trick is figuring out how to produce more fuel and, in turn, lower gas prices and inflation. More infrastructure might be needed to accomplish this, and that takes time to build. The challenge with executive orders and executive memos is knowing which ones are realistic and which ones are aspirational. NBC 7 will certainly keep tracking them and how they may impact your balance sheet.