Donald Trump on McKinley's tariffs, Gulf of Mexico and Panama Canal

America will reclaim its rightful place as the greatest, most powerful, most respected nation on earth, inspiring the awe and admiration of the entire world. 

A short time from now, we are going to be changing the name of the Gulf of Mexico to the Gulf of America — (applause) — and we will restore the name of a great president, William McKinley, to Mount McKinley, where it should be and where it belongs. (Applause.) 

President McKinley made our country very rich through tariffs and through talent — he was a natural businessman — and gave Teddy Roosevelt the money for many of the great things he did, including the Panama Canal, which has foolishly been given to the country of Panama after the United States spent more money than ever spent on a project before and lost 38,000 lives in the building of the Panama Canal.

~ Donald J. Trump, 47th president of the United States, inaugural address, January 20, 2025