President-elect Donald Trump is expected to focus on key elements of his previous economic agenda, including tariffs, tax cuts, and sanctions, when he assumes office in January, according to his former Treasury secretary, Steven Mnuchin. Mnuchin, who served in the position during Trump’s first term from 2017-2021, emphasized the importance of these aspects to the Republican agenda.
In an interview on CNBC’s “Squawk Box,” Mnuchin highlighted tax cuts as a significant component of Trump’s program, expressing confidence in their passage through Congress, especially if Republicans maintain control of the House. Additionally, Mnuchin mentioned that tariffs, a tool Trump utilized during his first term, would likely be employed again to bring trading partners, particularly China, back to the negotiating table.
Mnuchin also indicated that sanctions against countries like Iran and Russia would be reinstated. He cited the effectiveness of previous sanctions on Iran and Russia, emphasizing the need to prevent Iran from selling large quantities of oil. Despite not expecting to hold an official role in the Trump administration, Mnuchin expressed willingness to support from outside.
Looking ahead, Mnuchin anticipates that Trump will address issues such as deficit spending, leveraging the strong electoral outcome to tackle challenging matters within government expenditure. Mnuchin, who is the founder of Liberty Strategic Capital, believes that Trump is well-positioned to confront these issues effectively.
