President-elect Donald Trump is expected to focus on key aspects of his economic platform once he takes office in January, according to his former Treasury Secretary Steven Mnuchin. Mnuchin, who served in the role during Trump’s first term from 2017-2021, highlighted that Trump’s agenda will likely include tax cuts, tariffs, and sanctions.
Tax cuts have been a significant part of Trump’s program, with Mnuchin emphasizing that they should be relatively easy to pass in Congress, especially if Republicans control the House. Tariffs, which Trump previously implemented on various items and promised to do again, are seen as necessary to bring other countries like China back to the negotiating table.
Mnuchin also mentioned that sanctions against nations like Iran and Russia are expected to make a comeback. The Trump administration had imposed sanctions on Iranian petroleum producers in 2019 due to their ties to the Revolutionary Guard. Mnuchin believes that these sanctions were impactful and need to be reinstated to address issues like Iran’s oil sales.
In addition to these key economic issues, Mnuchin indicated that Trump may also address concerns related to deficit spending. Despite not planning to take an official role in the administration, Mnuchin expressed his willingness to support Trump’s agenda from the outside.
With the recent election results providing a strong mandate, Mnuchin believes that Trump is well-positioned to tackle challenging issues, including government spending. While Mnuchin’s own role may be from a distance through his firm Liberty Strategic Capital, he remains optimistic about Trump’s ability to address important economic matters in the coming term.
Overall, Trump’s focus on tax cuts, tariffs, sanctions, and deficit spending reflects a continuation of his previous economic priorities, as outlined by Mnuchin in his recent comments to CNBC.
