Steven Mnuchin, the former Treasury Secretary, has now reportedly announced that he will not be joining President-elect Trump’s new administration.
Mnuchin stated to Reuters that the Treasury must strive to bolster U.S. trade policy, which includes ensuring that China adheres to its trade commitments from Trump’s 2020 trade agreement to rebalance trade.
He stated that he would offer guidance to the individual Trump selects, including recommendations on how to enhance sanctions against Russia and Iran and manage the country’s debt.
Reuters reported that Scott Bessent, the founder of Key Square Group, and John Paulson, a prominent hedge fund investor, had surfaced as the top candidates for the position of Treasury secretary.
It has been reported that Bessent has had a meeting with Trump.
Mnuchin declined to specify his own preferred pick for the upcoming administration.
Trump has now initiated the process of molding his administration with only 70 days remaining until his inauguration.
He has already selected Rep. Elise Stefanik (R-N.Y.) to serve as ambassador to the United Nations and nominated former Immigration and Customs Enforcement (ICE) Director Tom Homan as his border czar.
Additionally, Trump appointed veteran political consultant Susie Wiles as his chief of staff.
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