Steven Mnuchin, former Treasury Secretary in Donald Trump’s Cabinet from 2017 to 2021 and founder of Liberty Strategic Capital, anticipates a potential return to Trump-era economic policies, including tariffs, tax cuts, and sanctions.
In a recent CNBC interview, Mnuchin emphasized the significance of these policies to the Republican agenda. He highlighted tax cuts as a cornerstone of Trump’s economic strategy and expressed confidence in their passage through Congress, mainly if Republicans secure control of the House.
Mnuchin also expects tariffs to be placed, which is reminiscent of Trump’s first term. He advocated for their use as a tool to ensure compliance from trading partners, with a particular focus on China.
Mnuchin foresees renewed sanctions on adversarial nations like Iran and Russia. He recalled Trump’s 2019 sanctions on Iranian oil producers linked to the Revolutionary Guard. He stressed the need to halt Iran’s current oil sales, which he claims amount to millions of barrels.
While Mnuchin anticipates Trump addressing other issues, such as the ballooning fiscal deficit, he clarified that he would not assume an official role in a potential Trump administration but is open to offering external support.
According to sources from the Washington Post, Republicans are targeting significant legislative achievements within Trump’s first hundred days in office. This includes potentially making the temporary tax cuts from Trump’s first term permanent, which lowered income tax rates and reduced the corporate tax rate to 21%.
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