Former Treasury Secretary Steven Mnuchin said he will not be joining President-elect Trump's new administration, but will provide advice to those taking on the top Treasury role.
mnuchin told Reuters He said it is important that the Treasury Department works to strengthen U.S. trade policy, including by forcing China to honor its trade commitments under President Trump's 2020 agreement to rebalance trade.
The former cabinet member said serving in Trump's first administration was a “once-in-a-lifetime experience” and that Mnuchin would be “happy to give advice from the outside.”
He said whoever President Trump chooses will provide advice, including on how to tighten sanctions on Russia and Iran and rein in the nation's debt.
Reuters reported that two prominent hedge fund investors, Key Square Group founder Scott Bessent and John Paulson, have emerged as front-runners for Treasury secretary. Bessent reportedly met with Trump.
Mnuchin declined to name a favorite option for the incoming administration, but said he believes the Trump campaign has “a lot of great options.”
With 70 days left until President Trump's inauguration, the government has begun to form.
He nominated Congresswoman Elise Stefanik of New York to be ambassador to the United Nations and named former Immigration and Customs Enforcement (ICE) Commissioner Tom Homan as “border czar.” President Trump also selected veteran political consultant Susie Wiles to be his chief of staff.
