Steven Mnuchin Speaks Out: Advising on Sanctions, Deficits, and U.S. Economic Strategy

Former Treasury Secretary Steven Mnuchin stated he will not join the new administration but is ready to offer advice on sanctions and U.S. debt control. Mnuchin emphasized the importance of cohesive economic policies and suggested bolstering U.S. sanctions and domestic energy production to stabilize international markets.

Steven Mnuchin, former Treasury secretary under Donald Trump, announced he will not join the president-elect's administration, opting instead to provide strategic counsel from outside the government. He aims to advise on strengthening U.S. sanctions against Iran and Russia while managing the country's rising debt levels.

In an exclusive interview with Reuters, Mnuchin stressed the need for a coherent U.S. trade policy, pointing to Beijing's alleged failure to meet American goods purchase commitments from the January 2020 Phase One trade agreement. He described his previous role as Treasury chief under Trump as immensely fulfilling and expressed willingness to continue offering external guidance.

Mnuchin highlighted the necessity for Trump's economic team, including the Treasury, Commerce Department, U.S. Trade Representative, and White House National Economic Council, to maintain cohesive operations. He underlined the importance of sanctions enforcement and increasing U.S. domestic energy production to mitigate the impact of sanctions on international oil supply, calling for a balance between tax cuts and spending controls to manage the deficit effectively.

(With inputs from agencies.)