Who Will Donald Trump Choose as Treasury Secretary? A Look at the Top Contenders
President-elect Donald Trump has announced key members of his Cabinet, including the secretaries of state and defense, but he has yet to name a treasury secretary—a pivotal role in shaping the nation’s economic policies. Whoever is selected will need Senate confirmation before taking charge of economic, tax, and financial policy.
Trump's 2024 campaign emphasized economic reforms, including price reductions and tariffs aimed at boosting domestic manufacturing. His proposal for tariffs—up to 20% on all imports and as high as 100% on Chinese goods—has been both praised by American manufacturers and criticized by economists warning of inflationary risks and potential trade retaliation.
Here are the leading candidates:
Scott Bessent
CEO of Key Square Capital Management and former chief investment officer for Soros Fund Management.
A strong advocate of Trump's economic strategies, including deregulation, energy production, and tariffs.
Known for bipartisan ties, having supported Democratic candidates in the past.
Resides in Charleston, South Carolina, with his husband and two children.
Howard Lutnick
Billionaire CEO of Cantor Fitzgerald and a close Trump ally.
Supports Trump's policies on tariffs, cryptocurrency, and immigration reform.
Deeply affected by the 9/11 attacks, which killed 658 of his employees, including his brother.
Active in Trump’s transition team and a vocal supporter of pro-Israel policies.
John Paulson
Hedge fund manager famous for predicting the 2007 subprime mortgage crisis.
A staunch supporter of Trump's tariff strategy and advocate for privatizing Fannie Mae and Freddie Mac.
Has expressed confidence in Trump's vision of an "American manufacturing powerhouse."
Robert Lighthizer
Former U.S. trade representative under Trump, known for renegotiating NAFTA and initiating the U.S.-China trade war.
Advocates for policies that prioritize American jobs over free trade efficiency.
A seasoned international trade lawyer with decades of experience in trade policy.
Kevin Warsh
Former Federal Reserve governor and economic policy advisor under President George W. Bush.
A respected academic affiliated with Stanford University and Hoover Institution.
May have differing views on Trump's "America First" economic agenda, based on past opposition to protectionist policies.
Marc Rowan
CEO and co-founder of Apollo Global Management, with nearly $700 billion in assets under management.
Praised Trump's leadership team and Elon Musk’s involvement in the new administration.
Known for his ties to nonpartisan fiscal policy research and expertise in investment banking.
As speculation swirls, Trump’s choice will signal his administration's priorities for addressing economic challenges, from trade policy to fiscal reform.
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