Steven Mnuchin might spend a lot of times on China, since he is to be expected as Trump Treasury Secretary, even though he is a film producer and investor with no government experience.
Reports say that a senior position in Trump’s administration disclose that Presented-elect Donald Trump will appoint Steven Mnuchin as Treasury Secretary, Tuesday afternoon. This was reported by the NYTimes, ABC and CBS news.
Mnuchin, a 17-year-old Goldman Sachs veteran, was best known for his role in buying up the assets of IndyMac, a failed California mortgage lender, and turning it into OneWest in 2008, reported by Buzzfeed.
In the near future the incoming Treasury Secretary will face a number of difficult issues, reports says. One sure thing is that he has to spent a lot of time in the area of China. Before the president-elect, both Bush and Obama administrations raised concerns routinely about China’s semi-fixed exchange rate. They both declined to label China a currency manipulator.
It’s reckoned that the incoming Treasury Secretary will likely operate as the Trump’s top financial and economic diplomat, thus taking part in the US-China Strategic and Economic Dialogue, which took place twice a year in the past two Treasury Departments.
According to Bloomberg markets, US-China relations are headed for a “wild ride” if President-elect Donald Trump fulfills a campaign promise to designate China as a currency manipulator and the Republican-led Congress imposes trade sanctions.
Steven Mnuchin in 90s
Even in May 2016, it was revealed that Steven Mnuchin would become the Trump campaign's national finance chair.
