--- title: Donald Trump: Steven Mnuchin and Wilbur Ross Nominated description: Steven Mnuchin confirmed Wednesday that he is President-elect Donald Trump's choice for Treasury secretary canonical: https://time.com/4585879/donald-trump-steven-mnuchin-wilbur-ross-treasury-commerce/ author: Katie Reilly article:opinion: false article:content_tier: free article:published_time: 2016-11-30T12:44:10.000Z article:modified_time: 2023-12-15T00:33:38.000Z article:section: Politics og:title: Donald Trump Taps Steven Mnuchin and Wilbur Ross for Treasury, Commerce og:description: They confirmed their respective nominations in an interview on Wednesday og:url: https://time.com/4585879/donald-trump-steven-mnuchin-wilbur-ross-treasury-commerce/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt5dacd748af1eb8e5/6988b005f887dc35ade98591/mnuchin-trump.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 og:image:width: 2560 og:image:height: 1440 og:image:alt: US-VOTE-TRUMP og:type: article twitter:card: summary_large_image twitter:title: Donald Trump Taps Steven Mnuchin and Wilbur Ross for Treasury, Commerce twitter:description: They confirmed their respective nominations in an interview on Wednesday twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt5dacd748af1eb8e5/6988b005f887dc35ade98591/mnuchin-trump.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 ---  # Donald Trump Taps Steven Mnuchin and Wilbur Ross for Treasury, Commerce > Sponsored content. 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Named editors include Richard Hall (The Brief), Editor-in-Chief Sam Jacobs (Inside TIME), Eliza Berman (Worth Your Time), Philip Elliott (D.C. Brief), Justin Worland (Future Proof) and Harry Booth (In the Loop). Health Matters is written by TIME's health desk. #### How do I sign up for a TIME newsletter? Go to time.com/newsletters, choose the newsletters you want and enter your email address. There is no cost and no subscription requirement.  by [Katie Reilly](https://time.com/author/katie-reilly/)  ## Katie Reilly Updated: Dec 15, 2023 12:33 AM UTCPublished: Nov 30, 2016 12:44 PM UTC  Advisor Steven Mnuchin arrives at the Trump Tower for meetings with US President-elect Donald Trump, in New York on Nov. 17, 2016. Advisor Steven Mnuchin arrives at the Trump Tower for meetings with US President-elect Donald Trump, in New York on Nov. 17, 2016. Eduardo Munoz Alvarez—AFP/Getty Images  by [Katie Reilly](https://time.com/author/katie-reilly/)  ## Katie Reilly Updated: Dec 15, 2023 12:33 AM UTCPublished: Nov 30, 2016 12:44 PM UTC Steven Mnuchin said Wednesday that he is [President-elect Donald Trump’s](http://time.com/4585260/donald-trump-twitter-recount/) choice for [Treasury secretary](http://time.com/4585637/donald-trump-steven-mnuchin-treasury-secretary/), confirming his rumored nomination in an [interview on CNBC](http://www.cnbc.com/2016/11/30/exclusive-trumps-treasury-pick-says-i-want-to-slash-taxes-across-the-board.html). Mnuchin, who was the national finance chairman for Trump’s campaign, climbed the ranks at Goldman Sachs before becoming a financier for Hollywood movies. In the interview with CNBC, he said he will prioritize cutting corporate taxes. “By cutting corporate taxes, we’re going to create huge economic growth and we’ll have huge personal income,” he said. Mnuchin also talked about enforcing trade regulations with China, saying he would be willing to label China a “currency manipulator” if necessary—a subject that Trump raised repeatedly during his campaign, [blaming China](http://time.com/4509121/china-presidential-debate-hillary-clinton-donald-trump/) for stealing American jobs and devaluing its currency. Trump’s selection of someone with close ties to Wall Street appears to differ from the populist message on which he ran his campaign. Throughout the presidential race, Trump often criticized Hillary Clinton for giving [paid speeches to financial institutions](http://time.com/4207487/hillary-clinton-wall-street-speeches/), including Goldman Sachs, after she served as Secretary of State. Investor Wilbur Ross also confirmed to CNBC that he is Trump’s pick for Commerce secretary. Neither Mnuchin nor Ross has government experience, though they have been big political donors. Both will need to be officially confirmed by the Senate. _This is a breaking news story. 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