--- description: Steven Mnuchin confirmed Wednesday that he is President-elect Donald Trump's choice for Treasury secretary title: Donald Trump Taps Steven Mnuchin and Wilbur Ross for Treasury, Commerce image: https://static.time.com/v3/assets/bltea6093859af6183b/blt5dacd748af1eb8e5/6988b005f887dc35ade98591/mnuchin-trump.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  * [Politics](/section/politics/) ## Politics Update your preferences in [Account Settings](/account/preferences/) Close * [White House](/tag/white-house/) ## White House Update your preferences in [Account Settings](/account/preferences/) Close # Donald Trump Taps Steven Mnuchin and Wilbur Ross for Treasury, Commerce  by [Katie Reilly](/author/katie-reilly/)  ## Katie Reilly Update your preferences in [Account Settings](/account/preferences/) Close Updated: Dec 15, 2023 12:33 AM CUTPublished: Nov 30, 2016 12:44 PM CUT  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](/author/katie-reilly/)  ## Katie Reilly Update your preferences in [Account Settings](/account/preferences/) Close Updated: Dec 15, 2023 12:33 AM CUTPublished: Nov 30, 2016 12:44 PM CUT Steven Mnuchin said Wednesday that he is [President-elect Donald Trump’s](http://time.com/4585260/donald-trump-twitter-recount/ "undefined") choice for [Treasury secretary](http://time.com/4585637/donald-trump-steven-mnuchin-treasury-secretary/ "undefined"), 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 "undefined"). 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/ "undefined") 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/ "undefined"), 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. Please refresh for updates_ ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/4585879/donald-trump-steven-mnuchin-wilbur-ross-treasury-commerce/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/4585879/donald-trump-steven-mnuchin-wilbur-ross-treasury-commerce/"},"headline":"Donald Trump Taps Steven Mnuchin and Wilbur Ross for Treasury, Commerce","datePublished":"2016-11-30T12:44:10.000Z","dateModified":"2023-12-15T00:33:38.000Z","description":"They confirmed their respective nominations in an interview on Wednesday","url":"https://time.com/4585879/donald-trump-steven-mnuchin-wilbur-ross-treasury-commerce/","keywords":["White House","Donald Trump"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt5dacd748af1eb8e5/6988b005f887dc35ade98591/mnuchin-trump.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Katie Reilly","jobTitle":null,"url":"https://time.com/author/katie-reilly/"}],"articleSection":"Politics","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt5dacd748af1eb8e5/6988b005f887dc35ade98591/mnuchin-trump.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"US-VOTE-TRUMP","caption":"US-VOTE-TRUMP","creditText":"Eduardo Munoz Alvarez—AFP/Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/politics/","name":"Politics"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/white-house/","name":"White House"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/4585879/donald-trump-steven-mnuchin-wilbur-ross-treasury-commerce/","name":"Donald Trump Taps Steven Mnuchin and Wilbur Ross for Treasury, Commerce"}}]}] ```