Trump Treasury nominee casts doubt on Trump’s China policy

Steven Mnuchin, Donald Trump’s nominee as Secretary of the US Treasury, expressed disagreement with Trump’s promised China trade policy immediately after his  nomination announcement.

The nominations of Mnuchin, formerly a Goldman Sachs senior manager and then a film financier, and of Wilbur Ross (till recently, owner of International Textile Group) as Secretary of Commerce were announced around lunchtime on November 30.

Within hours, they were being interviewed live on business channel CNBC, and Mnuchin was asked about policy on China. A month earlier, Trump had committed that on his first day in office he would “direct the Secretary of treasury to declare China a currency manipulator”

Mnuchin clearly has different views. “There is enforcement aspects of trade agreements that are in Commerce and [there are] enforcement acts in Treasury” he said in a 5 pm interview that afternoon. “So if we determine that we need to label them as a currency manipulator, that’s something the Treasury would do.”

This is clearly not a man particularly concerned with his boss’ campaign promises.