What Trump's administration nominees mean for the business world
Nov 14, 2024 - businessinsider.com
President-elect Donald Trump is rapidly forming his cabinet, with a focus on loyalty. His recent appointments include Matt Gaetz as US Attorney General, Marco Rubio as Secretary of State, and Pete Hegseth as Secretary of Defense. Gaetz, a controversial figure due to past sex-trafficking allegations, has been a critic of the tech industry and has resigned from Congress. Rubio, an outspoken critic of China, adds to the growing tension between the US and China. Hegseth, an Army veteran and Fox News host, has been critical of the US support of Ukraine and of women serving in combat roles.
The position of Treasury Secretary is yet to be filled, with Scott Bessent, a hedge fund executive, and Howard Lutnick, the co-chair of Trump's transition team and the CEO of Cantor Fitzgerald, being the front runners. The choice of Treasury Secretary is being closely watched due to the significant role the economy played in the recent election.
Key takeaways:
President-elect Donald Trump is quickly filling out his cabinet, with a common theme of loyalty among his picks.
US Attorney General nominee Matt Gaetz has been controversial due to past sex-trafficking allegations and his clashes with the tech industry over censorship.
Secretary of State nominee Marco Rubio is known for his criticism of China and support of Taiwan, which could add tension to US-China relations.
The Treasury Secretary position is still to be determined, with Scott Bessent and Howard Lutnick as the current front runners.
