• President-elect Donald Trump will likely return to the cornerstones of his previous economic agenda, such as tariffs, lower taxes and sanctions, former Treasury Secretary Steven Mnuchin said.
• Mnuchin said he likely would not play an official role in the Trump administration but would be “happy to serve from the outside.”

President-elect Donald Trump will likely return to the pillars of his previous economic agenda, such as tariffs, lower taxes and sanctions, when he takes office in January, his former Treasury secretary said Thursday.

Steven Mnuchin, who served in the role throughout Trump’s first term from 2017 to 2021, told CNBC that he considers these points essential to the Republican’s agenda.

The tax cuts are “a signature part of his agenda,” Mnuchin said in a “Scream box” Interview. “I think it should be easy to pass in Congress, particularly if Republicans also control the House, which appears to be the case.”

Also on the agenda would be tariffs, which Trump implemented on several counts during his first term and has promised to do so again.

“I think tariffs should be used to bring counterparties back to the table, particularly China, which is not honoring every agreement it has made,” Mnuchin said.

Finally, he indicated that countries like Iran and Russia can expect new sanctions. The Trump administration imposed measures against Iranian oil producers in 2019 because they belonged to the Islamic Revolutionary Guard Corps.

“The sanctions against Iran and Russia have had a huge impact. In the case of Iran, they are now selling millions of barrels of oil, which needs to be stopped,” Mnuchin said.

Aside from those issues, Mnuchin, who said he likely won’t take an official role in the Trump administration but would be “happy to serve from the outside,” expects Trump to attack on other issues such as the large budget deficit.

“I think he’s now in a position, especially with this overwhelming result, to tackle some tough questions, and I think that needs to be part of government spending,” he said.

Mnuchin is the founder of Liberty Strategic Capital.