President-elect Donald Trump is rapidly finalizing his cabinet, offering a clearer view of his second administration’s approach and priorities. One clear trend is emerging among his picks: loyalty. With Republican control of both the House and Senate, Trump has substantial authority to steer his administration’s vision, especially in shaping policies that impact the business world.
Here’s a look at some of Trump’s recent appointments and what they might mean for key industries:
U.S. Attorney General — Matt Gaetz
Trump’s nomination of Florida Congressman Matt Gaetz as attorney general has surprised many. Known for his role in ousting Kevin McCarthy as Speaker, Gaetz has proven to be a divisive figure, even within his own party. He was previously investigated for alleged sex trafficking—a probe that did not result in charges but added to his controversial reputation. Gaetz has also openly criticized the tech industry, suggesting a strong stance against Silicon Valley’s handling of conservative voices. His confirmation faces a potentially challenging path in the Senate.
Secretary of State — Marco Rubio
Florida Senator Marco Rubio, a vocal critic of China and strong advocate for Taiwan, is Trump’s pick for Secretary of State. Rubio’s stance on China includes supporting tariffs and raising concerns about economic threats posed by the nation. With Rubio’s appointment, expect intensified policies targeting China and strong backing for Taiwan, adding more weight to the existing U.S.-China tensions.
Secretary of Defense — Pete Hegseth
Army veteran and Fox News personality Pete Hegseth has been chosen as Secretary of Defense. Known for his skepticism of U.S. support for Ukraine and his staunch defense of Israel, Hegseth brings a nationalist, “America-first” outlook to defense policy. His views extend to a reluctance toward U.S. military diversity initiatives and criticism of women in combat roles, which could lead to shifts in military policy.
Treasury Secretary — TBD
Trump’s yet-to-be-announced pick for Treasury Secretary is a critical appointment, given the centrality of economic issues in the recent election. Front-runners include Scott Bessent, a hedge fund executive, and Howard Lutnick, co-chair of Trump’s transition team and CEO of Cantor Fitzgerald. Bessent’s financial expertise has made him an early favorite, but Lutnick remains a strong contender, lobbying to secure the role.
These cabinet picks provide early insights into Trump’s agenda, signaling potential shifts in tech regulation, foreign policy, defense priorities, and economic management. Expect these choices to shape significant policies impacting both the U.S. and the global economy as Trump’s administration begins.