Tax & Spend

Mnuchin Flags US Budget Deficit as Bigger Worry Than Trade Gap

Former US Treasury Secretary Steven Mnuchin, now founder and managing partner at Liberty Strategic Capital, says that while there are still a few things to sort out on the tax bill, the Trump administration is on track to get it through by early summer. He made the comments during a panel discussion moderated by Erik Schatzker at the Qatar Economic Forum 2025, powered by Bloomberg.Source: Bloomberg

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By Anto Antony

May 21, 2025 at 11:46 AM UTC

Former United States Treasury Secretary Steven Mnuchin said he’s more alarmed by the country’s growing budget deficit than its trade imbalances, and urged Washington to prioritize fiscal repair.

“I’m very concerned,” he said during a panel discussion at the Qatar Economic Forum on Wednesday. “The budget deficit is a larger concern to me than the trade deficit. So I’m on the side of, I hope we do get more spending cuts — something that’s very important.”