Eve of Trump 2.0

Key Takeaways
  • Trump is set for his second inauguration on Monday, and major foreign-policy issues will demand the immediate attention of him and his team.
  • Many of his Cabinet nominees have already had Senate confirmation hearings, and all appear set to be confirmed next week.
  • This includes Treasury Secretary nominee Scott Bessent, whose hearing went smoothly as he highlighted tax policy as likely one of the first fiscal issues for the Trump administration.

On Monday, Donald Trump’s second term as President begins, and he will set the tone for the next four years with his inaugural speech. From trade and tariffs to immigration and foreign policy, there are big questions that the new President and his team will need to address as the new Administration goes to work.

This past week saw Senate confirmation hearings for many of the key players in the new Administration including the Secretaries of State, Treasury, Defense, and Justice. All the nominees, including Pete Hegseth – arguably the most controversial, held their own and appear set to win Senate confirmation next week. 

On the foreign policy front, President Trump appears set to have an early win with the approval of a ceasefire between Israel and Hamas ready to commence the day he takes office. The conclusion of the deal was a bipartisan undertaking, as President Trump and his Middle East advisor were directly involved in the talks. 

Senator Marco Rubio should be confirmed as Secretary of State as early as Monday, and he will need to move quickly along with the new President’s special envoy to fulfill candidate Trump’s pledge for an early end to the war in Ukraine. Reportedly, the President-elect has not yet spoken to Russian President Vladimir Putin, but an early conversation is in the works.  The Trump team announced today that on Thursday, the soon-to-be President had his first conversation with Chinese leader Xi since he left office. 

The new Treasury Secretary Scott Bessent also had a smooth confirmation hearing this past week and demonstrated his years of experience dealing with financial markets.  He should get Senate confirmation as early as Monday.  The Secretary-designate held his cards close to his vest on tariffs but made clear that renewing the Trump tax policy would be an early issue for the Administration and the Republican Congress.

Donald Trump officially becomes the 47th President at noon on Monday and speculation will end and policy decisions will start on day one.

Disclosures (show)

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