(Bloomberg Businessweek) -- Former President Donald Trump sat down with Bloomberg Businessweek at his Mar-a-Lago golf resort in Palm Beach, for a wide-ranging, 90-minute interview about the state of the US economy and business—and his agenda for a potential second White House term.
Trump was clear about his intentions if returned to power in the interview, conducted just weeks before he was set to formally receive the Republican Party’s nomination for president. He boiled his economic agenda down to “low interest rates and taxes,” saying there was a “tremendous incentive to get things done and to bring business back to our country.”
With Democrats mired in turmoil over whether to replace President Joe Biden on the ticket and polls showing Trump gaining ground in the swing states that will determine the outcome of November’s election, Republicans stand poised to potentially have control of the White House and both chambers of Congress, allowing them to usher in sweeping policy changes.
If reelected, Trump pledged to institute new tariffs—and squeeze both US allies and adversaries for trade concessions—as well as renew expiring tax cuts, allow more drilling to boost domestic energy production, scale back regulations and unleash the crypto industry while reining in big technology companies. And he made clear his willingness to upend long-standing US foreign policy doctrines, such as protecting Taiwan from Chinese threats.
The interview was conducted more than two weeks before Trump was shot in the ear by a gunman at a Pennsylvania rally—an attempted assassination that shocked the country and highlighted the growing danger of political violence.
Here are five takeaways from the June 25 interview:
Federal ReserveTrump said he would allow Federal Reserve Chair Jerome Powell to serve out his full term through May 2026. That would ensure Powell continues working deep into a potential second Trump administration.
“I would let him serve it out,” Trump said, “especially if I thought he was doing the right thing.”
Tax CutsThe former president said he would like to bring the corporate tax rate down from its current rate of 21% to as low as 15%. If that target proves too difficult to achieve, he would be content to bring it down to 20%, a figure he justified by saying he liked its "simplicity.”
Role for Dimon?Trump says he’s changed his view of JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon, whom he assailed last year as a “highly overrated Globalist.” The Republican said he could envision Dimon—thought to be contemplating a political career—as “somebody that I would consider” for Treasury secretary.
If Dimon does get tapped, he could find an administration full of former executives, such as North Dakota Governor Doug Burgum, who led the startup Great Plains Software Inc. before selling it to Microsoft Corp., and Virginia Governor Glenn Youngkin, a former Carlyle Group Inc. co-CEO.
“Youngkin is prime time,” Trump says. “I’d love to have him in my administration.”
Defending TaiwanTrump was cool to the idea of defending Taiwan from Chinese aggression, a long-standing tenet of US foreign policy that enjoys broad bipartisan support. His skepticism is grounded partly in what he regards as the practical difficulties in defending an island across the globe as well as a desire to see Taiwan pay the US for its protection.
“I mean, how stupid are we? They took all of our chip business,” Trump said. “They’re immensely wealthy.
“I don’t think we’re any different from an insurance policy,” he continued. “Why are we doing this?”
Presidential PardonTrump insisted he would not pardon himself if convicted of a federal crime in the cases pending against him.“I wouldn’t consider it,” he said.
(Corrects Powell term end date in the seventh paragraph.)
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