Stef W. Kight / Axios

Treasury Secretary Steve Mnuchin joined Axios' Mike Allen this morning at the debut of his News Shapers event series to talk about his new role in the Trump Administration.

On AI supplanting human jobs: "it's not even on our radar screen.... 50-100 more years" away. "I'm not worried at all" about robots displacing humans in the near future, he said, adding: "In fact I'm optimistic."

Other big ticket items:

Trump:

  • Trump's stamina: "He's got perfect genes. He has incredible energy and he's unbelievably healthy."
  • Trump's diet: Mnuchin claimed Trump no longer eats KFC or McDonald's, as the White House food is "great."
  • The dollar bill: "I think we should look at putting President Trump on the thousand dollar bill."
  • Trump's views evolving: "He's the negotiator-in-chief... he wants big deals."
  • Trump's leadership style: "He has an open door. People are coming and going, and he thinks about something and calls somebody on the phone... this is not a formal, scheduled president."

Tax reform:

  • "Much simpler" than health care reform, saying the Trump administration will do it comprehensively. Not going to break it up into more passable pieces.
  • Corporate tax rate: Mnuchin declined to reiterate Trump's goal of a 15% corporate tax rate, vs. Ryan's 20% plan.
  • Carried interest loophole: Mnuchin said the loophole will be closed in our tax plan. But that's for hedge funds. No commitment on real estate, etc.
  • Border adjustment tax: It has certain aspects that are VAT-like, which much of the rest of the world uses.
  • The focus of tax cuts: Mnuchin said the Trump administration's focus is on tax cuts for the middle class, not upper.

The global economy:

  • Renegotiating trade deals: "So long as we can renegotiate [trade] deals that are good for us, we won't be protectionist. Otherwise we will."
  • The one bad thing: We don't know how to predict the next bad thing.
  • Trump's big objective: Keep people safe, per Mnuchin.
  • Does Mnuchin worry about who is calling Trump? "No. Do you?"

On Silicon Valley, tech and jobs:

  • Valuations: "I don't understand these valuations."

Infrastructure:

  • Infrastructure finance: "It's clear he wants to do something very significant," Mnuchin said, referenced Trump's wish list. He added it wouldn't be deficit-financed.
  • The big problem: Regulations, not the money.

Go deeper

"Not enough": Protesters react to no murder charges in Breonna Taylor case

A grand jury has indicted Brett Hankison, one of the Louisville police officers who entered Breonna Taylor's home in March, on three counts of wanton endangerment for firing shots blindly into neighboring apartments.

The state of play: Angering protesters, the grand jury did not indict any of the three officers involved in the botched drug raid on homicide or manslaughter charges related to the death of Taylor.

Dave Lawler, author of World
Updated 41 mins ago - World

U.S. no longer recognizes Lukashenko as legitimate president of Belarus

Lukashenko at his secret inauguration. Photo: Andrei Stasevich/BELTA/AFP via Getty Images

The U.S. no longer recognizes Aleksandr Lukashenko as the legitimate president of Belarus, the State Department said in a statement on Wednesday.

Why it matters: Lukashenko has clung to power with the support of Russia amid seven weeks of protests that have followed a blatantly rigged election. Fresh protests broke out Wednesday evening in Minsk after it emerged that Lukashenko had held a secret inauguration ceremony.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4:30 p.m. ET: 31,735,542 — Total deaths: 973,443 Total recoveries: 21,798,488Map.
  2. U.S.: Total confirmed cases as of 4:30 p.m. ET: 6,925,840 — Total deaths: 201,617 — Total recoveries: 2,646,959 — Total tests: 96,612,436Map.
  3. Health: CDC director says over 90% of Americans have not yet been exposed to coronavirus — Supply shortages continue to plague testing.
  4. Politics: Poll: 51% of Republicans trust Trump on coronavirus more than the CDC.
  5. Vaccines: Johnson & Johnson begins large phase 3 trial — The FDA plans to toughen standards.
  6. Sports: Less travel is causing the NBA to see better basketball.

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