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<ul class="summary-list"><li>Donald Trump might have upended the veepstakes tradition when he picked JD Vance as his running mate.</li><li>Vance, who holds remarkably similar political views to Trump, isn't going to "balance the ticket."</li></ul>Former President <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-luck-classified-documents-assassination-debate-2024-7">Donald Trump</a> upended the election tradition of "<a target="_blank" class="" href="https://www.businessinsider.com/trump-flipped-script-jd-vance-not-aimed-balancing-president-ticket-2024-7">balancing the ticket</a>" when he picked Ohio Sen. <a target="_blank" class="" href="https://www.businessinsider.com/trump-vice-president-jd-vance-career-facts-2024-7">JD Vance</a> as his running mate. But the MAGA pair is unlikely to disrupt the calculus for an Asia that's already preparing for the possibility of his victory in November, experts say.Vance, a former Trump critic turned MAGA stalwart, has voiced foreign policy views in lockstep with Trump. Both men <a target="_blank" class="" href="https://www.businessinsider.com/where-does-trump-vance-stand-on-china-tariffs-inflation-taxes-2024-7">support wide tariffs on China</a> and have <a target="_blank" class="" href="https://www.businessinsider.com/trumps-running-mate-jd-vance-ukraine-worst-nightmare-analysis-2024-7">criticized US aid to Ukraine</a>.Yet three experts on the Asia-Pacific told Business Insider that regional leaders — having learned from Trump's shock win in 2016 and his subsequent unpredictability — are already laying the groundwork for a scenario where he wins.<h2 id="d60358f2-bcd9-4253-90a1-8c07028ce812">Asia won't be surprised by a Trump-Vance administration</h2>"It would be quite irresponsible if they didn't already countenance this, and I think, to be honest, we will not see the overreactions that we saw earlier or in parts of Europe," said <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://dr.ntu.edu.sg/cris/rp/rp00194">Dylan Loh</a>, assistant professor of public policy and international studies at Singapore's Nanyang Technological University (NTU).Trump previously <a target="_blank" class="" href="https://www.businessinsider.com/trump-tpp-trans-pacific-partnership-what-it-means-2017-1">reneged on deals</a> he felt were disadvantageous to the US and pressured allies like <a target="_blank" class="" href="https://foreignpolicy.com/2019/11/15/trump-asks-tokyo-quadruple-payments-us-troops-japan/">Japan</a> and <a target="_blank" class="" href="https://www.businessinsider.com/trump-thaad-south-korea-2017-4">South Korea</a> to support US defense costs.But Loh believes regional stability will prevail."I think Trump's tenure has shown that fears of abandonment or ignorance of politics in Asia are overblown," he said.The most prominent US-aligned governments in Japan, South Korea, Taiwan, and the Philippines have been hedging their bets and working carefully to make their economies and supply chains more resilient, said <a target="_blank" class="" href="https://discovery.nus.edu.sg/2380-ja-ian-chong">Chong Ja Ian</a>, a political science professor at the National University of Singapore."Other Southeast Asian states seem to believe they can weather another Trump administration, perhaps by freezing on the efforts of the northeast Asian US allies and partners plus the Philippines," he said.It's not just economics. The Philippines, for example, <a target="_blank" class="" href="https://www.cnbc.com/2024/07/09/japan-and-the-philippines-sign-landmark-defense-deal-to-counter-china-.html">inked a new defense pact with Japan</a> in July as it grapples with the threat of an increasingly belligerent China in the South China Sea. This comes as the Philippines signs maritime agreements with key NATO countries <a target="_blank" class="" href="https://ipdefenseforum.com/2024/04/philippines-u-k-strengthen-ties-to-boost-maritime-security-cooperation/">like the UK</a> and <a target="_blank" class="" href="https://newsinfo.inquirer.net/1692751/ph-france-sign-agreement-strengthening-maritime-industry">France</a>.<h2 id="d23ca00c-37ca-4167-bbb6-cebb083b0d0f">US-China relations won't change much, whether it's Trump or Biden at the wheel</h2>Even though Trump started the US-China trade war, experts say that China won't be too bothered if he returns to the White House.This, NTU's Loh said, is because President Joe Biden hasn't really deviated from Trump's hawkish stance against the Asian giant.For one, the Biden administration has <a target="_blank" class="" href="https://www.businessinsider.com/china-tariffs-trade-restrictions-budget-deficit-biden-trump-stephen-roach-2024-7">kept most of Trump's China tariffs in place</a>. In fact, Biden introduced some of his own when he announced a <a target="_blank" class="" href="https://www.businessinsider.com/white-house-joe-biden-hikes-tariffs-on-chinese-made-evs-2024-5">100% tariff on Chinese electric vehicles</a> in May."For China, any preferences for either Trump or Biden is going to be marginal," Loh said."I think it is quite clear that regardless of whether a Democrat or a Republican is in office, the general bipartisan mood of seeing China as a threat or a strategic competitor will not abate," he added.<a target="_blank" class="" href="https://www.rsis.edu.sg/profile/kevin-chen-xian-an/">Kevin Chen</a>, a research fellow at NTU's S. Rajaratnam School of International Studies, told BI that China may even prefer to have Trump back in power due to the turmoil he'll bring to the US' foreign ties."Given how Mr Trump would likely alienate US allies and partners with his policies, Beijing may prefer that he retake the White House to give them more opportunities to spread their influence," Chen explained.That said, most Asia-Pacific countries will shy away from appearing to take sides or expressing relief if either candidate wins."There's a joke in Japanese diplomatic circles that the outcome of a US presidential election is like opening a Christmas present, except that they must express that 'this is exactly what I wanted' regardless of the result," Chen said.

Asia is preparing for a rogue US if Trump and Vance win the election, security and foreign policy experts say

The country's <keyword id="20344433" type="General" weightage="100" keywordseo="forex-reserves" source="keywords">forex reserves</keyword> touched a <keyword id="19953076" type="General" weightage="20" keywordseo="record-high" source="keywords">record high</keyword> of <keyword id="22711333" type="General" weightage="20" keywordseo="USD-675-billion" source="keywords">USD 675 billion</keyword> on August 2, <keyword id="22204269" type="General" weightage="20" keywordseo="Reserve-Bank-Governor" source="keywords">Reserve Bank Governor</keyword> <keyword id="19913110" type="General" weightage="20" keywordseo="Shaktikanta-Das" source="keywords">Shaktikanta Das</keyword> said on Thursday. The previous all-time high for the kitty was USD 670.857 billion on July 19 this year, and the last reported reserve was USD 667.386 billion as on July 26. Das said overall, the country's <keyword id="20811151" type="General" weightage="20" keywordseo="external-sector" source="keywords">external sector</keyword> "remains resilient" as indicated by an improvement in key indicators. "We remain confident of meeting our <keyword id="22711421" type="General" weightage="20" keywordseo="external-financing-requirements" source="keywords">external financing requirements</keyword> comfortably," he said in his statement after the review of the <keyword id="20104157" type="General" weightage="20" keywordseo="monetary-policy" source="keywords">monetary policy</keyword>. Das said <keyword id="20015748" type="General" weightage="20" keywordseo="foreign-portfolio-investors" source="keywords">foreign portfolio investors</keyword> turned net buyers in the domestic market from June 2024 with net inflows of USD 9.7 billion during June- to August 6, after witnessing outflows of USD 4.2 billion in April and May. Gross foreign direct investment (FDI) rose by more than 20 per cent in April-May 2024, while net FDI flows doubled during this period compared to the corresponding period of the previous year, the Governor said. External commercial borrowings by Indian entities moderated, but non-resident deposits were higher in April-May, he said.

India's forex reserves at record high of USD 675 billion, external sector resilient: RBI Governor Shaktikanta Das

<ul class="summary-list"><li>Israel launched a "limited" ground offensive in Lebanon after killing a top Hezbollah leader in airstrikes.</li><li>The attacks came just days after the US called for a 21-day cease-fire on September 25.</li></ul>The Israel Defense Forces, in a statement, confirmed it had begun a "limited, localized, and targeted" <a target="_blank" href="https://www.businessinsider.com/israel-launches-ground-offensive-into-lebanon-destroy-hezbollah-targets-2024-9">ground offensive in Lebanon </a>early Tuesday local time, aimed at the Iran-backed militant organization, Hezbollah, after trading back-and-forth strikes with the group for nearly a year.The ground offensive came after a series of airstrikes on September 27 that killed Hezbollah's longtime chief, <a target="_blank" class="" href="https://businessinsider.com/who-was-hassan-nasrallah-the-hezbollah-leader-killed-by-israel-2024-9">Hassan Nasrallah</a>, a major victory for Israeli Prime Minister Benjamin Netanyahu.That Israel conducted the operations just days after the US called for a <a target="_blank" class="" href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/09/25/joint-statement-by-the-united-states-australia-canada-european-union-france-germany-italy-japan-saudi-arabia-united-arab-emirates-qatar/">21-day cease-fire</a> on September 25, however, only reinforces that Israel has its own interests, and a now-emboldened Netanyahu won't easily be reined in by the US, which has so far failed to deescalate the situation since the <a target="_blank" class="" href="https://www.businessinsider.com/why-is-there-fighting-in-israel-and-what-caused-the-conflict-2023-10">October 7, 2023, Hamas terrorist attack</a>, foreign policy experts told Business Insider.The US, a key Israeli ally and intermediary in peace talks, has thus far failed to broker a cease-fire, negotiate the release of hostages being held by Hamas, or reign in civilian deaths in Israel's fight in Gaza.And despite increased international pressure for a cease-fire between Israel and Hezbollah following a series of <a target="_blank" class="" href="https://www.businessinsider.com/hezbollah-pager-explosions-lebanese-residents-abandon-devices-2024-9">deadly pager explosions</a> in Lebanon earlier this month, Israel launched airstrikes and, now, what it is calling a "limited" ground invasion.Chuck Freilich, a former deputy national security advisor who served for over 20 years in Israel's security establishment, told BI that while Nasrallah's death was seen as a major accomplishment for Israel and the US, the strike "also reinforces the long-standing dislike for Netanyahu and the belief that he is not a reliable partner for the US."Freilich, currently a political science professor at Columbia University, noted that the relationship between Israel and the US has been tense before — recalling a 2014 incident wherein an official in then-President Barack Obama's administration was quoted calling Netanyahu a "<a target="_blank" class="" href="https://www.businessinsider.com/netanyahu-chicken-comments-obama-israel-boehner-2014-10">chickenshit</a>." Benjamin Radd, a research fellow with the UCLA Center for Middle East Development, told BI that President Joe Biden's lame-duck status might be influencing Netanyahu's decision-making."I think we have a situation where the Israeli prime minister is finding himself a window with which to operate, where internationally — or at least here in the US — there seem to be number one, distractions, and number two, a candidate whose positions on Israel's foreign policy decisions might be more favorable toward the Prime Minister," Radd said, referring to a potential Donald Trump win in the upcoming election.Netanyahu, Radd said, seems to be seizing his opportunity for escalation in a way he wouldn't necessarily do if Biden weren't on his way out of office.Sean McFate, a national security and foreign policy expert at Syracuse University, told BI that the airstrike is a "major escalation" in the conflict and that Israel is not a "finger puppet" to the US that will easily kowtow to outside demands."I think it's hubris to think that America can just pull a leash, and Bibi does what we want," McFate said of Netanyahu using his nickname. Israel scored a major win by taking out <a target="_blank" class="" href="https://www.businessinsider.com/netanyahu-tricked-nasrallah-with-un-speech-official-says-2024-9">Nasrallah</a>, McFate said — a move that Biden acknowledged as a "measure of justice" in the same statement in which he called for diplomacy in Gaza and Lebanon.He added that the prime minister may also consider the US an unreliable partner.In May, <a target="_blank" href="https://www.reuters.com/business/aerospace-defense/us-has-been-holding-up-several-weapons-shipments-israel-2-weeks-source-says-2024-05-07/">Reuters</a> reported that the Biden administration paused a weapons shipment to Israel to oppose an apparent move to carry out an offensive into Rafah in southern Gaza."We have promised weapons, we don't deliver them on time," McFate said of Netanyahu's possible thinking. Israel ultimately went ahead with its military plans in Rafah.The killing of a top Hezbollah leader and the subsequent ground invasion complicates the already murky path to de-escalation.Netanyahu, who is in a politically fraught position as he faces <a target="_blank" class="" href="https://www.businessinsider.com/israeli-pm-benjamin-netanyahu-indicted-on-fraud-bribery-charges-2019-11">corruption charges</a> (he denies wrongdoing) and has yet to secure the remaining hostages held by Hamas since last October, may now be even more emboldened, McFate said."The question is, what happens next? Does Israel escalate? Does Hezbollah escalate? Does Iran escalate?" McFate added. "We're at the most volatile moment since October 7."Representatives for the State Department and the Israeli prime minister's office did not respond to requests for comment from Business Insider.

Israel's airstrikes and incursion against Hezbollah show that the US can't easily rein in Netanyahu, foreign policy experts say

Rupee appreciated 7 paise to 84.22 against the US dollar in morning trade on Tuesday, on a sharp rebound in domestic equities amid improved investor risk appetite. Forex traders said the <keyword id="21663515" type="General" weightage="20" keywordseo="MSCI-equity-index" source="keywords">MSCI equity index</keyword> rebalancing significantly boosted sentiment for Indian equity markets as <keyword id="19932515" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="keywords">foreign institutional investors</keyword> broke a 40-session streak of net selling by purchasing Rs 9,947 crores on Monday, lending robust support to the rupee. Moreover, the win by the incumbent government in Maharashtra, further fueled investor confidence in economic stability, sparking a rally in equity markets. At the interbank foreign exchange, the rupee opened at 84.27 and moved in a tight range and touched an early high of 84.22 against the greenback, registering a gain of 7 paise over its previous close. On Monday, the rupee appreciated 12 paise to close at 84.29 against US dollar. "While Donald Trump's aggressive trade policies loom large, the rupee's outlook remains cautiously optimistic. The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword>'s projection of a GDP growth rebound to 7.6 per cent in Q3 has infused fresh confidence in India's economic trajectory. Additionally, a surge in capital inflows is likely to provide robust support," CR Forex Advisors MD Amit Pabari said. Pabari further said that the RBI's vigilant stance will be critical in managing volatility, with interventions likely at key levels to maintain stability. "Given the factors, the USDINR pair appears to face resistance around the 84.50 level, with expectations of trading within a range of 83.80 to 84.50, leaning toward a downside bias," he said. On the global front, US Treasury Secretary nominee Scott Bessent's fiscal deficit reduction agenda capped US Treasury yields, Pabari said. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.28 per cent at 107.11. Brent crude, the global oil benchmark, rose by 0.33 per cent to USD 73.25 per barrel in futures trade. In the domestic equity market, the 30-share equity benchmark Sensex jumped 167.76 points or 0.21 per cent to 80,277.61 points in early trade, while Nifty jumped 55.80 points or 0.23 per cent to 24,277.70 points. Foreign Institutional Investors (FIIs) turned net buyers in the capital markets on Monday, purchasing shares worth Rs 9,947.55 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-oxygenos-15-update-now-rolling-out-with-flux-themes-improved-ai-features-and-more/articleshow/115657313.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-oxygenos-15-update-now-rolling-out-with-flux-themes-improved-ai-features-and-more/articleshow/115657313.cms" target="_blank">OnePlus Open OxygenOS 15 update now rolling out with Flux Themes, improved AI features and more</a><a href="https://www.businessinsider.in/tech/news/microsofts-ai-powered-recall-feature-is-now-rolling-out-to-copilot-pcs/articleshow/115654136.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/microsofts-ai-powered-recall-feature-is-now-rolling-out-to-copilot-pcs/articleshow/115654136.cms" target="_blank">Microsoft’s AI-powered Recall feature is now rolling out to Copilot+ PCs</a><a href="https://www.businessinsider.in/business/telecom/news/jio-airtel-and-vi-lost-nearly-11-million-subscribers-in-september-2024/articleshow/115565541.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/jio-airtel-and-vi-lost-nearly-11-million-subscribers-in-september-2024/articleshow/115565541.cms" target="_blank">Jio, Airtel and Vi lost nearly 11 million subscribers in September 2024</a>

Rupee rises 7 paise to 84.22 against US dollar in early trade

The <keyword id="19949639" type="General" weightage="20" keywordseo="Rupee" source="keywords">rupee</keyword> recovered from its all-time low level and witnessed a range-bound trade against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> in early hours on Thursday, as investors remained cautious ahead of the US Fed meeting outcome later this week. Forex traders said RBI interventions will keep the <keyword id="23844589" type="General" weightage="20" keywordseo="USD/INR-pair" source="keywords">USD/INR pair</keyword> between 83.80 and 84.35. Moreover, the US Federal Reserve monetary policy and officials' comments will be in focus to derive further momentum. At the interbank foreign exchange, the rupee opened at 84.26 against the greenback, registering a rise of 5 paise over its previous close. On Wednesday, the rupee depreciated 22 paise to close at an all-time low of 84.31 against the US dollar. "The <keyword id="20045514" type="General" weightage="20" keywordseo="Indian-rupee" source="keywords">Indian rupee</keyword> fell to its lowest (level) on Wednesday and is expected to continue with its fall as the Reserve Bank of India (RBI) allows a weaker rupee with FPIs (<keyword id="20015748" type="General" weightage="20" keywordseo="foreign-portfolio-investors" source="keywords">foreign portfolio investors</keyword>) continuing their selling mode in equities," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. RBI protected the rupee for some time but left the protection as pressure on buying dollars was immense after a rise in the dollar index and an increase in US yields, Bhansali added. Forex traders said the rupee was trading in a narrow range as persistent foreign fund outflows, a muted trend in domestic equities and the strength of the American currency in the overseas market, dented investor sentiments. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.10 per cent lower at 104.98. Brent crude, the global oil benchmark, rose 0.79 per cent to USD 75.51 per barrel in futures trade. On the domestic equity market front, Sensex declined 429.83 points, or 0.53 per cent, to 79,948.30 points. The Nifty fell 143.25 points, or 0.59 per cent, to 24,340.80 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs 4,445.59 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/skoda-kylaq-suv-launched-in-india-starting-at-7-89-lakh/articleshow/115013668.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/skoda-kylaq-suv-launched-in-india-starting-at-7-89-lakh/articleshow/115013668.cms" target="_blank">Skoda Kylaq SUV launched in India starting at ₹7.89 lakh</a><a href="https://www.businessinsider.in/stock-market/webstories/swiggy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115004939.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/swiggy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115004939.cms" target="_blank">Swiggy IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-6500mah-battery-to-launch-in-india-on-november-26/articleshow/114945858.cms" target="_blank"></a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms" target="_blank">Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away</a>

Rupee rises 5 paise to 84.26 against US dollar in early trade

<ul class="summary-list"><li>Americans are increasingly concerned about foreign policy, a new Associated Press-NORC poll finds.</li><li>Some 4 in 10 US adults named foreign policy when asked for 5 issues the government should focus on.</li></ul>Americans increasingly believe foreign policy should be a top focus for the US government this year, <a target="_blank" href="https://apnews.com/article/2024-top-issues-poll-foreign-policy-israel-d89db59deb07f53382cc9292b49f4d1c">a new Associated Press poll shows.</a>The economy continues to hold steady as American's' highest priority. When asked to name up to five topics the government should work on in 2024, three out of four US adults polled picked the economy as one of their choices, a level of concern that has held steady since last year.But concerns about issues like immigration and international affairs, while priorities for a smaller percentage of Americans, are clearly rising, according to the poll, conducted in December by The Associated Press and the NORC Center for Public Affairs Research.About 40 percent of US adults named foreign policy as a priority for 2024, about twice as many as did so the previous December.About 20 percent said the government should focus on US involvement in conflicts overseas, up from 5 percent a year ago.The poll shows that the Israeli-Hamas war is beginning to fuel public concern, with 5 percent of respondents mentioning the conflict as something the government should focus on. Nearly no one cited the region as a concern a year ago.Four percent of those polled mentioned the ongoing conflict between Russia and Ukraine as something the government should focus on, down from 6 percent a year ago.Republicans were more likely than Democrats to name foreign policy as a priority. Some 46 percent of GOP voters did so, up from 23 percent last year.Only 34 percent of Democrats named foreign policy as a topic they hoped Washington would focus on this year, but that's still up from 16 percent a year ago.The poll also found concerns about immigration rose to 35 percent from 27 percent last year. A slight majority of Republicans, 55 percent, said the government needs to focus on immigration in 2024, as compared with 22 percent of Democrats.

Americans are increasingly concerned about foreign policy, but the economy remains the top priority for 2024, poll finds

<ul class="summary-list"><li>Donald Trump is yet to announce his pick for Treasury Secretary.</li><li>Names in the frame include Scott Bessent, Howard Lutnick, Marc Rowan, and Kevin Warsh.</li></ul>After announcing a swathe of names for his Cabinet, president-elect Donald Trump appears to be conducting auditions for his <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-trump-lutnick-treasury-secretary-bessent-2024-11">Treasury Secretary</a>.Figures in the frame include Scott Bessent, the founder of Key Square Capital Management; Howard Lutnick, the CEO of Cantor Fitzgerald; Marc Rowan, the Apollo Global Management cofounder; and Kevin Warsh, a former governor of the Federal Reserve Board.Here's some of the best commentary we've seen about the race to be the next Treasury Secretary.<h2 id="ae4b6c87-26a6-4e33-8ebf-b45e9babbffa">The New York Times DealBook newsletter</h2><h2 id="3d1cf5aa-5b7d-4e4d-96ee-6793db22c7d5"><a target="_blank" class="" href="https://x.com/Jkylebass/status/1857794067251298541">Kyle Bass</a>, chief investment officer of Hayman Capital Management, on X</h2><h2 id="d9877d8e-25ac-4ef8-8713-1b59b57c9fb3">The Wall Street Journal Editorial Board — <a target="_blank" class="" href="https://www.wsj.com/opinion/disruption-wont-work-at-treasury-trump-nomination-musk-63c5b8f9">'Disruption Won't Work at Treasury'</a></h2><h2 id="8b031c32-dd8c-499c-947e-7025201d570d">Mike Allen, Axios cofounder, on <a target="_blank" class="" href="https://www.cnbc.com/video/2024/11/18/new-treasury-secretarys-number-one-job-will-be-reassuring-the-markets-says-axios-mike-allen.html">CNBC</a></h2><h2 id="e06aa875-8c1b-4294-b272-8d54a101d0be">Ian Bremmer, Eurasia Group founder, told BI:</h2><h2 id="5ae024d8-3102-40b1-a230-50772299c96d">The Economist — <a target="_blank" class="" href="https://www.economist.com/united-states/2024/11/16/howard-lutnick-donald-trumps-resilient-transition-chief">'Howard Lutnick, Donald Trump's resilient transition chief'</a></h2><h2 id="562ada01-796e-4318-925e-7743f2c8fa55">Bloomberg Editorial Board — <a target="_blank" class="" href="https://www.bloomberg.com/opinion/articles/2024-11-14/donald-trump-s-nominees-suggest-familiar-chaos?srnd=opinion">'Trump's Nominees Suggest Familiar Chaos'</a></h2><h2 id="4ba2f401-897a-4adc-8768-3322644452e9"><a target="_blank" class="css-175oi2r r-1wbh5a2 r-dnmrzs r-1ny4l3l r-1loqt21" href="https://x.com/JStein_WaPo">Jeff Stein,</a> The Washington Post economics reporter, on X</h2>

Trump's Treasury Secretary: The best commentary about who the president-elect should nominate

<ul class="summary-list"><li>President-elect Donald Trump nominated Brendan Carr as the chairman of the Federal Communications Commission.</li><li>Carr has been working for the FCC since 2012.</li></ul>On Sunday, President-elect Donald Trump announced his nomination for the chairman of the Federal Communications Commission, or FCC: Brendan Carr.Carr, who has worked at the FCC since 2012, is the senior Republican on the commission. He is also the author of the FCC chapter of <a target="_blank" class="" href="https://www.businessinsider.com/what-is-project-2025-conservative-political-playbook-heritage-foundation-trump-2024-7">Project 2025</a>, the conservative playbook that's raised questions among Democrats and Republicans alike for pushing policies like eliminating the Department of Education.In a Truth Social post announcing the nomination, Trump wrote that Carr is a "warrior for Free Speech.""He will end the regulatory onslaught that has been crippling America's Job Creators and Innovators, and ensure that the FCC delivers for rural America," Trump added.Carr thanked Trump for the nomination, writing on X that he is "humbled and honored to serve as Chairman of the FCC."The role requires Senate approval. If Carr does become the chairman of the FCC, the appointment stands to have serious impacts on Big Tech.<h2 id="74fa1360-14f5-4659-b046-4dcdf8b4702e">Carr's stance on Big Tech</h2>In his Project 2025 chapter, Carr writes that one of his four main goals for the FCC is "Reining in Big Tech.""The FCC has an important role to play in addressing the threats to individual liberty posed by corporations that are abusing dominant positions in the market. Nowhere is that clearer than when it comes to Big Tech and its attempts to drive diverse political viewpoints from the digital town square," he wrote."It is hard to imagine another industry in which a greater gap exists between power and accountability," he added.Carr outlined several steps for the FCC to take, including publicizing a new stance on the law's approach to Section 230, a part of the Communications Act of 1934.Section 230 states that online service providers aren't legally treated as publishers of their users' posts and can't be held liable for any actions taken "in good faith" to moderate or censor inappropriate content.Carr said the FCC should push for limitations to those rules, which he said have been abused to give Big Tech corporations immunity on censorship. His interpretation of the section would give Big Tech immunity only against being compelled to take down content.Ultimately, Carr wants to revamp Section 230 as a whole, in favor of a set of antidiscrimination rules that prevent companies from censoring posts, with exceptions for illegal content like child sex abuse images.In place, consumers should be allowed to choose their own fact-checkers and filters, Carr said.He proposed that Big Tech firms be compelled to make public their traffic and monetization algorithms, saying they now operate in a "black box."Carr also wants Big Tech firms to start contributing to the Universal Service Fund, a billion-dollar program run by the FCC that helps underprivileged communities get access to telecommunications services.<h2 id="26cff9fc-99ef-4eaf-859b-12158e20d10d">Carr wants a stronger push away from China — and TikTok</h2>Another of Carr's main points in his Project 2025 chapter is to further decouple the US tech industry from China's.Raising concerns about US national security, Carr called for a ban on TikTok, saying it gives China an opportunity to influence how millions of Americans get their news and information.He also called for the US to expand its Covered List, which tracks foreign tech companies deemed a risk to national security, and to prevent American firms from providing cloud computing services to China.Carr also wants the US to publish a list of FCC-approved organizations with at least 10% ownership from "foreign adversarial governments" like China, Russia, and Iran.To smoothen the push away from China, Carr suggested the US contribute another $3 billion in federal funding to help companies that use Chinese tech find and integrate alternatives.Carr's two other points in his Project 2025 chapter are to increase accountability measures for federal tech programs and to drive hard to develop 5G infrastructure.

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