Donald Trump to nominate Steve Mnuchin for treasury post, Wilbur Ross for commerce

President-elect Donald Trump on Wednesday took major steps in building his economic team, announcing plans to nominate Steve Mnuchin to be the next secretary of the Treasury and Wilbur Ross to be the next commerce secretary.

Mr. Trump also said he plans to name Chicago Cubs co-owner Todd Ricketts as his deputy secretary of commerce.

In a statement, Mr. Trump called Mr. Mnuchin a “world-class financier, banker and businessman.”

Mr. Mnuchin, a billionaire Goldman Sachs alumnus who has also been a film investor, was the finance chairman of Mr. Trump’s campaign.

He said during an appearance on Fox Business Network Wednesday that tax and regulatory reform will be top priorities and that economic growth of “3 to 4 percent” is “a sustainable long-term growth” for the country.

“If we can have 3 to 4 percent growth, that’s fantastic for the United States,” Mr. Mnuchin said.

Mr. Ross, a billionaire investor known for his role in turning around flagging companies, has been an economic adviser to Mr. Trump.

“Wilbur Ross is a champion of American manufacturing and knows how to help companies succeed. Most importantly, he is one of the greatest negotiators I have ever met, and that comes from me, the author of ’The Art of the Deal,’ ” Mr. Trump said.

Mr. Ross indicated that the incoming administration could get involved in restructuring trade pacts — a topic Mr. Trump spoke frequently about on the campaign trail.

He said on Fox Business that the Trans-Pacific Partnership, a proposed deal with about a dozen Pacific Rim nations that’s been pushed by President Obama, is a “silly treaty” and a “flawed agreement.”

“The president has said, and we agree, that it’s much easier and much more sensible to try to do bilateral negotiations,” Mr. Ross said.

Mr. Trump said Mr. Ricketts, the Cubs co-owner, is an “immensely successful businessman” who will help cut waste and streamline government as deputy commerce secretary.