Trump's First Treasury Secretary "Trump's priorities are tax cuts, Iran, and tariffs."

Steve Mnuchin, a former Treasury secretary in the first Donald Trump administration, said Trump would likely return to the cornerstone of previous economic policies such as tariffs, tax cuts and sanctions once he took office.

In an interview with CNBC on the 7th local time, former Secretary Mnuchin said he believes these are very important to the Republican agenda.

In the case of tax cuts, it was "a characteristic part of the Trump program," explaining that "the tax cuts will easily pass through Congress, especially if Republicans take control of the House."

"I think tariffs should be used to bring the other party back to the negotiating table, and China in particular is not implementing everything it has agreed to," it said.

It also added that Iran and Russia could be expected to face sanctions again.

The first Trump administration imposed sanctions on Iranian oil producers in 2019 for being owned by Iran's Revolutionary Guard.

"The impact of sanctions on Iran and Russia has been very significant," Mnuchin said. "Iran is now selling millions of barrels of oil, which should be stopped."