Trump officially announced key members of his economic team, choosing former banker and Hollywood financier Steven Mnuchin as treasury secretary and billionaire industrialist Wilbur Ross to run the Commerce Department. We believe that’s very sustainable.”

Asked how they would achieve Trump’s promise to convince U.S. companies to bring back massive amounts of cash they have stockpiled overseas because of what they see as high corporate taxes, Mnuchin said:” Well our first priority is going to be the tax plan and the tax plan has both the corporate aspects to it, lowering corporate taxes so we make U.S. companies the most competitive in the world.”

He added, without elaboration, that Trump will ensure that “we repatriate trillions of dollars back to the United States.”

Drew Harwell, Ylan Mui and Jim Tankersley contributed to this report. Meanwhile, Trump and Vice President-elect Mike Pence, the outgoing Indiana governor, planned an event Thursday in Indiana in connection with an announcement that the air conditioning giant Carrier Corp. planned to keep nearly 1,000 jobs in the state instead of moving them to Mexico. Under a deal hammered out with the help of Vice President-elect Mike Pence, who is Indiana's outgoing governor, the state offered Carrier USD 7 million in incentives over 10 years, "contingent upon factors including employment, job retention and capital investment," the company said in a statement. CNBC broke the story of the agreement first on Twitter. Reince Priebus, Trump’s incoming White House chief of staff, was vague Wednesday in describing how the president-elect planned to separate himself from his businesses, saying “that’ll all be worked out.”

Priebus told MSNBC’s “Morning Joe,” that Trump has “got the best people in America working on it.” Priebus demurred when asked if Trump planned to put his businesses in a blind trust — as presidents have traditionally done — or leave them in his children’s hands. Priebus added that Trump’s business acumen and the many interests he has as a result of it are “nothing to be ashamed about.” He said the country hasn’t seen a president with such business holdings before and the rules and regulations “don’t contemplate this scenario.”
President-elect Donald Trump announces that his team has made a deal with Carrier Corporation that would save around 1,000 jobs at an Indiana factory. Carrier had planned to move production from a key factory in that state to Nuevo León, Mexico.