Trump Reportedly Considers Marco Rubio For Secretary Of State Role Who Shares Similar Stance For China, But Says Stock Market 'Is Not The Economy'

President-elect Donald Trump is reportedly leaning towards appointing Florida Senator Marco Rubio as secretary of state. This decision comes as Trump finalizes his national security team for his second term.

As of Monday night, it was uncertain if Trump had officially extended the offer to Rubio. Initially, Trump was considering Ric Grenell for the position. However, after discussions with Rubio’s allies, Trump’s preference shifted towards the Florida senator, New York Times reported on Monday.

Rubio has been vocal about the need for a more assertive U.S. stance on China, aligning with Trump’s plans to impose significant tariffs on Chinese imports. This shared perspective could influence Trump’s decision.

Despite their similarities, Rubio and Trump differ in their views on the stock market. Rubio has criticized the focus on short-term market gains, while Trump's policies are expected to favor financial reforms that could boost the market. Investors are anticipating changes in regulations and potential tax reductions under Trump’s administration.

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As reported by Miami Herald in 2019, Rubio said in an interview, "The stock market is not the economy."

"We now have two or maybe three networks who dedicate most of their time to covering the stock market — they're like the ESPN of stock markets. There's a lot more to the economy than the stock market."

Rubio’s recent publication, "American Investment in the 21st Century," highlights his concerns about the U.S. economy prioritizing short-term gains over long-term stability.

“We need to build an economy that can see past the pressure to understand value-creation in narrow and short-run financial terms, and instead envision a future worth investing in for the long-term. Our future strength, security, and prosperity depend on it,” he wrote.

This contrasts with Trump’s pro-business stance, which could lead to significant market shifts. According to Jeremy Siegel, a finance professor at the Wharton School of the University of Pennsylvania, Trump is the “most pro-stock market president we have had in our history” and that his policies can drive the stock market to unprecedented levels.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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