The Ultimate Visual Breakdown of Trump’s Cabinet 2.0: Which Assets to Watch or Avoid?

Trump’s second-term Cabinet nominations are nearly complete. What are the core economic ideologies of this team? This article uses visuals and analysis to provide a deeper understanding for readers.

1. Who’s on Trump’s team? What are their primary responsibilities?

2. Economic ideologies of Cabinet members in policy-related roles

3. Economic ideologies of non-Cabinet members in policy-related roles

4. Impacts of these ideologies on the economy and assets

Tariff increases could lead to inflation, worsening burdens on both households and businesses.
Deregulation: Particularly in traditional energy sectors, Treasury nominee Besant supports expanding U.S. energy production and suggests increasing oil output by 3 million barrels per day.
Energy policies: Energy Secretary nominee Wright strongly advocates for traditional energy development. He may act swiftly to end the Biden administration's year-long freeze on natural gas export approvals.
Global trade and stagflation risks: High tariffs and trade conflicts could reduce global economic efficiency, disrupt trade, and slow economic growth. Rising inflation could lead some economies into stagflation.
Supply chain restructuring: Tariffs and trade friction may prompt multinational companies to reevaluate their global supply chains and industrial layouts.

5. Which assets to avoid? Which to focus on?
Key trading themes: Inflation, trade disputes, and geopolitical risks.

Assets to Avoid:
Consumer staples: Tariff policies may increase import costs, eroding consumer purchasing power and negatively affecting related industries.

$Whirlpool (WHR.US)$ $Walmart (WMT.US)$ $Target (TGT.US)$ $Medtronic (MDT.US)$
Renewable energy: Trump’s cuts to green subsidies may challenge renewable energy companies, which will need alternative financing channels and markets.

$First Solar (FSLR.US)$ $Sunrun (RUN.US)$ $Enphase Energy (ENPH.US)$
Government contract-dependent industries: Trump’s fiscal austerity could reduce government spending, impacting sectors reliant on federal contracts, such as defense and infrastructure.

$Lockheed Martin (LMT.US)$ $Boeing (BA.US)$ $General Dynamics (GD.US)$
High-tech exports: Trade wars and tariffs could constrain global supply chains and affect high-tech firms.

$Tesla (TSLA.US)$ $Apple (AAPL.US)$ $Intel (INTC.US)$ $Qualcomm (QCOM.US)$ $NVIDIA (NVDA.US)$

Apple update: In October, Indonesia banned sales of the iPhone 16 series because Apple failed to meet the local content requirement (40% domestic parts). Despite a promised $109M investment, Apple fell short by $15M, according to Indonesia’s Ministry of Industry.

Assets to Watch:
Treasuries: With fiscal deficit reduction, Treasury issuance may decline, potentially pushing bond prices higher in the long term. Investors could consider allocating to long-term Treasury ETFs.

$iShares 20+ Year Treasury Bond ETF (TLT.US)$ $Vanguard Long-Term Treasury ETF (VGLT.US)$

Deregulation and tax cuts: Reduced regulation in the financial sector could improve capital access for small businesses, many of which are domestic-focused. Higher tariffs may also reduce foreign competition, boosting local firms' market share and profitability.

$JPMorgan (JPM.US)$ $Block (SQ.US)$ $Amazon (AMZN.US)$

Energy production growth: Increased output benefits the entire oil value chain, from upstream exploration companies to downstream refiners. Investors can capitalize through energy stocks or energy-focused funds.

$Exxon Mobil (XOM.US)$ $Chevron (CVX.US)$ $Schlumberger (SLB.US)$ $ConocoPhillips (COP.US)$ $Franklin Natural Resources Fund (LU0300736062.MF)$ $BGF World Energy Fund (LU0122376428.MF)$

Cryptocurrency: Treasury nominee Besant supports crypto. Given its volatility, investors with high risk tolerance can allocate to mainstream cryptocurrencies (e.g., Bitcoin, Ethereum) or blockchain-related stocks that benefit from the tech's growth.

$MicroStrategy (MSTR.US)$ $Coinbase (COIN.US)$ $MARA Holdings (MARA.US)$

What investment opportunities do you see before 2025? Feel free to share your thoughts in the comments!