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He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

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He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

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Mamdani’s pied-à-terre tax was designed to hit the wealthy, but it’s sending most New Yorkers to their estate lawyers
PoliticsDonald Trump

Trump names tariff hawk Peter Navarro as chief trade strategist, bringing back former adviser who was jailed after Jan. 6

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December 4, 2024, 2:03 PM ET
President Trump Meets With Executives Of Supply Chain Distributors
Former White House adviser Peter Navarro, who served prison time related to the Jan. 6 attack on the U.S. Capitol, will return to serve in Donald Trump’s second administration, the president-elect announced Wednesday.Pete Marovich—The New York Times/Bloomberg/Getty Images
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Former White House adviser Peter Navarro, who served prison time related to the Jan. 6 attack on the U.S. Capitol, will return to serve in Donald Trump’s second administration, the president-elect announced Wednesday.

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Navarro, a trade adviser during Trump’s first term, will be a senior counselor for trade and manufacturing, Trump said on Truth Social. The position, Trump wrote, “leverages Peter’s broad range of White House experience, while harnessing his extensive Policy analytic and Media skills.”

The appointment was only the first in a flurry of announcements that Trump made on Wednesday as his presidential transition faced controversy over Pete Hegseth, Trump’s choice for Pentagon chief. Hegseth faces allegations of sexual misconduct, excessive drinking and financial mismanagement, and Trump has considered replacing him with another potential nominee.

As he works to fill out his team, Trump said he wanted Paul Atkins, a financial industry veteran and an advocate for cryptocurrency, to serve as the next chairman of the Securities and Exchange Commission. He wrote on Truth Social that Atkins “recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.”

Trump also said he was changing course on his choice for White House counsel. He said his original pick, William McGinley, will work with the Department of Government Efficiency, which will be run by Elon Musk and Vivek Ramaswamy with the goal of cutting federal spending. Now David Warrington, who has worked as Trump’s personal lawyer and a lawyer for his campaign, will serve as White House counsel.

In addition, Trump announced the selections of Daniel Driscoll, an Army veteran who was a senior adviser to Vice President-elect JD Vance, as Army secretary; Jared Isaacman, a tech billionaire who conducted the first private spacewalk on Elon Musk’s SpaceX rocket, as NASA administrator; and Adam Boehler, a lead negotiator on the Abraham Accords team, as special presidential envoy for hostage affairs.

Navarro was held in contempt of Congress for defying a subpoena from the House committee that investigated Jan. 6. Sentenced to four months in prison, he described his conviction as the “partisan weaponization of the judicial system.”

Hours after his release in July, Navarro spoke on stage at the Republican National Convention, where he told the crowd that “I went to prison so you won’t have to.”

Navarro, 75, has been a longtime critic of trade arrangements with China. After earning an economics doctorate from Harvard University, he worked as an economics and public policy professor at the University of California, Irvine. He ran for mayor of San Diego in 1992 and lost, only to launch other unsuccessful campaign efforts, including a 1996 race for Congress as a Democrat.

During Trump’s initial term, Navarro pushed aggressively for tariffs while playing down the risks of triggering a broader trade war. He also focused on counterfeited imports and even helped assemble an infrastructure plan for Trump that never came to fruition.

Navarro often used fiery language that upset U.S. allies. In 2018, after a dispute between Trump and Canadian Prime Minister Justin Trudeau, Navarro said “there’s a special place in hell for any foreign leader that engages in bad faith diplomacy with President Donald J. Trump and then tries to stab him in the back on the way out the door.”

Canadians were outraged, and Navarro later apologized.

Issacman, 41, has reserved two more flights with SpaceX, including as the commander of the first crew that will ride SpaceX’s mega rocket Starship, still in test flights out of Texas. He said he was honored to be nominated.

“Having been fortunate to see our amazing planet from space, I am passionate about America leading the most incredible adventure in human history,” he said via X.

Trump kept rolling out positions on Wednesday afternoon. He announced Gail Slater as assistant attorney general for the Justice Department’s antitrust division. Trump wrote on Truth Social that “Big Tech has run wild for years, stifling competition in our most innovative sector.”

Slater worked for Trump’s National Economic Council during his first term, and she’s been an adviser to Vance.

Trump also said Michael Faulkender would serve as deputy treasury secretary. A professor at the University of Maryland’s Smith School of Business, Faulkender was the Treasury Department’s assistant secretary for economic policy during Trump’s initial term. He has also been the chief economist at the America First Policy Institute, a think tank formed to further the Trump movement’s policy agenda.

Outside the White House, Trump said that he had asked Michael Whatley to remain on as chair of the Republican National Committee. Whatley ran the committee during the election along with Lara Trump, the wife of Trump’s son Eric.

___

AP Aerospace Writer Marcia Dunn in Cape Canaveral, Fla., Josh Boak in Washington and Rob Gillies in Toronto contributed to this report.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
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