Trump’s Commerce Secretary Pick Howard Lutnick Signals Tougher Trade Policies, Especially Toward China
In a move signaling a hardline shift on trade, President-elect Donald Trump has named Howard Lutnick, co-chair of his transition team and CEO of financial services giant Cantor Fitzgerald, as his pick for Commerce Secretary.
Announced Tuesday, Lutnick’s nomination underscores Trump’s commitment to reshaping U.S. trade policies, particularly with China. Lutnick will also oversee the country’s trade and tariff strategies, taking on additional responsibility for the Office of the United States Trade Representative, according to Trump’s statement.
Tariffs and Trade at the Forefront
Trump has made tariffs a cornerstone of his economic plan, vowing sweeping duties on imports when he assumes office. Lutnick has publicly endorsed a 60% tariff on Chinese goods and a 10% levy on all imports, aligning closely with Trump’s protectionist agenda.
The Commerce Department, which Lutnick will lead, plays a pivotal role in supporting U.S. industries, including efforts to strengthen the semiconductor sector and reduce reliance on Asia. Under the Biden administration, the department intensified export controls on critical technologies like quantum computing and semiconductor tools to limit adversaries like China. Trump’s administration is expected to take this a step further.
A Trusted Trump Ally
Initially considered a contender for Treasury Secretary, Lutnick has been a staunch ally of Trump throughout his campaign. His appointment signals a robust trade strategy aimed at boosting U.S. manufacturing and safeguarding technological dominance.
As Trump prepares to take office, the Lutnick-led Commerce Department is poised to become a key player in the administration’s broader economic and trade overhaul.
Join our Channel...