- Nomination: President-elect Donald Trump has nominated Howard Lutnick as Commerce Secretary.
- Tougher Stance on China: Lutnick’s appointment signals a harder stance on China, particularly regarding tariffs and trade.
- Leadership Roles: Lutnick will lead the country’s tariff and trade agenda and oversee the Office of the United States Trade Representative.
On November 19, 2024, President-elect Donald Trump announced Howard Lutnick, co-chair of his transition team, as his nominee for Commerce Secretary. This move is expected to bring a tougher stance on China in the incoming administration. Lutnick, CEO of Cantor Fitzgerald, will also oversee the country’s tariff and trade agenda, including the Office of the United States Trade Representative.
Lutnick’s appointment aligns with Trump’s economic agenda, which includes sweeping duties on all imports. Lutnick has expressed support for a 60% tariff on Chinese goods and a 10% tariff on all imports. He has also criticized the loss of US manufacturing jobs to China.
As Commerce Secretary, Lutnick will lead a department focused on boosting US industry, particularly in the semiconductor sector, and reducing reliance on Asia. This role will be crucial in shaping the country’s trade policies under the Trump administration.
About Howard Lutnick
Lutnick is a renowned businessman and philanthropist. He succeeded Bernard Gerald Cantor as head of Cantor Fitzgerald and is chairman and CEO of Cantor Fitzgerald and BGC Group. Lutnick has been a vocal supporter of Trump and has expressed his commitment to the president-elect’s policies.
