Howard Lutnick, billionaire financier and President Donald Trump's nominee to lead the Commerce Department, pledged to sell all of his business holdings within 90 days. Lutnick, known for his support of Trump's trade policies, highlighted his commitment to divesting from his financial interests. He emphasized his belief in tariffs as a tool to achieve trade reciprocity and dismissed concerns about inflation caused by tariffs.
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Lutnick, who was head of the investment firm Cantor Fitzgerald, has emerged as an outspoken supporter of Trump’s hardline trade policies.on America’s two biggest trading partners, Canada and Mexico. Lutnick suggested Wednesday that the tariffs on Canada and Mexico could be avoided if they complied with Trump’s demand to stop the flow of undocumented immigrants and fentanyl into the United States.Stock market today: Asian shares gain and bitcoin hits a record high ahead of U.S.
Lutnick was in the running to be Treasury secretary, but Trump decided to go with someone viewed as more palatable to Wall Street: wealthy investorThe Commerce Department is a sprawling bureaucracy with nearly 50,000 employees. A voice for business in the federal government, it administers trade policy, collects economic statistics, oversees government funding of new computer chip factories, runs the census, grants patents and issues weather reports, among other things.
TRUMP COMMERCE DEPARTMENT HOWARD LUTNICK TARIFFS TRADE POLICY
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