Trump Appoints Howard Lutnick as Commerce Secretary in Bold Cabinet Move

In a statement, Trump called Lutnick a “force on Wall Street” and praised his leadership and commitment to Trump’s economic agenda. Lutnick has been a big supporter of Trump’s tariff heavy trade policies which tax foreign goods not American citizens.

Tariffs: A Core Focus of Lutnick’s Leadership

Lutnick’s view on tariffs is in line with Trump’s “America First” economic plan. He has said “Don’t tax our people. Make money instead. Put tariffs on China and make $400 billion”. Trump has said he will put at least 60% tariffs on Chinese goods and 10-20% on other countries goods to boost domestic manufacturing and revenue.

As Commerce Secretary Lutnick will oversee the counter measures to China’s advances in strategic technologies like semiconductors and artificial intelligence. His leadership will be key in shaping the policies to protect U.S. national security and revitalize the manufacturing sector.

Howard Lutnick: A Polarizing Choice

A Wall Street veteran, Howard Lutnick has faced his share of challenges. He became CEO of Cantor Fitzgerald and led the firm through the aftermath of 9/11 when over 600 employees including his brother were killed. He also runs BGC Group and Newmark Group showing his broad expertise in finance and real estate.

NEW: Donald Trump is expected to pick Cantor Fitzgerald CEO Howard Lutnick as Commerce Secretary, according to Punchbowl.

Here is Lutnick blowing the minds of CNBC hosts as he explained how Trump will use tariffs as a negotiation tactic.

Lutnick lost 658 employees in the… pic.twitter.com/6Aalo2mKQv

— Collin Rugg (@CollinRugg) November 19, 2024

Despite his impressive resume Lutnick’s appointment has been met with criticism. Some say his tariff heavy approach will increase costs for American consumers and strain global trade. Others believe his financial skills and unwavering support for Trump’s agenda will be good for the U.S. economy.

A Controversial Choice

Lutnick’s selection as Commerce Secretary has drawn mixed reactions. Some in Trump’s circle were surprised, given that Linda McMahon, a former Small Business Administration head, was considered a front-runner for the role. Former U.S. Trade Representative Robert Lighthizer was also in the running but lost out to Lutnick.

Critics point out that Lutnick’s tariff-heavy approach could disrupt global trade and raise costs for American consumers. However, supporters argue that his business acumen and loyalty to Trump’s vision will help strengthen the U.S. economy.

New Direction in U.S. Trade Policy

As Commerce Secretary Lutnick will be at the center of Trump’s efforts to remake U.S. trade and manufacturing. From enforcing export controls to tariffs Lutnick will be key to Trump’s economic agenda.

This along with other appointments like Linda McMahon and Mehmet Oz shows Trump is going full tilt in his second term. While these decisions will be praised and criticized they will be a big change for U.S. domestic and international policy.