If confirmed, Lutnick will have a significant impact on the trajectory of the US economy over the next four years.
US President-elect Donald Trump nominated American investor and billionaire Howard Lutnick for the position of Secretary of Commerce in his administration. This was stated in a statement by the Republican transition team on Tuesday, November 19.
“I am pleased to announce that Howard Lutnick, Chairman and CEO of investment firm Cantor Fitzgerald, will join my Administration as Secretary of Commerce,” Trump wrote.
As Trump said, Lutnick will lead America’s “tariff and trade agenda,” will also be responsible for supporting American businesses and will play a central role in implementing Trump’s plan to impose significant tariffs. with trading partners and reduce dependence on China. The newly elected president has proposed a 60% tariff on Chinese imports, as well as a general tariff of up to 20%. Lutnik actively supports this position.
The Commerce Department has approximately 50,000 employees and a budget of $11 billion.
It is known that the 63-year-old billionaire investor, executive director of the investment company Cantor Fitzgerald, who has not held public office until now, became one of Trump’s biggest fans during the presidential election campaign and became a sponsor of his campaign.
Aside from being Treasury secretary, the most important economic position in a presidential administration, Trump has yet to decide who will be the director of his National Economic Council.
US President-elect Donald Trump announced that North Dakota Governor Doug Burgum will head the US Department of the Interior. and the National Energy Board.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.