Trump Nominates Howard Lutnick as Commerce Secretary

President-elect Donald Trump has nominated Wall Street CEO Howard Lutnick to lead the Department of Commerce, with additional responsibilities for the U.S. Trade Representative's office. Lutnick, the chief executive of Cantor Fitzgerald and co-chair of Trump's transition team, is expected to enforce a tough trade agenda, including proposed tariffs of up to 60% on Chinese imports and a universal tariff of 20% on all imports. His appointment is seen as a strategic move to strengthen U.S. businesses and challenge China's dominance in technology. Lutnick's nomination follows speculation about his potential role as Treasury Secretary, a position he ultimately did not secure. The Commerce Department, which oversees a wide range of functions and has gained importance under both Trump and Biden, will play a pivotal role in implementing these trade policies. If confirmed, Lutnick's leadership could significantly reshape U.S. trade relations and domestic manufacturing policies.