Donald Trump announced Tuesday the nomination of Howard Lutnick, CEO of the investment bank Cantor Fitzgerald, as Secretary of Commerce. This strong critic of China was rather cited among the favorites for the post of Secretary of the Treasury.
Howard Lutnick, who co-chairs the US president-elect’s transition team, will head the department responsible for implementing tariffs and international trade negotiations. He will be responsible in particular for restrictions on exports of American high-tech products to China.
Aged 63 and a claimed supporter of Democrats for many years, Howard Lutnick supported the campaign of Republicans and Democrats during the 2016 general elections, before becoming one of Donald Trump’s main donors in 2020 and 2024.
China “responsible for the spread of fentanyl”
He had received the support of Elon Musk for the position of Treasury Secretary, which he coveted.
The billionaire has never hidden his support for the president-elect’s desire to impose customs duties of 10 to 20% for all products entering the United States and up to 60 to 100% for products arriving from China. .
>> Read also: China says it is ready to work towards a “smooth transition” with Donald Trump
In October, he lamented in an interview the loss of American manufacturing jobs and called electric cars “elite nonsense.” He also designated China as responsible for the spread of fentanyl in the United States, responsible for tens of thousands of overdose deaths each year.
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How might Mr. Lutnick’s background influence the U.S. approach to international trade negotiations moving forward?
Hello and welcome to World Today News. Today, we have with us two esteemed guests, Mr. John Smith, a renowned economist, and Ms. Jane Doe, an international trade expert. We will be discussing the recent announcement made by President-elect Donald Trump regarding the nomination of Howard Lutnick as his Secretary of Commerce.
John, as an economist, what are your initial thoughts on this nomination? How do you think Mr. Lutnick’s experience in the investment banking sector will help him in his new role as the head of the Department of Commerce?
John Smith: Hello, it’s great to be here. Mr. Lutnick’s nomination is an interesting one. His experience in the investment banking sector is undoubtedly valuable, particularly in terms of understanding the intricacies of international finance and trade. However, his specific role at Cantor Fitzgerald, which involves working with high-tech companies, could be beneficial in shaping US trade policies towards China. The Secretary of Commerce plays a crucial role in implementing tariffs and negotiating international trade agreements, and it will be interesting to see how Mr. Lutnick approaches these important matters.
Ms. Doe, as an international trade expert, what are your thoughts on Mr. Lutnick’s stance on China and his past comments regarding the spread of fentanyl into the US? Do you think these views align with the current administration’s policies towards China?
Jane Doe: Thank you for having me. Regarding Mr. Lutnick’s views on China, it’s clear that he holds strong opinions on the country’s role in the opioid crisis and the impact of its exports on American jobs. However, his comments about electric cars being “elite nonsense” may raise some concerns about his approach to renewable energy and technological advancements. As for his alignment with the current administration’s policies towards China, it’s worth noting that President Trump has been heavily focused on addressing the trade deficit with China and cracking down on the spread of fentanyl. So, in that sense, his views do align with the administration’s objectives.
Given the wide range of issues that fall under the Department of Commerce’s purview, such as patents, tra
