US President Donald Trump, spoke from the White House oval office, is sandwiched between U.S. Secretary of Commerce Howard Lutnick, and signed the Washington mutual tariff executive order on February 13, 2025. It’s signed.
Kevin Lamarck | Reuters
The Senate confirmed wealthy investor Howard Lutnick as secretary of commerce on Tuesday, introducing solid supporters of President Donald Trump’s tough trade policy.
In the commerce division, Lutnick, CEO of investment firm Cantor Fitzgerald, oversees 50,000 employees who do everything from collecting economic statistics to running the census. But he could spend a lot of time – Trump candidate Jamieson Grier Becoming a top US trade negotiator – manages the president’s aggressive plan to impose import taxes on US trading partners, including allies and enemies.
Sentae’s vote to confirm that Lutnick was 51-45.
Trump sees tariffs as a versatile economic tool. They raised funds to fund his tax cuts elsewhere, protecting the US industry and pressured other countries to make concessions on issues such as their own trade barriers, immigration, drug trafficking and more. You can apply it. Mainstream economists primarily view tariffs as counterproductive. They are paid by US importers, and they try to pass higher costs to consumers, thereby increasing inflationary pressures across the economy.
At a confirmation hearing last month, Lutnick was dismissed as “nonsense” and rejected the idea that tariffs contribute to inflation. export.
Last week, Trump announced plans for “mutual” tariffs. Smash the rules governing world trade For decades. Since the 1960s, tariff rates have mostly emerged from negotiations between dozens of countries. Trump is leading the process.
The president also imposed a 10% tariff on Chinese imports, effectively increasing US taxes on foreign steel and aluminum. He was threatened and was delayed until March 4th. 25% tariff on goods from Canada and Mexico.
Lutnick was CEO of Cantor Fitzgerald when the office was hit by the World Trade Center attack on September 11, 2001. The company lost two-thirds of its employees (658), including Lutnick’s siblings that day. Howard Lutnick led the company’s recovery and is a member of the National Memorial Museum’s board of directors on September 11th.
Lutnick has pledged to sell his Business Holdings. They are complicated. His Financial Disclosure Statement He showed that he has jobs in over 800 companies and other private organizations.
