D.C. Bureau Trump plans to nominate billionaire buddy Howard Lutnick as Commerce secretary

WASHINGTON — President-elect Donald Trump announced Tuesday he will nominate transition co-chair and billionaire businessman Howard Lutnick as the country’s next secretary of Commerce, a position that will have a hand in shaping Trump’s tariff policies.

If confirmed by the Senate, Lutnick would lead a 13-bureau department that houses the U.S. International Trade Commission, where tariff policy is managed. Trump campaigned on levying at least 10% tariffs on all foreign products and steep targeted tariffs on Chinese and Mexican imports upwards of 60%.

“He will lead our Tariff and Trade Agenda, with additional direct responsibility for the Office of the United States Trade Representative,” Trump said in a brief statement on his social media platform, Truth Social.

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The CEO is a backer of cryptocurrency and reportedly was in the running for Trump’s choice for Treasury secretary, though according to The Bulwark, lost the bid because he annoyed advisers at Mar-a-Lago. Billionaire Elon Musk, who has been tapped by Trump to lead a not-yet-defined commission to evaluate government spending, backed Lutnick for the Treasury post.

https://washingtonstatestandard.com/2024/11/19/dc/trump-plans-to-nominate-billionaire-buddy-howard-lutnick-as-commerce-secretary/