Howard Lutnickco-chair of the transition team overseeing the process of selecting the new administration, will become the new head US Ministry of Commerce – Punchbowl News reported. The information was later confirmed by CNN.
According to her, a billionaire and one of election campaign sponsors Donald Trump won the competition with the second co-chair, Linda McMahon and Robert Lighthizer. McMahon headed the Small Business Administration in the first Trump administration, and Lighthizer was the U.S. trade representative.
Howard Lutnick will become the new US Secretary of Commerce
One of the main tasks of the future minister will be to implement what Trump promised objectivewhich according to his announcements are to be 10-20 percent for all imported goods (including from Europe) and 60 percent and more on goods from Chin. Lutnick initially publicly suggested that Trump's announcements were his way of “making a deal” with China, but later supported them as a way to protect American farmers and industry.
In the final phase of the campaign, he was one of the main people defending his economic program in the media. Lutnick he will also oversee some of the sanctions and export control of semiconductors and other sensitive technology, among others. down Russia i Chin.
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Howard Lutnick with the support of Elon Musk. Controversy surrounding the billionaire
As reported by the Washington Post, the financier's candidacy raised concerns within Trump's team due to the threat of sanctions against kryptowalucie Tethersuspected of enabling illegal payments, which Lutnick promoted. According to the current deputy head of the Ministry of Finance, Wally Adeyemo, Russia uses, among others, this cryptocurrency to circumventing sanctions.
Lutnick – another after Elon Musk – a billionaire close to Trump (who is himself known for his wealth) was initially the candidate most frequently mentioned by the media to take over Ministry of Financebut according to Bloomberg, his overzealous pursuit of the role discouraged Trump.
He supported the financier's candidacy Muskwho on the X platform claimed that Lutnick would introduce real changes, and his rival, another financier and Trump sponsor Scott Bessant – declaring less enthusiasm for tariffs – would be a “business as usual” choice.
Lutnick is the majority owner and head of the company Cantor Fitzgeraldproviding financial services. It is, among others, famous for surviving the September 11 attacks on the World Trade Towers, which killed over 600 workers, including his brother. This story was one of the inspirations for the TV series “Billions”. The estimated value of his estate is 1.5 billion dollars.