Howard Lutnick
Trump nominates billionaire Wall Street manager as commerce secretary
Howard Lutnick is a very wealthy financial manager and close confidante of Donald Trump. Now the future US President has nominated him as Secretary of Commerce.
One of Donald Trump’s most important supporters on Wall Street is set to become the next US Secretary of Commerce. The US President-elect nominated Howard Lutnick, who heads the New York financial firm Cantor Fitzgerald, for the post. Lutnick is currently also a co-head of Trump’s team, which is preparing the Republican’s inauguration on January 20th.
According to media reports, Lutnick was discussed as a candidate for US Treasury Secretary. He and Scott Bessent, also a financial manager, have been vying for the position with Trump in recent days. Lutnick brought, among others, tech billionaire Elon Musk to his side, who has been spending a lot of time with Trump since the election. Nevertheless, he should now become trade minister.
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Lutnick should implement tariff increases for Donald Trump
Lutnick should, among other things, implement his plans for tariffs, Trump said. During the election campaign, the president-elect threatened new high tariffs on goods from abroad, claiming that this would force companies to produce in the USA. Economists, however, warned that such measures would primarily lead to price increases for US consumers.
Lutnick has been with Cantor Fitzgerald since the 1980s. The terrorist attacks of September 11, 2001 killed more than two-thirds of the financial firm’s New York employees, including Lutnick’s brother.
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Source: Stern
I have been working in the news industry for over 6 years, first as a reporter and now as an editor. I have covered politics extensively, and my work has appeared in major newspapers and online news outlets around the world. In addition to my writing, I also contribute regularly to 24 Hours World.
